Total says leak could stop by May

A leak at Total's North Sea Elgin gas platform could be stopped by the end of April if everything goes as planned, UK managing director Philippe Guys said yesterday. Guys said that the French oil major planned to carry out a successful “dynamic kill” on the leaking G4 well before May. “We are working hard and if all goes as planned we envisage by the end of this month we should be having control of the well,” he said. Total has said the leak is costing it $2.5m (£1.5m) a day so far, and its stock has dropped by almost seven per cent since it was reported, knocking billions of euros off the company's value.