French integrated oil and natural gas giant Total S.A. saw its net income and revenue increase in the fourth quarter of 2018 with production reaching a record high level, according to the firm's financial statement released Thursday.
The company's net income rose to approximately $3.2 billion in the October-December period of last year, from some $2.9 billion for the same period of 2017, marking a 10.3 percent rise. Revenue increased 11.8 percent during that period, from $41.4 billion to $46.3 billion.
The firm's hydrocarbon production reached a record level of 2.8 million barrels of oil equivalent per day (boepd) in 2018, from the year before, Chairman and CEO Patrick Pouyanne said in the statement. In 2017, the company's total hydrocarbon production was 2.57 million boepd, according to that year's financial statement. This represents an 8.9 percent increase in hydrocarbon production year over year.
For the full year of 2018, net income was $13.6 billion -- a 28.3 percent jump from the year before when it was $10.6 billion. Total S.A. had revenue of $184.1 billion for the entire 2018, from $149.1 billion for the full year of 2017, posting a 23.5 percent increase.
