By Kim Richters 
 

Total SA said Monday that it is implementing an "action plan" in light of the decline in oil prices.

The measures include organic capital expenditure cuts of over $3 billion and lowering its net investments in 2020 to less than $15 billion, the French oil company said.

Total's plan also entails increasing its operating costs savings for the year to $800 million from $300 million and suspending its $2 billion buyback plan for 2020.

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

March 23, 2020 04:06 ET (08:06 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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