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Total is latest oil major with strong profit


Total is latest oil major with strong profit


France’s Total is the latest energy company to post strong third-quarter results.

Its adjusted net profit rose by almost 32 percent to 2.48 billion euros thanks to higher oil and gas prices and increased production.

Europe’s third-largest oil company said that staff are returning to work at six of its refineries in France after striking against pension reform.

As well as 4.3 percent increased output, Total’s chemicals business performed better.

Analysts welcomed a decision by the group’s board to pay the 2011 dividend on a quarterly basis instead of semi-annually.

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