France’s Total Q2 profit for refining and chemicals surges to €383m

06 August 2012 14:45  [Source: ICIS news]

SINGAPORE (ICIS)--French oil and gas major Total said on Friday its refining and chemicals business’ adjusted net operating income more than doubled to €383m ($461m) in the second quarter of this year, compared with €180m in the same period a year earlier, amid higher utilisation rates.

“Operating margins also recovered in the second quarter as a result of the decline in crude prices and reduced supply due to the number of scheduled turnarounds,” the company said in a statement.

The refining and chemicals business’ adjusted revenues from sales rose by 11.4% year on year to €32.2bn in the second quarter of this year, it said.

The company’s overall adjusted net income rose by 2% year on year to €2.9bn in the second quarter, with sales up by 9% to €49.1bn, the company said.

For the first six months of this year, Total’s adjusted net income rose by 1% year on year to €5.93bn, with sales up by 10% at €100.3bn, it added.

($1 = €0.82)

By: Nurluqman Suratman

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