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2017-04-27 20:00:00

TOTAL NET INCOME $2.8 BLN

TOTAL NET INCOME $2.8 BLN

TOTAL - Total's Board of Directors met on April 26, 2017, to review the Group's first quarter accounts. Commenting on the results, Chairman and CEO Patrick Pouyanne said: "Supported by the OPEC/non-OPEC agreement, Brent prices remained volatile in the context of high inventories and averaged 54 $/b this quarter. In this environment, Total's adjusted net income increased by 56% to $2.6 billion in the first quarter 2017, in line with the strong recent quarterly results of 2016, due to good operational performance and a steadily decreasing breakeven. Excluding acquisitions and asset sales, the Group generated $1.7 billion of cash flow after investments, mainly due to a 63% increase in operating cash flow before working capital changes from the Exploration & Production segment and investment discipline.

Upstream production continued to grow by 4% per year with the start-up of the giant Moho Nord field in Congo. To prepare for future growth, Total signed a strategic alliance with Petrobras, gaining access to the giant lara and Lapa fields in Brazil, without being preempted by any of the partners in the license. In addition, Total signed a global partnership agreement with Sonatrach, enabling it to consolidate its future development in Algeria.

The Downstream continued to take advantage of favorable margins due to the high availability of its installations. The Group is pursuing its profitable growth strategy for petrochemicals with the sanction of two major new investments in the United States and South Korea, benefiting from the current low cost environment. The Marketing & Services segment completed the acquisition of new assets in East Africa, reinforcing its leadership position on the continent.

In this context, the net-debt-to-equity ratio decreased to 22.7%, notably due to the finalization of the $3.2 billion sale of Atotech. The strength of the balance sheet and relentless pursuit of cost reductions allows the Group to launch new projects and acquire resources while fully benefitting from the ongoing deflation in the oil sector."

TOTAL KEY FIGURES 1Q 2017

 

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Earlier: 

TOTAL WANTS IRANIAN GAS 

TOTAL NET INCOME $8.3 BLN 

TOTAL & CNPC: IRANIAN DEAL 

TOTAL NET INCOME DOWN 16% 

TOTAL & GAZPROM IN BOLIVIA

 

 

Tags: TOTAL

Chronicle:

TOTAL NET INCOME $2.8 BLN
October, 20, 12:10:00

NORWAY'S PRODUCTION DOWN 171 TBD

NPD - Preliminary production figures for September 2017 show an average daily production of 1 772 000 barrels of oil, NGL and condensate, which is a decrease of 171 000 barrels per day compared to August.

TOTAL NET INCOME $2.8 BLN
October, 20, 12:05:00

ЦЕНА URALS: $ $55,55881

Средняя цена на нефть Urals за период мониторинга с 15 сентября по 14 октября 2017 года составила $55,55881 за баррель, или $405,6 за тонну.

TOTAL NET INCOME $2.8 BLN
October, 18, 19:10:00

OIL PRICE: ABOVE $58

Brent crude futures, the international benchmark for oil prices, were at $58.16 at 0643 GMT, up 28 cents, or 0.5 percent from their last close - and almost a third above mid-year levels. U.S. West Texas Intermediate (WTI) crude futures were at $52.03 per barrel, up 15 cents, or 0.3 percent, and almost a quarter above mid-June levels.

TOTAL NET INCOME $2.8 BLN
October, 18, 19:05:00

РОССИЯ: БОЛЬШЕ НЕФТИ И ГАЗА

Александр Новак отметил рост основных показателей всех отраслей энергетики в прошлом году: «Мы имеем рекордные показатели за прошлый год по добыче нефти, угля. Идёт рост добычи и экспорту газа, в том числе в Европу на уровне 15 процентов. По углю мы наблюдаем рост добычи даже больше уровня прошлого рекордного года. Также отмечается рост производства электроэнергии на 2%, что говорит об оживлении экономики».

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