Personal tools
Skip to content. Skip to navigation

EUbusiness.com - business, legal and economic news and information from the European Union

Sections
You are here: Home Breaking news Total reports seven-billion-euro first semester profit
Document Actions

Total reports seven-billion-euro first semester profit

01 August 2008, 09:56 CET

(PARIS) - French oil giant Total on Friday reported net earnings of seven billion euros for the first half of 2008, a 15-percent increase fuelled by soaring oil prices.

Adjusted net income for the first semester was 6.977 billion euros (10.7 billion dollars), while turnover jumped 21 percent to 92.4 billion euros compared to the same period in 2007, according to a statement.

High oil prices boosted earnings for the group's upstream oil exploration and production activities, comfortably offsetting a slump in sales at petrol pumps, Total figures showed.

Brent North Sea crude prices jumped 72 percent between the first half of 2007 and the first half of 2008, closing Thursday at 123.98 dollars a barrel, Total noted.

Text and Picture Copyright 2008 AFP. All other Copyright 2008 EUbusiness Ltd. All rights reserved. This material is intended solely for personal use. Any other reproduction, publication or redistribution of this material without the written agreement of the copyright owner is strictly forbidden and any breach of copyright will be considered actionable.