TOT TOTAL SE

   By Nathan Allen 
 

Total SA (FP.FR) on Thursday confirmed its production targets and said that net profit fell in the second quarter due largely to lower prices for Brent crude and natural gas.

The French oil major said net profit in the period fell to $2.76 billion from $3.72 billion. Adjusted net income fell 19% to $2.89 billion, the company said.

Meanwhile, production ticked up 9% to 2.96 million barrels a day thanks to the startup of some major projects in Russia, Angola and Nigeria.

Total confirmed its target for 2019 production growth to exceed 9% but warned that the market environment remains volatile, with uncertainty over the outlook for global hydrocarbon demand.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

July 25, 2019 02:31 ET (06:31 GMT)

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