Paris, France-based Total last Wednesday reported fourth quarter profit of $2.18 (1.60) billion, down 28 per cent from $3.04 billion a year earlier. Adjusted net profit for the quarter fell to $3.38 (2.47) billion, down 15 percent, as the company was hit by shrinking refining margins and delays at key oil fields such as Kazakhstan's Kashagan. Net income for the full year was $11.2 (8.4) billion. Adjusted full year income was $14.3 billion, a slight decrease from the previous year. Total's revenue in the reported quarter was $64.99 (47.75) billion, up 1% from $64.66 billion in the year-ago quarter. In 2013, total revenue of $251.73 (189.54) billion was down 2% from $257.03 billion in 2012. The company said production reached 2.284 million barrels a day in 2013, down 0.5 percent from a year ago.
Suncor Energy recorded fourth quarter 2013 operating earnings of C$973 (US$886) compared to C$988 million for the fourth quarter of 2012. Net earnings were C$443 million for the fourth quarter of 2013, compared with a net loss of C$574 million for the fourth quarter of 2012. The 2012 quarters results included a C$1.49 billion one-time charge related to its canceled Voyageur oil project in Alberta.
