Stung by Steep 2Q Decline in Commodity Prices, Total Sees More Volatility Ahead

摘要

Total SE recorded a big loss in the second quarter and took an $8.1 billion impairment as oil, natural gas and liquefed natural gas (LNG) prices all declined pre- cipitously and the global economy reeled from the Covid-19 pandemic. An oil market crisis, historically low natural gas prices and the economic slow- down in Europe decreased petroleum product demand at the company’s retail networks and dented its earnings, as other supermajors have also reported.