Europe’s number three oil producer ,Total SA stated that its third-quarter profit saw a rise of thirty two per cent as the form produced more taking up new fields in Europe, America and Africa

The company saw a profit excluding the company’s value of stakes in Sanofi-Aventis SA and changes in its inventories, in the tune of two decimal four eight billion euros from the amount of one decimal eight seven million euros of the previous year. The Paris based firm reported this in a statement made today. 

The company had surpassed the prediction of seventeen analysts survey done by Bloomberg which was in the tune of two decimal four three billion euro. The company saw a rise of forty seven prevent in its net income and touched the amount of two decimal eight three billion euros. 

In the third quarter the company has raised its production by four decimal three percent to reach two decimal three four million barrels from the corresponding time of the year earlier. The production of new oilfields increased the total output by three decimal five percent. 

The company’s production is at par with the expectations of analysts as stated by the Paris based Bertrand Hodee, an analyst at Kepler Capital Markets. He further stated that the results didn’t come as a surprise and they were excellent.  

Total succeeded in turning around from its low production that touched a nine-year low in the past year. The firm acquired oil fields in places like the Gulf of Mexico, Angola, Norway and Nigeria. It also started its liquefied gas projects in places like Yemen and Qatar. 

The French company foretells that its production will remain same in the next year but promised to explore other regions for increasing its output.