Brief: Total Gabon Swings To Net Loss Of $87 Mln In 2020

TotalEnergies EP Gabon

24/03/2021 17:18

March 24 (Reuters) - Total Gabon SA  EGAB.PA :
    * 2020 FINANCIAL RESULTS
    * IN 2020 BRENT AVERAGED $41.8 PER BARREL ($/B), DOWN 35%
FROM
64.2 $/B IN 2019
    * IN 2020 TOTAL GABON’S EQUITY SHARE OF OIL PRODUCTION
AVERAGED
25.6 THOUSAND BARRELS OF OIL PER DAY, COMPARED TO 31.2 THOUSAND
BARREL PER DAY IN 2019
    * FY NET INCOME AMOUNTED TO $(87) MILLION DOWN COMPARED TO
$50
MILLION IN 2019
    * BOARD TO RECOMMEND DIVIDEND OF $4.5 PER SHARE FOR A TOTAL
PAYOUT
OF $20.3 MILLION FOR ALL SHAREHOLDERS
    * GIVEN THE CHANGES IN PRICES AND VOLUMES SOLD, REVENUES
AMOUNTED
TO $435 MILLION IN 2020, DOWN 46% COMPARED TO PREVIOUS YEAR
    * AS OF TODAY, DISCUSSIONS BETWEEN STAKEHOLDERS ARE ON-GOING
FOR
THE DISPOSAL PROJECT ANNOUNCED ON JULY 30, 2020. THE TRANSACTION
REMAINS SUBJECT TO THE APPROVAL OF THE GABONESE AUTHORITIES
    * CAPITAL EXPENDITURE AMOUNTED TO $60 MILLION IN 2020, DOWN
53%
COMPARED TO 2019, IN ACCORDANCE WITH THE SAVINGS PLAN ANNOUNCED
IN APRIL 2020

Source text: click here https://www.total.ga/sites/g/files/wompnd981/f/atoms/files/cp_en_tg_2020.pdf
Further company coverage:  EGAB.PA 

 (Gdansk Newsroom)
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