Total S.A.

A dealer counts the dollar banknotes as

Total has agreed to pay more than $398 million to settle Securities Exchange Commission and Department of Justice charges for violation of the Foreign Corrupt Practices Act. Total will pay the SEC $153 million and the DOJ $245.2 million related to charges that the French oil major paid $60 million in bribes related to the… Keep reading →

The global fleet of ultra-deepwater oil rigs was increasing steadily until April 2010, when regulatory aftershocks from BP’s Macondo disaster slowed its overall growth rate. But now, two years after the Gulf spill, there are indications that drilling in the ultra-deep could be poised for a long-term surge.

One of the key indicators is rig demand. And a Barclays equity research report says oil companies are clamoring for rigs designed to operate in water depths of 7,500 feet or more – the generally accepted threshold for the ultra-deep space. Keep reading →