Total Adjusted Net Income Drops (France)

Total Adjusted Net Income Drops (France)

French energy giant Total said it adjusted net income was 2,699 M€ in the second quarter 2013 compared to 2,7 91 M€ in the second quarter 2012, a decrease of 3%.

Cash flow from operations was 3,706 M€ in the second quarter 2013, compared to 6,167 M€ in the second quarter 2012.

Commenting on the results, Chairman and CEO Christophe de Margerie said: “With adjusted net income of 2.7 billion euros this quarter, the Group demonstrated its strong resilience in the Upstream desp ite lower hydrocarbon prices.

“The restart of production at Elgin/Franklin in the UK and the first cargo from Angola LNG were not able events of the quarter.

“Regarding our Upstream projects, the launch of the Egina deep – offshore project and the progress on Yamal LNG illustrate our ability to prepare for the future in a sustainable manner by developing competitive and diverse projects.

“In this way, the Group expects to benefit from an extended series of start – ups over the next several years.

“Th e Downstream reaped the initial benefits of the restructuring program even though further changes are still necessary to strengthen our position.

“The modernization of the Antwerp platform announced this quarter is yet another step in this program and demonstrates again that our economic performance is inextricably linked with our social and environmental commitments.”

LNG World News Staff, July 26, 2013; Image: Total

Share this article

Follow LNG World News

Events>

<< Mar 2015 >>
MTWTFSS
23 24 25 26 27 28 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Flame Conference 2015

Known as the European meeting place for the global gas community, Flame is the annual meeting place for the industry where the most…

read more >

Fundamentals of LNG

Operational and commercial essentials of the Liquefied Natural Gas sector from IBC Academy…

read more >

LNG Congress Russia 2015

The main aim of the LNG Congress Russia 2015 is to create a strategic expert platform for successful discussion and search of solutions…

read more >

LNG Markets, Supply and Pricing

This course will provide you with a detailed knowledge when it comes to the workings of the LNG Value Chain and how the business fits together…

read more >