Decent results from Total, net profit is 6% above consensus and 12% down qoq. Upstream, production is up by 2% at 2.95mbpd, realised prices are down 1% compared to an 8% quarterly decrease for Brent as the situation normalised in Canada this quarter. Integrated gas renewables and power is the positive surprise of the release. Net profit is down 12% qoq compared to spot prices down 35% qoq, showing the ability of Total’s LNG portfolio to withstand difficult market conditions.
26 Apr 2019
Q1: LNG portfolio resilient to the low spot prices
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Q1: LNG portfolio resilient to the low spot prices
TotalEnergies SE (TTE:LON) | 6,720 -2016 (-0.4%) | Mkt Cap: 160,396m
- Published:
26 Apr 2019 -
Author:
Kevin VO -
Pages:
3
Decent results from Total, net profit is 6% above consensus and 12% down qoq. Upstream, production is up by 2% at 2.95mbpd, realised prices are down 1% compared to an 8% quarterly decrease for Brent as the situation normalised in Canada this quarter. Integrated gas renewables and power is the positive surprise of the release. Net profit is down 12% qoq compared to spot prices down 35% qoq, showing the ability of Total’s LNG portfolio to withstand difficult market conditions.