| France's Total profit falls 30 percent due to oil price drop | |
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PARIS (AP) -- French energy company Total SA says its net income fell 30 percent in the second quarter to $2.09 billion due to the impact of lower oil prices.
The Paris-based company said its sales for the April-June period were $37.22 billion, down from $44.72 billion in the year-earlier period.
Chairman and CEO Patrick Pouyanne said the company will continue to focus on reducing costs and expects to "surpass the $2.4 billion cost reduction target for this year."
The company said in its earnings statement that it had been "resilient in a weak environment" but noted that oil prices had recovered somewhat compared with the beginning of 2016. It also confirmed its objective to generate a net $2 billion from the sale of assets over the course of the year.
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TOTAL
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PRODUCER |
CODE : FP.PA |
ISIN : FR0000120271 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
TOTAL is a and oil producing company based in France. TOTAL produces natural gas in Trinidad. Its main asset in production is ANGOSTURA GAS in Trinidad. TOTAL is listed in France, in Germany, in United Kingdom and in United States of America. Its market capitalisation is €UR 96.8 billions as of today (US$ 118.3 billions, € 96.9 billions). Its stock quote reached its lowest recent point on June 04, 1993 at €UR 10.01, and its highest recent level on June 02, 2021 at €UR 39.69. TOTAL has 2 440 058 000 shares outstanding. |