PRESS DIGEST- Financial Times - Aug 29
Aug 29 The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
MOSCOW, April 3 French oil major Total has secured the rights to explore three hard-to-recover oil blocks in West Siberia, according to a statement on the website of the Russian region's governor.
Total will join other majors, ExxonMobil, Statoil and Royal Dutch Shell, to develop Russian shale oil, a key driver in Moscow's efforts to at least maintain its oil output at more than 10 million barrels per day.
A spokeswoman for Total in Moscow declined immediate comment.
Total has long eyed Russian shale oil, the world's largest by estimated resources. The U.S. Energy Information Administration puts the possible resources at 75 billion barrels, more than the 58 billion barrels held by the United States, current leader in shale oil production.
Interfax news agency, citing a local subsoil watchdog, said that a subsidiary of Total had received the licenses for the Vostochno-Kovensky, Tashinsky and Lyaminsky-3 blocks in Khanty-Manssiisk district, Russia's main oil producing region.
Total has also signed a memorandum to develop shale oil in Russia with Russia's No.2 oil producer Lukoil. (Reporting by Vladimir Soldatkin, editing by Elizabeth Piper)
Aug 28 Hedge fund manager D.E. Shaw & Co LP is weighing a bid for SunEdison Inc's controlling stake in TerraForm Power Inc, the bankrupt U.S. renewable energy producer's most valuable asset, according to people familiar with the matter.
Aug 28 Gaston strengthened into the first major Atlantic hurricane of the season on Sunday, packing maximum sustained winds of 115 miles per hour (185 kph) with more powerful gusts but posing no threat to any land mass.