ReportedShipping, energy & marketsFrance / global energy markets
TotalEnergies reports $9.1 billion quarterly profit amid high refining margins
- Mountain Time
- Local time
- 12:30 PM in Paris
- Where
- France / global energy markets
TotalEnergies reported third-quarter adjusted net income of $9.1 billion, up 127% from a year earlier and above analysts' average forecast of $8.3 billion. The company cited historically high refining margins, higher oil and gas prices, and strong oil and LNG trading. Quarterly cash flow reached $12.3 billion.
Why it matters
The results quantify how crisis-driven fuel and LNG prices are increasing producer cash flows, with earnings exceeding market expectations.
Source
- OilPrice.comoilprice.comPublished
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