Total piles pressure on Arctic oil explorers
The Chief Executive of French oil major Total says he believes the risk of an oil spill in the Arctic is too high to justify drilling.
The Chief Executive of French oil major Total says he believes the risk of an oil spill in the Arctic is too high to justify drilling.
Wednesday's interview with Christophe de Margerie in the Financial Times will be scrutinised by investors following the decision by Shell last week to delay its Alaskan campaign after safety equipment was damaged.
De Margerie argues the damage to a company's reputation of a spill in the pristine wilderness of the Arctic would be a "disaster".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
His intervention will not be welcomed by rivals like ENI of Italy and ExxonMobil who both have plans to explore in Russian waters.
The Financial Times points out geographical surveys have indicated up to a fifth of the world's undiscovered resources may lie in the polar region. With that kind of incentive, the betting is not high that De Margerie's warnings will be heeded.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
1,000 children hold over £100,000 in a junior ISA – how to grow tax-free nest egg for your child
Junior ISAs can be a tax-efficient way to grow a nest egg for your child. We explain how they work
-
How to start investing: a beginner’s guide
Getting started in investing is a great way to make your money work harder for you over the long term, as investments tend to outperform cash savings