Published • loading... • Updated
TotalEnergies Profit Hits Record on High Oil Prices
The French oil major doubled earnings as high refining margins and stronger trading lifted cash flow to $12.3 billion, the company said.
- On Thursday, French oil and gas giant TotalEnergies reported adjusted net income of $9.1 billion for the third quarter, beating analyst expectations of $8.3 billion with cash flow reaching $12.3 billion.
- Rising refining margins and hydrocarbon prices driven by the Middle East conflict bolstered results; CEO Patrick Pouyanné said the company fully leveraged its "integrated business model and its geographic diversification."
- The company's downstream division booked a record quarter with adjusted net operating income of $4.1 billion and cash flow of $4.6 billion, up nearly $2 billion from the second quarter.
- TotalEnergies will proceed with $2.5 billion in share buybacks through first-quarter 2027 and confirmed a third interim dividend of €0.90 per share, while employees receive a 20% discount on a new capital increase.
- European energy majors posted similar exceptional results, as Shell reported $10.8 billion in adjusted earnings and Norway's Equinor tripled its net income, reflecting a broad sector trend amid record refining margins.
Insights by Ground AI
88 Articles
88 Articles
TotalEnergies announces a fall in the price of diesel oil as of Saturday, 31 October, with a litre capped at 2.15 euros in part of its network. A measure that should be gradually extended in the coming days.
·Gennevilliers, France
Read Full Article
TotalEnergies will lower its sale price of diesel to 2.15 euros per litre on Saturday in just over 700 gas stations representing 60% of its fuel sales, in connection with the government's destocking of strategic stocks
·Levallois-Perret, France
Read Full Article
In Total stations not affected by this decrease, the price of diesel fuel will remain capped at €2.25/L.
·Rennes, France
Read Full Article
Coverage Details
Total News Sources88
Leaning Left8Leaning Right9Center13Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 27%
C 43%
R 30%
Factuality
To view factuality data please Upgrade to Premium
