Arab Today, arab today total plans drastic cuts in investment after 2014 results
Last Updated : GMT 06:11:27
Arab Today, arab today
Arab Today, arab today

Total plans drastic cuts in investment after 2014 results

Arab Today, arab today

Arab Today, arab today Total plans drastic cuts in investment after 2014 results

French oil giant Total
Paris - AFP

French oil giant Total on Thursday announced drastic cuts after its net profit plunged in 2014 due to a dramatic fall in crude prices.
Total reported a 62 percent fall in net profit to $4.24 billion last year compared with a year earlier, while revenue dropped 6.0 percent to $236.12 billion, the group said in a statement.
The market-watched net adjusted profit, which excludes volatile elements, fell 10 percent to $12.84 billion, after "oil prices fell dramatically in the second half of 2014, ending the year at $55 per barrel," the statement said.
The group had a $7.1 billion writedown in its oil sands in Canada and shale oil operations in the United States, which will now undergo a restructuring.
With weaker oil demand and prices, Total plans to cut its investments by more than 10 percent, including in its North Sea and West Africa operations, and to reduce its workforce by 2,000 people mainly through a hiring freeze.
The group still plans to increase production this year to just over 2.3 million barrels per day compared with 2.15 million bpd in 2014.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today total plans drastic cuts in investment after 2014 results Arab Today, arab today total plans drastic cuts in investment after 2014 results

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today total plans drastic cuts in investment after 2014 results Arab Today, arab today total plans drastic cuts in investment after 2014 results

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday