Total, Qatar Discuss Petrochemical Plant
DOHA, Qatar -- French petroleum company Total SA (TOT) is in talks with Qatar about building a $6 billion petrochemical plant there, according to a published media report.
A representative of Total Petrochemicals, a unit of Total SA, said discussions had begun but were in an early stage, according to a report published on
The Wall Street Journal's
Web site.
In January,
ExxonMobil
TheStreet Recommends
(XOM)
signed an agreement with Qatar's state-controlled oil company, Qatar Petroleum, to build a petrochemical facility, but the
Journal
report said there are signs that ExxonMobil has pulled out of the project.
Total Petrochemicals and Qatar Petroleum are discussing plans for a mixed-feedstock cracker, the report said.
Shares of Total closed Wednesday in New York at $50.92, while ExxonMobil's stock ended the session at $69.88. U.S. markets were closed Thursday in observance of Thanksgiving.
This article was written by a staff member of TheStreet.
