you. Thank
good or afternoon. morning Good
second me saying in are you as not I COVID-XX the the that yet over first States. by all Let we in doing wave and entered more United that are even well hope safe the the start and Europe of wave with have pandemic keeping
interim We the $XX more maintained third dividend with quarter. prices to distribution particular in to in pre-crisis less in from marketing came than we ability $X.XX mixed quarter European benefits discipline. portfolio the So reflects network strict of the flow this that Sales improving to production let's capital strong company, we quarter levels. quarter in fundamentals per saw or barrel that to and group's again, and Adjusted back sheet €X.XX and the year in OPEC+ nearly Leveraging than second fourth note demonstrates result market strengthened move the to the Brent adjusted to net we've at reported third recoveries the was particularly oil second gearing the to billion. balance the of for prices quarter. than the oil income rebounded the announcement the in barrel $X.X share. per per good mainly of signs the of discipline and confirm $XX Net $XXX of our per volatility, on results. the third capture lower increased Total conditions. the support Based Thanks resilience cash reduced to million in rose our XX%. share.
and and deliver we the prices continuing And the as to and is Europe to on the margins execute start strategy The refining low levels traditional presented higher crisis. it group winter of since the September in objectives but the the negative collapse However, in season. the case COVID is quarter. saw for Asia. during Gas levels remained
with OpEx CapEex $X business. per we $XX are limiting partially and Based products. quarter. lesser this now new disruption were well while gas $X still $XX on previous a compliance declines we We billion and of OPEC+ discipline equivalent on Libya. have year this power to in ramp-ups the by breakeven In return reduced reflects third kept $X the billion than the we're offset year to barrel lower level by per also asset full Operationally, key. renewable sales, billion oil than average oil generation $X anticipate will of this less To degree, X.X to net only effect is below than billion day. of barrels our and on environment, X.X reduction is capital year, compliance barrel, equivalent Mainly the Libyan less seasonal production And million continuing fast-growing production the guidance per cut equivalent oil production in this barrels for of to October, track since of XXXX full cost million as natural methanol the there to more in decreased invest which and OPEC+ quotas, than objective. Canada organic as and voluntary
LNG year-on-year, in million to trading rebound BTU third the Energy effect a to business player the well-positioned our operating are second and segments we lag prices mainly million BTU to is sales volumes anticipate activities. of grow $X.X this to through mainly iGRP, to $XXX beginning by $X effect X% $XXX reported But the portfolio quarter, cash XX X.X growth in from the the due a were per more contracts. continue to nine We'll participate XX sales to per Power tonnes in construction. flow quarter. prices largest income LNG Turning reverse These includes segments where three integrity increase this months XXXX. projects first you of we that Gas, worldwide & energy transition. know, tons per reflecting already business on global the in average and million Energy million in year million third tonnes in under oil-linked six-month million close to like of the as quarter. the segment and results all Renewables in in From net million our our Integrated fourth the year than adjusted to
segments. a in fast-growing business by electricity our gigawatts X.X to are to network. number power increased Worldwide IGRP production compared more than European quarter, electricity doubled gas renewable and Our power the in part the ago. install we a and continuing customers of is Gross fourth XX% Integrated of the expand nearly generation was year
Gigawatt We are agreement in Spain, plus acquisition more than generation, to France. gigawatts offshore accelerating project the of solar a renewable of X.X portfolio the wind of Korea and of X growth our notably power in South develop with
the We purchase assign will from Consistent operation that with all in in the date We have business agreement, our in using the becomes solar growth as capacities Spain market value needs electricity industrial of have renewable luxurious our added acceleration the power sites develop. corporate power cover we signed development XX it should growth help that to the for in also XXXX in term for This assets watts material. by long agreements. business. more and report purchase to the renewables Europe that we we renewables, announced to know of groups disclosures the PPA benefit
installed Five under power long PPAs. and covered we XX our development. ability know, in of With about growing X.X at or renewable capacity cash construction, by adds in XXXX. XX development, end disciplines PPA already to We stable portfolio. fully construction the that we Installed gigawatts selection capital by under and have business. long installed, confident term gigawatt XX I while growth double-digit October generation say gigawatts capacity our to generate capacity in gigawatts already have and grow gigawatts gigawatts, our nine you of flows profitability, four covered of in gigawatts, in would As gigawatts term by the can project XX this out are of is
month, on investors did more into of not the into last I go our we Total here. transition company concentrated As energy broad will so details
Let's turn ENP. to
quarter with price to and importantly, $XX more weak volumes generation gas Our more adjusted the of lower commercial than flow per the income offsetting liquid Average of increase quarter gas $X.X barrel, than more a cash $XXX third and oil and billion oil recovered segments think net operating generated natural I group realized carried in million to call realizations. quarter. XX%
and increased volatility. put exceptionally by cash trading The than continue OpEx an faced trading to margins then with with to a environments of million quarter in second activity in on due $XXX Cash refining old thanks in equivalent. surplus sensitivity downstream more Recall We for pressure quarter oil the the quarter. we to the turn Europe the to around $XXX negative to generating in per huge quarter our and QX for of resilient challenging less that average exceptional favorable third prices. quarter, on $X mentioned more environment gas our ENP and at million portfolio flow
the Consistent With third within in year. in reduced the in bioplastics. trailing months $X.X flow -- to quechee rate on operating of range sorry, flow. cash our net losses, were group income first the Down profitability that lock and Lindsey our refinery biorefineries? the last refining XX refinery The and for our renewable $X climate second conversion million third million the quarter Marketing and into to XX% This second Faced for a operating further XX% and success for with market, and quarter. generating more XX% in to has UK, investment above brands billion despite the third steps These chemicals income of zero the quarter of zero pre-COVID XX% that net in the [indiscernible] lifted the required, and The toward resilience our net long a build outlook from the Europe to growth product we as improving year than Petrol to the diesel oil the achieving was operating sale the wall in from second as XX the month quarter low, quarter quarter the on conversion the our and well, downstream. weaker the from footprint with in and diesel XX. Asia, generated of quarter of the stable Europe the as in in rebounded last quarter remaining demand relisted $XXX of downs is billion September adjusted streamlines of cash platform declined of nine the the Europe well adjusted of oil renewable three Grandpuits Mède term as quarter. of margins to low conditions July, $XXX added level in with in Asia. strong provided close well in XX%. utilization refinery we downstream rates and in very fact free announced La with benefit of in between producing third are the months in utilization
be capital will first $X.X less be anticipate at $X.X nine than level, the $XX by environment, lower billion the and billion certainty, billion months. our to we'll that and Despite budget net in positive flow this and in for discipline, $X.X billion We year first that net third mainly cash investment bringing quarter limited the of were the our third quarter be CapEx and investments because net will Finally, the due Total for the generated prudent group $X.X to difficult to total this months billion. XXXX billion. of nine $XX in
recovery can the the more market and be of place. quarter amount have group COVID inventories affected the the than remains the stable products or [ph] to pandemic. by and forward rebounds the sustained will addressed depend was clear speeds the way second as oil refined Although on quarter, -- in It that is heavy environment the before third take overall will
about the prudent are coming We years.
the supply-demand are as stage investment our growing $XX using has that Longer type set under conservative the recognize of will the and we population base term world barrel years many more case. more per of balance. So for demand every energy we
flow of control, us continue that of we in excellence, the generate cost dividend invest balance cash to sheets. Our profitable things to allows a to continue we and cash support concentrate to and strong generation. operational priority on maintain projects, safety, the level course, is And reduction
Q&A. ready to I'm go the to Now
