Total: adjusted net income dives in Q2
(CercleFinance.com) - Total has reported adjusted net income group share of 130 million dollars for the second quarter of 2020, plunging 96% year-on-year, bringing the oil and gas company's EPS to just two cents.
The oil group explains that it suffered from exceptional market conditions, with the health crisis ravaging the world economy, along with the crisis in the oil markets, with historically low gas prices and a sharp fall in refining margins.
In market environment in which the price of Brent oil has 57% to 29.6 dollars per barrel, Total saw its hydrocarbon production fall by 4% over one year, to just under 2.85 million barrelsof oil equivalent per day.
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The oil group explains that it suffered from exceptional market conditions, with the health crisis ravaging the world economy, along with the crisis in the oil markets, with historically low gas prices and a sharp fall in refining margins.
In market environment in which the price of Brent oil has 57% to 29.6 dollars per barrel, Total saw its hydrocarbon production fall by 4% over one year, to just under 2.85 million barrelsof oil equivalent per day.
Copyright (c) 2020 CercleFinance.com. All rights reserved.