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2018-04-30 09:50:00

TOTAL NET INCOME $2.6 BLN

TOTAL NET INCOME $2.6 BLN

 

TOTALTotal's Board of Directors met on April 25, 2018, to review the Group's first quarter accounts. Commenting on the results, Chairman and CEO Patrick Pouyanne said:

"Oil prices continued to rebound in the first quarter 2018. Brent rose to an average of $67 per barrel, supported by strong demand, OPEC-non-OPEC compliance and geopolitical tensions. Conversely, as a result of this increase, refining margins were weaker (-34%). In this context, the Group's adjusted net income and DACF continued to increase, achieving growth of 13% and 16%, respectively, compared to a year ago, in line with announced sensitivities. Cash flow after organic investments increased to $2.8 billion, up by more than 50% from a year ago, thanks to good operational performance and continued spending discipline. Return on equity was 10%.

In line with the shareholder return policy announced in February, the Group is raising the first 2018 interim dividend by 3.2%. Scrip shares issued in January for the second 2017 interim dividend were bought back to prevent any dilution. In addition, the group bought back a further $300 million of shares to return to shareholders part of the benefit realized from higher oil prices.

First quarter production reached a record level of more than 2.7 Mboe/d, an increase of more than 5% from a year ago, despite the expiration of the Mahakam permit in Indonesia. Notable drivers included the ramp-ups of new projects, like Yamal LNG in Russia and Moho Nord in Congo, as well as the contribution of new assets, in particular Maersk Oil and Al Shaheen in Qatar. There were two start-ups in the first quarter, Fort Hills in Canada and Timimoun in Algeria.

The Group continues to prepare for the future. Major successes were achieved by successfully obtaining two new 40-year concessions in offshore Abu Dhabi, acquiring a 16% interest in the Waha onshore concession in Libya and growing its position in the deep-offshore Gulf of Mexico, following the giant discovery of Ballymore in January.

In the Downstream, the Group is pursuing its growth in petrochemicals with the finalization of a joint venture with NOVA and Borealis in the United States and by signing an agreement in principle to build a giant petrochemical complex integrated into the SATORP refinery in Saudi Arabia.

The announced acquisition of Direct Energie allows Total to accelerate its development in gas and power generation and distribution in France and Belgium. This transaction is part of the Group's strategy to expand along the entire gas-power value chain and to develop low-carbon energies. "

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Earlier:

 TOTAL BUYS IN LIBYA
2018, March, 4, 10:45:00

TOTAL BUYS IN LIBYA

REUTERS - French energy company Total (TOTF.PA) substantially raised its presence in Libya with the purchase of a 16.33 percent stake in Libya’s Waha concessions from U.S. Marathon Oil (MRO.N) for $450 million on Friday.

 НОВАТЭК - TOTAL - SIEMENS ДЛЯ ВЬЕТНАМА
2017, December, 4, 22:40:00

NOVATEK - TOTAL - SIEMENS FOR VIETNAM

NOVATEK - PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that its subsidiary NOVATEK Gas and Power Asia Pte Ltd signed a Memorandum of Understanding (MOU) with Total Gas & Power Business Services S.A.S and Siemens Aktiengesellschaft.

 TOTAL ACQUIRES ENGIE'S LNG $2 BLN
2017, November, 13, 10:05:00

TOTAL ACQUIRES ENGIE'S LNG $2 BLN

Total SA has agreed to acquire LNG assets from Engie SA for as much as $2.04 billion. The deal includes interests in liquefaction plants, long-term LNG sales and purchase agreements, an LNG tanker fleet, and access to regasification capacities.

 TOTAL NET INCOME $7.6 BLN
2017, October, 30, 11:25:00

TOTAL NET INCOME $7.6 BLN

"Total reported adjusted net income of $2.7 billion this quarter, a 29% increase compared to a year ago while the Brent price increased by 14%. This solid performance was also reflected in a return on equity of close to 10% and strong cash flow generation: excluding acquisitions-divestments, the Group generated $2.1 billion of cash flow after investments in the third quarter 2017 and $5.2 billion in the first nine months. The Group took full advantage of the favorable environment thanks to the performance of its integrated model and its strategy to reduce its breakeven point.

 TOTAL BUYS RENEWABLE
2017, September, 20, 08:40:00

TOTAL BUYS RENEWABLE

Total has picked up a 23 per cent stake in renewable energy company Eren for €237.5m as the the French oil group looks to expand its capacity in the sector.

 TOTAL - MAERSK DEAL: $7.45 BLN
2017, August, 24, 13:40:00

TOTAL - MAERSK DEAL: $7.45 BLN

French oil company Total agreed Monday to buy Danish conglomerate AP Moller-Maersk's oil business for $7.45 billion, in a deal that will strengthen its position in the North Sea.

 TOTAL NET INCOME $2.5 BLN
2017, July, 28, 09:35:00

TOTAL NET INCOME $2.5 BLN

"In a price environment that remains volatile, Total again delivered an excellent set of quarterly results with adjusted net income of $2.5 billion, a 14% increase compared to a year ago, and operating cash flow before working capital changes of $5.3 billion, a 33% increase, while Brent only increased by 9%. In the first half of the year, the Group generated more than $3.1 billion of cash flow after investments, excluding acquisitions and divestments.

Tags: TOTAL
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