Total to cut exploration costs by 30 percent in 2015 - Le Monde
PARIS (Reuters) - Total's new chief said in a newspaper interview that the French oil company aimed to cut exploration spending by 30 percent in 2015 to cope with falling oil prices.
"Over the last two years we spent $2.8 billion (2 billion pounds) on exploration, we will reduce that by 30 percent in 2015," Patrick Pouyanne said in an interview due to be published in French afternoon daily Le Monde.
Shares in Total climbed 1.8 percent in early trade.
(Reporting by Dominique Vidalon; Editing by Andrew Callus)
