The integrated model, "investment discipline" and advances in efficiency, alongside stronger production, were attributed for the rise of adjusted net operating income of Total SA in exploration and production by 84% on an annual scale in the third quarter, to $1.44 billion. The results published on Friday revealed earnings excluding certain items rose to $1.04 from $0.84 per share, on adjusted net income of $2.67 billion, compared to $2.07 billion one year before.
Moreover, the group's profit rallied 39% to come in at $2.72 billion. Investments were lowered by 25% from the same quarter of 2016, to $3.91 billion, while asset sales were boosted by 181% to $539 million. Operating cash flow was lifted 14% to $5.16 billion.
Total output grew 6% to 2.58 million barrels of oil equivalent per day, led by gains in the Middle East and North Africa. The ratio of net debt and equity was driven 2.3 percentage points lower from the quarter to June, and a whopping 12.6 points down year over year, to 18%.
