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2016-04-27 20:30:00

TOTAL DOWN 40%

TOTAL DOWN 40%

 

TOTAL FIRST QUARTER 2016 RESULTS

 

TOTAL 1Q 2016 RESULTS

 

Oil refining helped Total return to profitability in the first quarter, though earnings remain well below the level of this time last year.

The French oil company said on Wednesday it had made $1.6bn in adjusted net income in the first three months of the year. This marks a turnround from the previous quarter, when it made a loss of $1.8bn, but remains some way below the $2.6bn it made in the first quarter of last year.

The profits beat analysts' forecasts of $1.2bn, and were boosted by better than expected performance by Total's oil refineries. Profits in the refining and chemicals division were 3 per cent higher than last year at $1.1bn.

This helped make up for a big drop in profits from Total's exploration and production business, which fell 63 per cent on last year to $498m.

These upstream activities have been the hardest hit by the falling oil price. For the first three months of this year, the average price of a barrel of Brent crude was $34. In the previous quarter it was $44, and a year ago it was $54.

total.com

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More: 

OIL MAJORS: THE WORST 

MAJORS WANT MORE 

TOTAL STARTS GAS PROJECT 

TAKEOVERS $500 BLN 

TOTAL NET INCOME $6.7 BLN

 

 

 

 

 

Tags: TOTAL, OIL, GAS, PRICES

Chronicle:

TOTAL DOWN 40%
2017, December, 15, 12:50:00

LUKOIL'S PLAN: $50

LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.

TOTAL DOWN 40%
2017, December, 15, 12:45:00

BP INVESTS TO SOLAR

BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.

TOTAL DOWN 40%
2017, December, 13, 12:40:00

OIL PRICE: ABOVE $64 YET

REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.

TOTAL DOWN 40%
2017, December, 13, 12:35:00

RUSSIAN-TURKISH NUCLEAR

ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.

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