WSJ: Total Seeks up to $15 Billion in Chinese Financing for Russian Project

Total SA is seeking the equivalent of up to $15 billion in Chinese financing to fund its expansion in Russia, its chief executive said, as U.S. sanctions complicate the French oil giant’s big bet there.

Total Chief Executive Patrick Pouyanné also told The Wall Street Journal that it expects oil-price volatility to continue through 2015 as oil supplies, driven partly by a rising tide of new production in the U.S., outstrip demand. “I think the price will not stabilize,” he said. “The idea that you will stabilize something is wrong. Volatility is in the commodity business.”

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