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French Oil Giant Surrenders to Falling Prices

Stock quotes in this article: TOT , XOM , COP  

How do you say, "another oil giant is hit by the steep decline in oil prices" in French? We have no idea. We do know this: Total(TOT Quote), the largest French oil company, today posted a 36% decline in the first quarter.

The news comes after Exxon Mobil(XOM Quote) reported a 58% nosedive in first quarter earnings last week, its lowest level in over five years.ConocoPhillips (COP Quote) was also down 80%, while Europe's BP and Royal Dutch Shell both declined 62%.

Total said it earned 2.29 billion euro from 3.6 billion euro in the year-ago period. Its sales fell 32% to 30 billion euro. ...

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