Total 4Q Profit Rose; Lifts 2019 Dividend
2020年2月6日 - 05:40PM
Dow Jones News
By Giulia Petroni
Total SA (FP.FR) said Thursday that net profit in the fourth
quarter of 2019 more than doubled and increased its dividend for
the year.
The French oil major said quarterly net profit was $2.60 billion
compared with $1.13 billion in the year-earlier period. Adjusted
net income was $3.17 billion, ahead of analysts' expectations of
$2.65 billion, according to a FactSet-compiled consensus.
Total's hydrocarbon production increased to 3.11 million barrels
of oil equivalent a day compared with 2.88 million barrels of oil
equivalent a day in the year-earlier period.
The company attributed the increase mainly to the startup and
ramping-up of new projects, including Yamal LNG in Russia, Egina in
Nigeria, and Johan Sverdrup in Norway.
Full-year production rose by 9%.
Production at Total's integrated gas, renewables and power
business rose 34% in the quarter to 624 million barrels of oil
equivalent a day.
"The environment remains volatile, given the uncertainty about
hydrocarbon demand related to the outlook for global economic
growth and a context of geopolitical instability," the company
said.
Sales in the fourth quarter were down to $49.28 billion compared
with $52.5 billion the previous year, Total said.
The company proposed a dividend increase for 2019 to 68 European
cents ($0.75) a share.
Total said it projects $2 billion of share buybacks in 2020 in a
$60-a-barrel environment.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
February 06, 2020 03:25 ET (08:25 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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