TotalEnergies net profit drops as oil prices fall / Photo: © AFP/File
-
How Mystery Bounty Poker Tournaments Spread from Curiosity to Mainstream
-
Inflation Breach and Bond Yields Spark Rate Hike Fears for December
-
Market Buzz: Meesho Stake Sale, Clean Max’s ₹50,000 Crore Investment and Corporate Updates
-
The 20 Most Shocking Documentaries Ranked: From Elizabeth Holmes to Man on Wire
-
Below Deck alumnus João Franco and brother arrested after fatal Turkey fight
-
Ole Miss inquiry expands after video and monkey-noise allegations
-
General Hospital actor Randall England dies at 75
-
Bunnie XO artwork taken down from Jelly Roll’s Nashville bar
-
London museum removes Russell Brand hair exhibit after rape conviction
-
Arlington sentinel rebukes Pete Hegseth entourage for laughter near memorial
-
Yella Beezy sentenced to life for arranging rapper Mo3’s murder
-
Late Late Show Line-Up Announced Featuring Nicola Coughlan and TJ Reid
-
Kylie Jenner employee describes closet ordeal and pepper-spray incident
-
Authorities to identify Montauk Mary and five other Long Island cold-case victims
-
Davante Adams injury deepens Los Angeles Rams receiver shortage
-
Barbie sequel negotiations stall over reported $25 million pay packages
-
João Franco’s earlier post draws attention after arrest over fatal Turkey brawl
-
Bath & Body Works launches buy-one-get-one-free candle offer
-
Nvidia Appoints Colette Kress as Interim CEO Following Jensen Huang’s Resignation
-
Calgary Chef Launches App to Connect Food Businesses with Non-Profits
-
Itlu Arjuna receives U/A certificate ahead of theatrical release
-
Palestinian Artist Masada Sabat Uses Oil Paint to Carry Homeland’s Story
-
Dhananjaya de Silva guides Sri Lanka to 221-4 against Pakistan
-
Niraj Kumar earns Los Angeles Olympic quota with 50m rifle bronze
-
Parents of Deceased Model Fight to Maintain $4 Million Judgment Against Shawne Merriman Associate
-
Delhi gold loses Rs 800 while silver falls Rs 5,000
-
India extends micro-credit guarantee plan for five years
-
Pradeep Antony, Smeha Manimegalai portray secret spouses in Mr & Mrs Office
TotalEnergies net profit drops as oil prices fall
TotalEnergies said Thursday its net profit plunged in the second quarter despite increased output as global oil and gas prices dropped.
Despite the 29 percent year-on-year drop in net profit in the second quarter to $2.7 billion, the French firm called its performance "robust".
It kept its revenue drop to 7.6 percent, to $49.6 billion, below the 10 percent fall in the price of Brent crude oil, the international benchmark.
That was thanks in part to a 2.5 percent boost in output, to an average 2.5 million barrels of oil equivalent in the second quarter.
“TotalEnergies delivered robust financial results in the second quarter," chief executive Patrick Pouyanne said in a statement.
"TotalEnergies continued to successfully execute its balanced multi-energy strategy, supported by sustained growth in hydrocarbon and electricity production," he added.
The company confirmed a second interim dividend of 0.85 euros per shares, an increase of almost 7.6 percent from last year, and up to $2 billion in share buybacks in this quarter.
R.Kloeti--VB