Total Net Income Down

Total of France said its net income in the first quarter of this year dropped 10 percent compared to the same period before.

Total Net Income Down 1

The Group reported adjusted net income of S3.3 billion for the first quarter, solid results albeit slightly lower than last year. The impact of sharply lower European refining margins was limited thanks to the implementation of performance improvement plans by the segment,” Total’s Chairman and CEO Christophe de Margerie said.

Operational excellence and capital discipline are the cornerstones of our robust results. With the CLOV project expected to start up on schedule, the Group launched the Kaombo project in the first quarter in ultra-deep offshore Angola. Kaombo illustrates perfectly our commitments and ambitions by combining innovative engineering solutions and disciplined cost management to create a competitive project. Regarding exploration, several promising wells are in progress or about to start, notably in Brazil, the Kwanza basin in Angola, and deep-offshore Ivory Coast, following our recent discovery in the frontier San Pedro basin.”

In all the segments, our teams are working to translate our announced cost reduction commitment into tangible targets and are ready to participate in making the company more efficient, while keeping safety and the environment as our highest priorities,” he concluded.

Press Release, April 30, 2014; Image: Total

Share this article

Follow LNG World News

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 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 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >