(MENAFN- AFP) Blockades of five refineries run by Total in France will cause the French oil giant to "seriously review" its domestic investments, the group's CEO said Tuesday.
Patrick Pouyanne said strikes and blockades by union activists that had fully or partially crippled its refineries "will lead us to seriously review the investment plans we have for all sites in France" under a restructuring programme.
"If our colleagues want to take an industrial asset hostage for a cause that is foreign to the company, you have to ask whether that is where we should invest," Pouyanne told reporters on the sidelines of a shareholders' general meeting.
"In any case, we should reflect clearly on the question, both the management and the board of directors," he said.
The refinery blockades are part of demonstrations against the government's labour market reforms that opponents say are weighed in favour of business.
In the face of persistently weak oil prices, Total has slashed costs and said it would be ramping down investment in 2016, with investment in its own businesses now seen falling short the $19 billion (17 billion euros) announced in February. That figure was already down on $23 billion for 2015.
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