Total raises earnings by almost 50 percent

The integration of Maersk Oil's assets is starting to gain ground with the French oil major, now showing a net income in excess of USD 10 billion.

Photo: Bloomberg

French Total is adding a massive sum to its net income for this year's third quarter. With 2.8 million barrels of oil equivalent per day, production is up by 8.6 percent relative to the same period last year, while adjusted net income increased with a whopping 48 percent to USD 4 billion after taxes. The oil major has thereby surpassed USD 10 billion in earnings for this year's first nine months.

"These results confirm the Group's ability to take full advantage of the favorable environment and to deliver on its objectives for production growth and cost discipline thanks to a very good operational efficiency," writes Total CEO Partick Pouyanné in the Q3 interim report.

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