Total 3Q Net Income Rose Almost 40%
27 Octobre 2017 - 09:20AM
Dow Jones News
By Marc Bisbal Arias
Total SA (FP.FR) said Friday that its third-quarter net income
rose almost 40% compared with a year earlier, citing higher Brent
oil prices and a low-cost environment.
Net income was $2.72 billion compared with $1.95 billion in the
year-earlier period, while revenue increased 15% to $43.04 billion,
the company said.
Total said that adjusted net operating income in its exploration
and production division increased by 84% to $1.43 billion. Adjusted
net operating income from refining and chemicals was 11% higher
than the year-earlier period at $1.02 billion, while the marketing
and services division's adjusted net operating income rose 14% to
$506 million, Total said.
Hydrocarbon production during the third quarter was 2.58 million
barrels of oil equivalent a day, the company said.
The French oil-and-gas company generated $2.1 billion of cash
flow after investments, said Chief Executive Patrick Pouyanne,
adding that Total took "full advantage" of the favorable market
environment thanks to its strategy aimed at reducing its break-even
point.
Mr. Pouyanne said that Total's organic investments were $3.1
billion, in line with its target of $14 billion for the year. He
added that the company's cost reduction will amount to more than
$3.6 billion, surpassing the target for the year.
Total declared a dividend of EUR0.62 per share, payable in April
2018.
Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
October 27, 2017 03:05 ET (07:05 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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