BAKU, Azerbaijan, Oct.30
By Leman Zeynalova – Trend:
Hydrocarbon production of French Total company was 2,715 thousand barrels of oil equivalent per day (kboe/d) in the third quarter 2020, a decrease of 11 percent year-on-year, Trend reports citing the company.
The 7 percent decrease was due to compliance with OPEC+ quotas, notably in Nigeria, the United Arab Emirates, Angola, Kazakhstan and Iraq, as well as voluntary reductions in Canada and disruptions in Libya.
One percent decline was due to portfolio effect, notably linked to the sale of Block CA1 in Brunei and the sale of assets in the United Kingdom.
This is while 3 percent increase was due to the start-up and ramp-up of new projects, notably Culzean in the United Kingdom, Johan Sverdrup in Norway, Iara in Brazil and Tempa Rossa in Italy. Three percent decrease was due to natural decline of fields and maintenance each.
As for the quarter-on-quarter results, hydrocarbon production was 2,715 thousand barrels of oil equivalent per day (kboe/d) in the third quarter 2020, a decrease of 5 percent compared to the previous quarter, comprised of:
-3 percent due to reinforcement OPEC+ quotas, notably in Nigeria.
-1 percent due to portfolio effect, notably linked to the sale of assets in the United Kingdom.
+1 percent due to the ramp-up of recently started projects, notably Ichthys in Australia, Tempa Rossa in Italy and Iara in Brazil.
-2 percent due to the natural decline of fields and maintenance.
Gross installed renewable power generation capacity was 5.1 GW end of third quarter, a strong 85 percent increase year-on-year, notably thanks to the acquisition in India of 50 percent of a portfolio of more than 2 GW from the Adani Group.
Net electricity production was 4.1 TWh in the third quarter, up 41 percent year-on-year, notably due to higher demand on the Group’s CCGTs and the doubling of renewable electricity production.
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