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PARIS (AP) -- Total SA reported a steep drop in third quarter profit as plummeting oil prices offset a hike in the French energy giant's production.
Total says its third quarter net profit fell to $1.1 billion from $3.46 billion a year earlier as oil prices slumped by around 50 percent. Sales fell 33 percent to $40.6 billion.
Total raised production 10 percent to 2.3 million barrels a day in the quarter. New project start-ups and ramp-ups helped boost production, notably a deep offshore development in Angola and another in the North Sea, Total said Thursday.
Excluding one-time items and fluctuations in the value of inventories, the company said profit dropped 23 percent to $2.8 billion from 3.1 billion a year earlier, reflecting the plunge in oil prices.
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TOTAL
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PRODUCER |
CODE : FP.PA |
ISIN : FR0000120271 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
TOTAL is a and oil producing company based in France. TOTAL produces natural gas in Trinidad. Its main asset in production is ANGOSTURA GAS in Trinidad. TOTAL is listed in France, in Germany, in United Kingdom and in United States of America. Its market capitalisation is €UR 96.8 billions as of today (US$ 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. |