The company reported adjusted net income for Q1 17 of $2.6bn, 8% above the consensus and up 56% yoy. 1) In the upstream division the group increased its operating results by 3.6x compared to a year ago, leading adjusted net income in the division to $1.4bn in Q1 17. Production came up by 4%, driven by the ramp-up of projects and more by natural gas (+7%) than liquids (+1%). Cost reductions helped to improve the results but the lack of details in the report doesn’t help us to know more.
27 Apr 2017
Q1 17: thanks OPEC
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Q1 17: thanks OPEC
TotalEnergies SE (TTE:LON) | 6,750 -2025 (-0.4%) | Mkt Cap: 161,112m
- Published:
27 Apr 2017 -
Author:
Alexandre Andlauer -
Pages:
3
The company reported adjusted net income for Q1 17 of $2.6bn, 8% above the consensus and up 56% yoy. 1) In the upstream division the group increased its operating results by 3.6x compared to a year ago, leading adjusted net income in the division to $1.4bn in Q1 17. Production came up by 4%, driven by the ramp-up of projects and more by natural gas (+7%) than liquids (+1%). Cost reductions helped to improve the results but the lack of details in the report doesn’t help us to know more.