total sa (FP) Snapshot

Owners of prospective U.K. shale acreage has spurned interest from four internation gas companies in favor of a deal with Centrica plc (LSE:CNA), , a person familiar with the matter said. The companies includes Statoil ASA (OB:STL), Exxon Mobil Corporation (NYSE:XOM), Royal Dutch Shell plc (LSE:RDSA) and Total SA (ENXTPA:FP), people added. Michael Fallon, U.K. Energy Minister, said that Centrica would invest up to £100 million in the Bowland shale formation, initially acquiring a 25% interest for £40 million from Cuadrilla Resources Ltd. and AJ Lucas Group Limited (ASX:AJL).

The Securities and Exchange Commission charged France-based oil and gas company Total S.A. with violating the Foreign Corrupt Practices Act (FCPA) by paying $60 million in bribes to intermediaries of an Iranian government official who then exercised his influence to help the company obtain valuable contracts to develop significant oil and gas fields in Iran.

Total SA announced that it has reached final agreements with the United States Department of Justice (DOJ) and United States Securities and Exchange Commission (SEC) putting an end to an investigation initiated in 2003 concerning petroleum contracts awarded in Iran in the 1990s. Following negotiations, Total S. A agreed to pay a total amount of $398.2 million to the U.S. government. The DOJ considered and acknowledged Total's cooperation and disclosure over the course of several years. The DOJ also noted the age of the allegations. The settlement with the SEC requires Total S. A to pay $153 million and to agree to take steps to avoid any violation. The DOJ has agreed not to prosecute Total S. A in return for Total S.A's agreement to pay $245.2 million and to maintain and reinforce its ongoing compliance program. Total S. A will also appoint an independent French compliance monitor to review Total's compliance program and to recommend possible improvements. These agreements end the U.S. investigation, which was initiated in 2003.