Energy Company Total Profit Slips in 2nd Quarter

July 29, 2015 7:26 AM

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PARIS — French energy giant Total SA says its net profit slid 4 percent in the second quarter as higher production helped offset a steep drop in the price of oil.

Total on Wednesday reported a net profit of $2.97 billion, down from $3.1 billion a year earlier. Underlying replacement cost profit, which strips out one-time items and changes in the value of inventories, fell 2 percent to $3.1 billion in the quarter.

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