Total books gigantic impairment in second quarter

The French oil supermajor takes an extraordinary impairment worth USD 8.1 billion on Canadian tar sand assets.

Photo: Gonzalo Fuentes/Reuters/Ritzau Scanpix

French oil and gas company Total books massive impairments totaling USD 8.1 billion in this year's second quarter.

The write-downs mainly pertain to Canadian tar sand assets, written down by USD 7 billion, Total informs in a press statement Wednesday evening CET.

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