Total’s upstream oil and gas business propels Q1 recovery
Total on April 29 reported a strong first-quarter recovery in its upstream oil and gas business, with higher prices leading to almost triple the level of adjusted operating profit in the segment compared to a year ago, but also noted continued market volatility and “very poor” refining margins.
Total also reported record-high adjusted operating profit from its ‘integrated gas renewables & power’ division, which includes its LNG business. The company’s LNG sales were stable compared with a year ago at 9.9 million mt, but the company said it had more than doubled its installed renewable power generation capacity in the last year from 3 GW to 7.8 GW, and the division as a whole generated 8% more in adjusted operating profit.
Provided by Dow Jones > Production 1Q21 1Q21 vs vs 1Q21 4Q20 1Q20 1Q20 1Q19 1Q19
Hydrocarbon production (kboe/d) 2,863 2,841 3,086 -7% 2,946 -3%
Oil (including bitumen) (kb/d) 1,272 1,238 1,448 -12% 1,425 -11%
Gas (including condensates and associated NGL) (kboe/d) 1,591 1,603 1,638 -3% 1,521 +5%
Hydrocarbon production (kboe/d) 2,863 2,841 3,086 -7% 2,946 -3%
Liquids (kb/d) 1,508 1,483 1,699 -11% 1,629 -7%
Gas (Mcf/d) 7,400 7,406 7,560 -2% 7,167 +3% Group production = E&P production + iGRP production Hydrocarbon production was 2,863 thousand barrels of oil equivalent per day (kboe/d) in the first quarter 2021, a decrease of 7%
Total on April 29 reported a strong first quarter recovery in its upstream oil and gas business, with higher prices leading to almost triple the level of adjusted operating profit in the segment compa
The impacts from the COVID-19 virus spread and stricter quarantine measures enforced by some countries continued to have a destabilizing effect on global economic activities, resulting in maintaining restricted production targets by the OPEC+ participants during the first quarter. These restrictions as well as an increase in hydrocarbons consumption due to the severe cold winter weather in Europe, Asia and North America has led to a significant increase in benchmark hydrocarbons prices in the first quarter 2021, which correspondingly impacted our hydrocarbons sales prices. Further developments surrounding the COVID-19 virus spread remain uncertain and are outside of the Group s management control, and the scale and duration of these developments are difficult to assess. Despite these uncertainties, the Group continues to demonstrate strong operating results and implement its investment projects in accordance with the Group s approved corporate strateg
PHOTO: PERSONAL ARCHIVE
She has become famous for her “Crystal Swan” movie.
Darya Zhuk from Belarus is to direct the new Netflix project. She will make a show about the 90s on the order from this streaming service, Kommersant reports.
This is the first time Netflix orders a show to be filmed in Russia. Previously, it just bought rights for the ready works.
At the moment, four or five projects with Russian producers are being discussed. One of them is a dramatic story happening in the 1990s, by the script of
Mikhail Spritz.
He tried to promote his script at the Russian video platforms, but unsuccessfully. The show will be released by the movie company “Russkoye”. Darya Zhuk, famous for her 2018 Oscar nominee from Belarus “Crystal Swan”, will be the director.