Total’s profit, LNG sales rise
French energy giant and LNG player Total reported a rise of 28 percent to $10.6 billion in its adjusted net income during the last year, boosted by higher oil and gas prices and an increase in production.
For the fourth quarter, Total’s adjusted net income stood at $2.9 billion rising 19 percent on year-on-year, the company said on Thursday.
Total’s liquefied natural gas sales during the year in review rose 2 percent to 11.23 million tons.
Quarterly LNG sales dropped 3 percent to 2.67 million tons, it said.
Total also announced plans to reward shareholders with dividend increases and a share buyback as well as some $2 billion of acquisitions in 2018.
The company rewarded shareholders with a 10 percent rise in dividends over the next three-year period.
This year’s interim dividend will increase 3.2 percent, and the company plans to buy back up to $5 billion shares over the 2018-2020 period.