Total CEO Says Oil Prices Could Hit $145 by 2014
Total's Chief Executive Christophe de Margerie foresees the price per barrel of crude oil surpassing $145 in the near future, reports Dow Jones Newswires.
In an interview with Le Parisien published Friday, the head of the French oil major said, "We risk to face a new oil crisis at a time when demand will surpass supply in 2014/15."
"It is urgent that we invest," Margerie added.
Margerie revealed that Total has bank accounts in "tax havens," and should a decision be made at an international level, the company would be prepared to withdraw the money, Dow Jones reported.
- Oil CEOs Jostle for Global Natgas Crown Under Putin's Gaze (Oct 04)
- Uganda Expects to Miss Target for First Oil (Sep 24)
- Total Joins Tullow-operated Block Offshore Guyana (Sep 13)