Total Second-Quarter Profit Drops on Lower Libyan Production
This article is for subscribers only.
Total SA, Europe’s third-largest oil producer, said second-quarter profit dropped as field maintenance and Libya shutdowns crimped production.
Adjusted net income fell 6 percent to 2.8 billion euros ($4 billion), or 1.24 euros a share, in line with analyst forecasts. Production dropped 2 percent to 2.31 million barrels a day, the Paris-based company said in a statement today. The company will pay an interim dividend of 57 euro cents a share.