By division As mentioned prviously, in upstream, the results were down 28% yoy to $1.1bn. Production grew by 5% yoy, mainly driven by natural gas (+9%) and cost cutting helped to offset the price decrease on a yoy basis (from $58.2/bbl to $43/bbl). Natural gas prices were lower than in Q1 16 at $3.43/mmbtu vs. $3.46/mmbtu for the group and $4.67/mmbtu a year ago. In downstream, earnings were down 25% yoy to $1bn. Refinery throughput decreased by 10% yoy due to outages in Europe and the US. Th
01 Aug 2016
Q2 16: best results amongst the European big oils
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Q2 16: best results amongst the European big oils
TotalEnergies SE (TTE:LON) | 6,720 -2016 (-0.4%) | Mkt Cap: 160,396m
- Published:
01 Aug 2016 -
Author:
Alexandre Andlauer -
Pages:
4
By division As mentioned prviously, in upstream, the results were down 28% yoy to $1.1bn. Production grew by 5% yoy, mainly driven by natural gas (+9%) and cost cutting helped to offset the price decrease on a yoy basis (from $58.2/bbl to $43/bbl). Natural gas prices were lower than in Q1 16 at $3.43/mmbtu vs. $3.46/mmbtu for the group and $4.67/mmbtu a year ago. In downstream, earnings were down 25% yoy to $1bn. Refinery throughput decreased by 10% yoy due to outages in Europe and the US. Th