Oil and gas production is a record, Doddle’s net profit last year increased by nearly 30% year on year.

Thanks to production growth and other factors, Total, an international oil and gas giant, achieved a good performance last year.

Recently, Daudal released its fourth quarter and full-year report of 2018, with adjusted net profit of $13.6 billion in 2018, an increase of 28% over the previous year, and a return on equity of nearly 12%.

In the first quarter of 2018, Total achieved a net profit of $2.9 billion, up 13% from a year earlier; in the second quarter, it achieved a net profit of $3.72 billion, nearly doubling from a year earlier; in the third quarter, it achieved a six-year maximum single-quarter profit of $4 billion, up 48% from a year earlier; in the fourth quarter, it achieved a net profit of $3.164 billion, up 10% from a year earlier.

Patrick Pouyannlei, chairman of the company, said that the company’s strong performance was mainly driven by production growth. In 2018, the company’s oil and gas production reached a record 2.8 million barrels of oil equivalent per day, an increase of more than 8% year on year.

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In 2018, the net profit of the exploration and production sector of Daudal increased significantly, reaching 10.21 billion US dollars, up 71% year-on-year; the natural gas and renewable power sector increased 56% year-on-year, reaching 756 million US dollars.

Net profit of refinery and chemical industry, marketing and service sectors declined. Among them, the net profit of refinery and chemical sectors was $3.379 billion, down 11% from the same period last year; the net profit of marketing and service sectors was $1.652 billion, down 1% from the same period last year.

In 2018, Daudal made progress in the Ichthys LNG project in Australia, Yamal LNG project in Russia, Kaombo North project in Angola and Egina deep-sea oil field project in Nigeria. In addition to the counter-cyclical acquisition of Maersk Oil, it also acquired new offshore oil rights in the United Arab Emirates.

Mr. Pan said that Dodall had completed its stock repurchase plan of $1.5 billion in 2018, and that its mid-term dividend would be increased by 3.1% to 0.66 per share in 2019. Under the environment of oil price of $6 billion per barrel, it would continue to buy back $1.5 billion of shares.

In 2018, Total’s net investment amounted to 15.6 billion US dollars, and its cost reduction was about 4.2 billion US dollars. By the end of 2018, its asset-liability ratio was 15.5%.

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The international crude oil market remained volatile last year, but oil prices rose from an average of $54 per barrel in 2017 to $71 per barrel, an increase of 41.48%.

Thanks to the rise in oil prices, several major international oil giants achieved profit growth in 2018.

Among them, BP’s net profit increased 177 times year-on-year to $9.383 billion, Shell’s reached $21.4 billion, up 36% year-on-year, and Exxon Mobil’s net profit was $20.89 billion, up about 6% year-on-year.

Total, FINA and ELF are global integrated energy producers and suppliers, headquartered in Paris, France. They are the largest oil and gas producers in Africa and the Middle East, ranking fourth in Europe, Southeast Asia and Latin America.

At present, Daudal has 28 refineries, 13 of which are wholly owned, and operates lubricating oil operations in more than 110 countries.

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