Total Pledges 2013 Production Growth After Profit Rises 13%
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Total SA, Europe’s third-largest oil producer, expects production to increase as much as 3 percent this year after reporting a 13 percent rise in 2012 profit on an improved refining performance.
Profit excluding changes in inventories advanced to 3.1 billion euros ($4.2 billion) in the fourth quarter from 2.7 billion euros a year earlier, the Paris-based company said today in a statement. That compares with the 3 billion-euro average estimate of 11 analysts surveyed by Bloomberg.