Total Reports Near-Best Quarter, ‘Outstanding' Exploration Results

摘要

Total released on Friday third-quarter re- sults detailing underlying pre-exceptional profit of $4 billion, up 24% year-on-year and ahead of analyst consensus forecasts — with Chief Financial Officer Patrick de La Chevardiere telling an analyst confer- ence call that this was one of the "best quarters ever" for the French oil giant. Upstream production of 2.3 million barrels of oil equivalent per day was 1% down year-on-year in absolute terms, as the loss of Libyan production throughout the recent civil war — which amounted to 2.5% year-on-year — outweighed what would otherwise have been a 1.5% in- crease once natural decline, entitlement effects, and acquisitions and divestments were all netted off against one another.