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PARIS, Oct 29 (Reuters) - French oil and gas company Total's net adjusted profit tumbled 23 percent to $2.756 billion in the third quarter compared with the same period a year ago, the firm said on Thursday, hit by a sharp fall in global oil prices. The firm however revised its production growth target higher to more than 9 percent this year from 8 percent previously following a 10 percent jump in production in a third quarter boosted by new projects. Analysts on average had expected $2.391 billion in net adjusted profit, according to Thomson Reuters I/B/E/S estimates. "In a context where the oil price has fallen by 50 percent in one year, Total was able to demonstrate its resilience by limiting to 23 percent the decrease in its third quarter adjusted net income of $2.8 billion," Chief Executive Officer Patrick Pouyanne said in a statement. Record-high margins in the European refining sector boosted profits at Total's downstream division, which were up 82 percent on the previous year in the third quarter. Total said that it was on track to more than beat its target of $1.2 billion in cost reductions in 2015, while organic investments after nine months were $16.6 billion, in line with the objective of $23-24 billion for 2015. Rival BP on Tuesday announced a third round of spending cuts and more asset sales over the coming years to tackle the extended period of low oil prices and help pay for its $54 billion U.S. oil spill settlement. Total said it would pay an interim dividend of 0.61 euro per share in the quarter. (Reporting by Bate Felix; Editing by Michel Rose and Andrew Callus)
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TOTAL
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PRODUCTEUR |
CODE : FP.PA |
ISIN : FR0000120271 |
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TOTAL est une société de production minière et de pétrole basée en France. TOTAL est productrice de gaz au Trinidad. Son principal projet en production est ANGOSTURA GAS au Trinidad. TOTAL est cotée au Royaume-Uni, aux Etats-Unis D'Amerique, en Allemagne et en France. Sa capitalisation boursière aujourd'hui est 96,8 milliards €UR (118,3 milliards US$, 96,9 milliards €). La valeur de son action a atteint son plus bas niveau récent le 04 juin 1993 à 10,01 €UR, et son plus haut niveau récent le 02 juin 2021 à 39,69 €UR. TOTAL possède 2 440 058 000 actions en circulation. |