CITY ( TheStreet) -- The CEO of oil giant Total ( TOT) expects a tougher regulatory environment for oil companies as a result of the BP ( BP) oil spill. In comments made to the Wall Street Journal, Total CEO Christophe de Margerie said that the fallout from the BP oil spill would lead to a regulatory clamp-down that could send the price of crude oil as high as $90 by the end of this year. "Our policy is clearly towards zero risk.... All this means extra attention, potential additional costs ... and this might mean a slight delay before new projects are announced... This can only have a negative impact over oil prices," the Total CEO told the WSJ. The Total CEO tried to downplay the attacks on BP in his comments, and noted that while Total would be interested in reviewing any potential asset sales to be made by BP as part of raising cash to cover oil spill liabilities, Total did not want to prey on BP. In a separate report from the Financial Times, it was reported that BP's stake in an Argentine oil company, Pan American, could raise as much as $9 billion. On the issue of new safety regulations, EU Energy Commissioner Guenther Oettinger said on Friday that the EU planned to issue additional requirements for oil operations in European waters in the fall. The EU Energy Commissioner told a German newspaper that a comprehensive liability insurance model might be considered, similar to one required of nuclear power plants, as well as other ideas being tossed around for prevention of oil spills, and compensation in the event of spills. -- Written by Eric Rosenbaum from New York. Follow TheStreet.com on Twitter and become a fan on Facebook.