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French Total's profits jump on record production

Gasoil News - Published on Mon, 11 Feb 2019

Image Source: Reuters India
French oil and gas major Total's net adjusted profit rose 10 per cent in the last quarter of 2018, enabling it to report a full year profit rise of 28 per cent to USD 13.6 billion, buoyed by record oil and gas production during the year. Total said output reached 2.8 million barrels of oil equivalent per day in 2018 thanks to the start-ups of various operations and increased production in Australia, Angola, Nigeria and Russia.

Chief Executive Officer Mr Patrick Pouyanne said in a statement that "These excellent results reflect the strong growth of more than 8 per cent of the group's hydrocarbons production."

Total said the results will enable it to continue its shareholders' return policy announced last year. After increasing dividends by 3.2 per cent in 2018, it plans a 3.1 per cent rise in 2019.

Source :

Posted By : Rabi Wangkhem on Mon, 11 Feb 2019
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