Total: continues with accounting adjustments.
(CercleFinance.com) - Total, the largest French oil and gas company, continues into the second quarter of 2017 with its accounting adjustments although the rhythm has decelerated compared to the first quarter this year.
As a result, adjusted net profits for the second quarter (Q2) have increased 14% to 2.5 billion dollars (0.97 dollars per share) after a 56% surge in Q1. Consequently, over the first six months of the year there is an increase of 32% to five billion dollars (1.98 dollars per share).
The reviewed adjusted net operating income of the Exploration-Production division, or 92% over the first half of the year, was “only” 30% in Q2. It has to be said that the average Brent price, up 30% over the half-year to 51.7 dollars, only showed gains of 9% in Q2 at 49.6 dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
As a result, adjusted net profits for the second quarter (Q2) have increased 14% to 2.5 billion dollars (0.97 dollars per share) after a 56% surge in Q1. Consequently, over the first six months of the year there is an increase of 32% to five billion dollars (1.98 dollars per share).
The reviewed adjusted net operating income of the Exploration-Production division, or 92% over the first half of the year, was “only” 30% in Q2. It has to be said that the average Brent price, up 30% over the half-year to 51.7 dollars, only showed gains of 9% in Q2 at 49.6 dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.