Total loses in profit, but gains in production

In the third quarter of this year, oil company Total saw its profits fall, but it set a record production with more than 3 million bpd (barrels oil per day), which made its cash flow stable. The reason of the fall would be low oil and gas prices.

By the end of September, net income fell by 24% in parallel with the same period last year. On the other hand, production increased 8.4% in the current comparison. According to the company, the growth was due to the production of the Ichthys project, Yamal LNG and the development of Culzean gas from Western Australia, Russia and the United Kingdom, respectively.

For Patrick Pouyanne, President of Total, the company continues to achieve good results despite the drop in the price of Brent and the gas price in Europe and Asia.


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