France-based oil and gas giant Total ended 2017 on an impressive note: The firm raked in $10.6 billion in adjusted net income for the year, a 28% improvement over 2016. That growth was driven overwhelmingly by the company’s exploration and production arm, whose operating income nearly doubled year-over-year. And the progress may well continue in 2018—in July, Total announced it had completed a $1.5 billion acquisition of Engie’s upstream Liquefied Natural Gas unit, making Total the second-largest Liquefied Natural Gas play in the market.
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“The risks of being on the wrong side of the U.S. government are not worth the benefits."
The aerospace, energy and automotive sectors are all affected.
It's the French company’s biggest acquisition since 1999.