Seeking Alpha

Total Q4 net profit slumps

  • Total's (TOT) Q4 net profit slumped 19% to €2.47B ($3.37B) and missed consensus of €2.59B, hurt by a slight fall in output, the weaker dollar, poor results at the oil company's refining operations, and delays at important oil fields such as Kazakhstan's Kashagan.
  • Revenue -4% to €47.75B.
  • Production 2.28M barrels of oil equivalent a day vs 2.29M.
  • Total reiterated its 2015 production goal of 2.6M barrels of oil equivalent a day and the potential for 3M in 2017.
  • Shares +1% in Paris. (PR)
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