Lower Oil Prices Dent Total's Q1 Despite Production Rise

April 28, 2015 7:27 AM

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French energy giant Total SA says its net profit slid 20 percent in the first quarter despite a rise in production as slumping oil prices took their toll.

The company says Tuesday that net profit for the quarter was $2.66 billion, down from $3.34 billion a year earlier. That fall came despite a 10 percent rise in hydrocarbon production to 2.4 million barrels a day.

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