Thu Aug 3, 2006 2:26am ET
PARIS, Aug 3 (Reuters) – French oil major Total SA (TOTF.PA: Quote, Profile, Research) reported a 16 percent rise in second-quarter net profit on Thursday, broadly in line with expectations as high oil prices compensated for a fall in production.
The world’s sixth-largest oil company by market value said adjusted net profit, which strips out gains in the value of fuel inventories and one-off items, was 3.361 billion euros ($4.30 billion) against 2.906 billion in the year-ago quarter.
Adjusted operating profit rose to 6.672 billion euros from 5.448 billion.
A Reuters poll of 12 analysts had pegged adjusted net profit at 3.441 billion euros on average and operating profit at 6.947 billion euros.
Total’s net profit rise compares with respective gains of 35 percent, 23 percent and 36 percent by bigger rivals ExxonMobil (XOM.N: Quote, Profile, Research), BP Plc. (BP.L: Quote, Profile, Research) and Shell (RDSa.L: Quote, Profile, Research).
“Oil prices have continued to rise, driven by sustained demand and persistent pressure on production capacity. Refining margins recovered, reflecting mainly the strength of gasoline demand in the U.S.,” CEO Thierry Desmarest said in a statement.
Production in the quarter, however, declined 9 percent to 2.29 million barrels of oil equivalent a day, echoing the trend across the majors, except for Italy’s Eni (ENI.MI: Quote, Profile, Research).
Total shares closed Wednesday 0.5 percent lower at 52.40 euros, slightly trailing the DJ Stoxx oil and gas index < .SXEP>.
The stock changes hands at 9.3 times expected 2007 earnings in line with rival Eni.
© Reuters 2006. All Rights Reserved.
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
