Total must enter nuclear, says CEO

[Les Echos, 12 December] Christophe de Margerie, CEO of French oil giant Total, said in an interview with business newspaper Les Echos that he expects the company to expand its activities and to enter the nuclear energy industry. He said, "In twenty years, I don't see how we could be absent in the fields of nuclear power and clean fuel." However, he noted "that will require a lot of preparation, a reflection on partnerships that could take place. So it's not going to happen tomorrow." Total is not interested in acquiring a stake in state-owned nuclear engineering company Areva, according to de Margerie. "It's not our intention," he said. "Strategically, Total is not interested in minority stakes in industrial companies." When asked about the price of petrol, he said that at $90 per barrel oil is "not too expensive", noting that it still costs less than mineral water. De Margerie said that petrol prices are unlikely to fall much because "structurally we are entering in a system of high prices."