Total, Qatar Discuss Petrochemical Plant

DOHA, Qatar -- French petroleum company Total SA (TOT) - Get Report 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

(XOM) - Get Report

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.