Total Q2 Profit Declines 4%, Production Up 12% - Quick Facts

(RTTNews) - French oil and gas giant Total SA (TTA.L, TTFNF.PK, TOT) reported that second-quarter net income group share decreased 4 percent to $2.97 billion from $3.10 billion in the prior-year quarter. Earnings per share also declined $1.29 from last year's $1.36.

Excluding items, adjusted net income for the quarter was $3.09 billion or $1.34 per share, compared to $3.15 billion or $1.38 per share in the year-ago quarter.

Sales for the quarter decreased 29 percent to $44.72 billion from $62.56 billion in the previous year.

Hydrocarbon production was 2,229 kboe per day, up 12 percent from 2,054 kboe per day last year.

The board of directors also decided to pay a second-quarter interim dividend of 0.61 euro per share on January 14, 2016.

Looking ahead, the group expects to exceed its 2015 objective to cut operating costs by $1.2 billion in 2015, and confirmed the announced reduction of 2015 Capex to $23 billion to $24 billion.