Energy Voice | Total’s Q3 income jumps as firm takes advantage of ‘favourable environment’

Total posted a 50% rise in net income to £3.1 billion in a third quarter that saw it announce the discovery of a major gas find west of Shetland.

The Paris-headquartered business said it had found 1 trillion cubic feet of recoverable gas at the Glendronach discovery, which will tie into its Laggan Tormore infrastructure.

The company produced 2.8 million barrels of oil equivalent per day during the three months, up 8.6% year-on-year.

The increase was partly thanks to the start up of the Edradour and Glenlivet fields in August 2017 and the addition to its portfolio of assets formerly owned by Maersk Oil.

Sales for the period totalled £42.7bn, up from £33.5bn last year.

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