Tencent Securities News reported on the evening of July 27, Beijing time. According to Bloomberg, Total “can launch profitable projects and obtain resources on attractive terms, thereby making flexible use of the low-cost environment,” CEO Patrick Pouyanne said in the announcement.

In terms of exploration and development, operating cash flow in the second quarter of 2017, excluding changes in working capital, increased nearly 50% year over year.

Production increased 3% to 2.5 million b/d, driven by increased startups and cash value-added projects, as well as cost reduction plans.

Adjusted net operating income for the second quarter:

The upstream business increased to 1.36 billion US dollars from 1.04 billion US dollars in the same period last year.

natural gas,renewablesAnd electricity revenue more than doubled to $95 million.

The refining and chemical business fell 15% to $861 million; the company said profit margins performed well at the beginning of the third quarter.

Revenue from the marketing and services business was $433 million, up 3%.

The company maintained its target of reducing costs by 3.5 billion US dollars this year compared to 2014, up from 2.8 billion US dollars in 2016; it also maintained the 2017 endogenous capital expenditure target.

The company reiterated that oil and gas production will increase by more than 4% in 2017.