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>

<< Feb 2019 >>
MTWTFSS
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 1 2 3

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

2nd CWC Japan LNG & Gas Summit

The highly successful CWC Japan LNG & Gas Summit returns for a second year from 19-20 February 2019 in Tokyo, Japan…

read more >

Global LNG Forum 2019

Global LNG Forum is your opportunity to see what the future of LNG will be like…

read more >

LNG2019

LNG2019 is presented by the IGU, GTI and IIR, supported by the Shanghai Government and hosted by China LNG Association, China Gas Society, The Chinese Association of Refrigeration and China Gas Association.

read more >