Oil giant Total's profits up 35%

Total operates several petrol station networks worldwide

French oil group Total has reported a third quarter profit rise of 35% despite a 5% fall in production.

Adjusted net profit for the quarter reached 4.07bn euros (£3.3bn) against 3bn euros in the same period in 2007.

The Paris-based firm said its results benefited from high oil prices during the quarter and good refining margins.

The price of oil reached a record high of $147 a barrel in July this year, but prices have since fallen back to below $70 a barrel.

Total said production in the third quarter fell 5%, following technical problems in Libya and in the North Sea, and security concerns in Nigeria.

The company added that its profit margins for refining in Europe rose by 88% as refineries in the Gulf of Mexico were temporarily closed because of hurricanes.

Total said its planned $19bn investment programme was on track, with output expected from five new projects in 2009.

In 2006, Total reported a record annual profit for a French company - 12.58bn euros.