Total Posts Q2 Financial Reports

Total has reported second quarter adjusted net income of E1.7 billion, a decrease of 54 % for the second quarter of 2009, compared to the previous year. The company posted a EPS of E0.77 per share a decline of 53%, compared to previous year. For the six month ended period, the company has posted adjusted net income of E3.8 billion, a decline of 45%, compared to previous year.

The group has reported a net income of E2.1 billion, compared to E4.7 billion for the second quarter of 2008, a decline of 54%. For the six month ended period, 2009, the company posted E4.4 billion in comparison to E8.3 billion for the previous year, a decline of 46%.

Christophe de Margerie, CEO of Total, said: “In the second quarter, the price of Brent rose by 33% compared to the first quarter, lifted by the anticipation of an economic recovery and by OPEC maintaining its production discipline. However, weak demand caused natural gas prices and refining margins to fall sharply. The environment for chemicals stabilized after recent quarters that were affected by low demand. The dollar averaged 1.36 $/E in the quarter.

Over the remaining months of the year, we expect to benefit from the ramp-up of these new fields and the start-up of Yemen LNG, Qatargas II train B and Tombua Landana in Angola. Exploration success during the quarter, acquisition of new permits and the partnerships with Cobalt in the Gulf of Mexico and Novatek in Russia all combine to strengthen the potential of the group.

The recent industrial accidents regrettably confirm that the group must maintain its efforts for vigilance and improvement of safety at the highest levels. In the framework of its policy for investment, training and management, Total will continue to give priority to the safety of its personnel and the protection of the environment.”