Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Total’s profit soars on higher oil prices, LNG sales decline

    Total’s profit soars on higher oil prices, LNG sales decline

    July 28, 2018
    Share
    Facebook Twitter LinkedIn WhatsApp
    *Total.

    28 July 2018, News Wires — French energy giant and LNG player Total saw its second-quarter adjusted net profit soar on the back of increasing oil prices.

    The company reported a 44 percent jump in adjusted net income for the second quarter of 2018, reaching $3.6 billion compared to $2.7 billion in the second quarter last year.

    Total’s liquefied natural gas sales during the period under review declined 7 percent compared to the corresponding period in 2017.

    LNG sales were at 2.47 million tons, compared to 2.67 million ton in 2017.

    Total’s report also shows that LNG sales during the first six months declined. Sales volumes reached 4.97 million tons, 12 percent below the 5.66 million tons sold in the first half of 2017.

    Total’s chairman and CEO Patrick Pouyanne noted that its production “strongly increased by 8.7 percent from a year ago to 2.7 Mboe/d, due to the contribution from Maersk Oil and the ramp-up of new projects, including Yamal LNG, Moho Nord and Fort Hills.”

    The company expects it production growth to be above 7 percent in 2018, benefiting in the coming months from start-ups of Kaombo, Tempa Rossa, Ichthys LNG and Egina, which are all seen as strong cash flow generators, as well as the ramp-up of production at Yamal LNG, Moho Nord and Fort Hills.

    • LNG World News

    Related News

    Can the African Energy Bank transform the continent’s refining and downstream future?

    Angola’s Block 17 partners sign license extension

    Tinubu pardons Ken Saro-Wiwa, confers national honours on Ogoni Nine

    E-book
    Resilience Exhibition

    Latest News

    LASG approves seven dedicated truck parks for Lekki Port axis

    June 13, 2025

    NCDMB Executive Secretary joins AEW 2025 amid focus on enhancing local capacity

    June 13, 2025

    AfDB to provide $184.1m for Africa’s largest solar energy and battery storage project

    June 13, 2025

    NSC seeks closer collaboration with Police to boost port enforcement

    June 13, 2025

    Can the African Energy Bank transform the continent’s refining and downstream future?

    June 13, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.