Total’s Q3 profit surges, LNG sales decline

For illustration purposes only (Image courtesy of Total)

French energy giant and LNG player Total saw its third-quarter adjusted net profit soar on the back of increasing oil prices and higher production.

“Total’s third quarter adjusted net income increased by 48 percent from last year to $4 billion, while oil prices increased 44 percent to $75 per barrel supported by supply tensions and the geopolitical context,” Total’s Chief Executive Officer Patrick Pouyanne said in a statement.

Total’s production rose 8.6 percent to 2.8 million barrels of oil equivalent per day (Mboe/d), a new record output in a quarter, boosted by the start-up of production at the Kaombo project in Angola, Ichthys LNG in Australia and the second Yamal LNG train in Russia.

Total’s liquefied natural gas (LNG) sales during the period under review declined 6 percent compared to the corresponding period in 2017.

LNG sales were at 2.78 million tonnes, compared to 2.95 million tonnes in 2017.

Total’s LNG sales during the first nine months also declined. Sales volumes reached 7.75 million tonnes, 9 percent below the same period in 2017.

 

LNG World News Staff

Share this article

Follow LNG World News

Posted on October 26, 2018 with tags .

Events>

<< Aug 2019 >>
MTWTFSS
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 31 1

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 >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

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 >