Oct 30 2010
The increase in oil prices pulls results from Total
Total signs a positive third quarter. According to a statement released Friday, the group's net profit jumped 47% to 2.8 billion euros. Adjusted net income reached 2.5 billion, up 32%. The latter figure is close to 2.421 billion expected by analysts.
The production is also consistent with expectations 2.340 million barrels of oil equivalent per day (+4.3%) against 2.326 million expected. This increase is explained by "the rise of new projects," the statement said.
The group noted that the closure of the Dunkirk refinery is the main reason for the 3% decline in volumes refined in the third quarter. "The group has maintained good operational performance in its other refineries," says Total.
The price of Brent crude gained 35% over nine months
The turnover in the three months climbed 19% to 40.180 billion euros.This result is supported by an increase in the average price of a barrel of Brent over the period. The latter averaged 76.9 dollars per barrel cons about $ 68 in the third quarter 2009, an increase of 13%.
In the first nine months of the year, net income Group share reached EUR 8.541 billion, up 34% while sales grew 25% to 119.112 billion. "Compared to the first nine months of 2009, the oil market for the first nine months of 2010 was marked by an increase of 35% of the average Brent price at 77.1 dollars per barrel," said the group low fee pay day loans.
Production over this period is marked by an increase of 6% to 2.375 million barrels of oil equivalent per day.
Quarterly distribution of dividends
For the remainder of the year, Total has announced a goal of maintaining its debt ratio in the range of 25-30%.Without giving prospects of impact, the oil group notes that early in the fourth quarter has been marked by "social movement against pension reform (which) have resulted in the temporary refinery in France."
The continuing decline of the dollar combined with rising crude prices with the "winter season approaches, consider leaving a late positive year for the oil giant.
Total points out that it will pay a deposit in November for the 2010 dividend of 1.14 euro per share. The Board of Directors meeting Thursday, decided that the dividend for fiscal 2011 would now be distributed quarterly, "the first to be paid during September 2011.
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