Financial Times FT.com

Total joins rivals in cutting output targets

By Peggy Hollinger in Paris and Dino Mahtani in London

Published: September 6 2007 03:00 | Last updated: September 6 2007 03:00

Total's ability to resist the pressures on production facing its international rivals was called into question yesterday as the French oil major cut output targets by 20 per cent for the four years to 2010.

Christophe de Margerie, the chief executive who took over in February, yesterday said Total expected only4 per cent growth between 2006 and 2010, against previous forecasts of 5 per cent.

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