madebe wrote:TOTAL - PROFIT 1,424,088,000 Turnover 170.7 Billion
KENOL -PROFIT 1,091,284,000 Turnover 91.3 Bollion
Total does OTS cargoes. High volume, low margin. Not a bad business if you can source cheap financing.
KK did very few OTS cargoes in 2014 as it tried to reduce debt.
KK ditched the low-margin businesses (e.g. aviation fuel) in 2014. The volumes and turnover has dropped vs 2013.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett