Business

Wednesday November 4, 2009

Total said Wed net income more than halved in 3rd quarter


PARIS: Total SA says its net income fell by over half in the third quarter as oil prices sank from record highs a year earlier.

France's largest company by market capitalization reported net income of euro1.9 billion ($2.8 billion) in the July-September quarter, compared to euro4.1 billion a year earlier when the price of a barrel of oil spiked to nearly $150.

In a statement Wednesday, Total also said it had pumped more oil in the third quarter than the previous quarter, the first time its output had increased on a quarterly basis in a year. - AP


Latest business news from AP-Wire

  • E-mail this story
  • Print this story