The results came in above estimates and the dividend was confirmed. The group reported substantial trading profits, which seems to be a constant this quarter. This was expected with such volatility, but difficult to model properly. The group took an $8.1bn impairment, of which $5bn on Canadian reserves with Total leaving them unexploited. Oil majors recognizing the presence of stranded assets is a strong signal and confirms the group’s stance on the energy transition.
30 Jul 2020
Q2: dividend maintained
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Q2: dividend maintained
TotalEnergies SE (TTE:LON) | 6,720 -2016 (-0.4%) | Mkt Cap: 160,396m
- Published:
30 Jul 2020 -
Author:
Kevin VO -
Pages:
3
The results came in above estimates and the dividend was confirmed. The group reported substantial trading profits, which seems to be a constant this quarter. This was expected with such volatility, but difficult to model properly. The group took an $8.1bn impairment, of which $5bn on Canadian reserves with Total leaving them unexploited. Oil majors recognizing the presence of stranded assets is a strong signal and confirms the group’s stance on the energy transition.