Total divests stake in Italian field

French oil major Total has divested a 25 per cent interest in the Tempa Rossa field in Italy to Mitsui for €1.6bn (£1.4bn). The oil giant still owns a 50 per cent stake in the Gorgoglione area – of which Tempa Rossa is a field – and keeps its role as operator, while Shell owns 25 per cent. The field is due to come on stream in early 2016, producing 50,000 barrels of oil a day, boosting Italy’s oil output by almost 40 per cent as a result.