INQUIRER.net: France’s Total reports strong profits in 2012

INQUIRER.net Philippine News for Filipinos

France's Total reports strong profits in 2012 Feb 13th 2013, 23:45 PARIS—French oil giant Total reported on Wednesday an 8.0-percent rise in net profit to 12.4 billion euros ($16.7 billion) in 2012, excluding the change in value of oil in stock.   This is the measure, known as the current-cost accounting basis, which is most closely watched in the oil sector.   Net profit on an overall basis, the historic-cost method, fell by 13.0 percent to 10.7 billion euros.   The statement said that a fall in production had been counter-balanced by high oil prices and a temporary rally of margins for refiners in Europe.   The results were in line with forecasts by analysts who had expected a net profit on a current-c... Keep on reading: France’s Total reports strong profits in 2012 Media files: christophe-de-margerie-total-earnings.jpg (image/jpeg)

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