EnergyWatch

Earnings skyrocket at Total

French oil major Total is enjoying the impact of recent years of cost reductions as well as a stabilized oil price. The profit grew 29 percent.

In this year's third quarter, France's Total cashed in on recent years of cost reduction efforts and divestments of oil and gas fields with excessive extraction costs.

The future owner of Maersk Oil announced its third quarterly result today, which rose 29 percent in relation to the same quarter last year. The group's adjusted net result now comes to EUR 2.67 billion for the third quarter.

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