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4/26, 8:12 AM (Source: TeleTrader)
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Total's Q1 net income rises 18% to $3.1B

French oil and gas company Total S.A. reported on Friday it earned a net income of $3.1 billion in the first quarter of 2019, 18% more than in the same three-month period a year ago. Meanwhile, adjusted net income slipped 4% annually to reach $2.76 billion, or $1.02 per share.

Hydrocarbon production recorded a 9% annual growth, lifting the company's cash flow (DACF) by more than 15% to $6.5 billion. The production increase was attributed to a start-up and ramp-up of new projects, including Yamal LNG in Russia, Ichthys in Australia, Kaombo North in Angola and Egina in Nigeria. The group also noted two oil discoveries, Brulpadda in South Africa and Glengorm in the UK North Sea.

Breaking the News / FH