French oil closes 2016 with profit 16% higher

The French giant Total announced that in the fourth quarter 2016 reported net income of $ 548 million up 16% compared to the same period last year. With the proceeds totaling US $ 2.41 billion, the oil could reduce the loss of $ 1.63 billion recorded in the same period in 2015.

The gain of the company exceeded the expectations of analysts who had forecast total profit of $ 2.26 billion. The turnaround was due to the organization's production increase, which obtained an increase of 4.5%, snapping up the proportion to 2.45 million barrels of oil equivalent (BoE).

According to information from Dow Jones Newswires, the oil was optimistic about future prospects in the oil market and has plans to launch ten new projects in the next 18 months. Continue following the Panorama Offshore and keep always informed about everything that happens in the world of oil, gas and offshore. Your business goes through here. Check out:


5 thoughts on “French oil closes 2016 with profit 16% higher

Leave a Reply