Weakened Total cuts down and presents large-scale climate goal
The oil major, like most others atop the global oil hierarchy, reports a considerable setback. The French company lost 35 percent in its adjusted net result for the year's first three months. Moreover, the firm cuts investments further to tackle the ongoing oil crisis but presents a long-term goal to be climate-neutral.
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Looking at the Total group's net earnings for the first quarter by themselves, there is no doubt: The oil crisis takes a heavy toll on the French oil and gas giant.
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