TotalEnergies profit hits record on high oil prices
Net profit reached US$8.3 billion in the period from July to September, up from US$5.4 billion in the preceding three months.
French oil and gas company TotalEnergies reported a record net profit of US$8.3 billion for the third quarter, driven by surging oil and gas prices in a high-price environment. The company's profit increased from US$5.4 billion in the previous quarter. CEO Patrick Pouyanne noted that TotalEnergies is maximizing its integrated business model and geographic diversification, capitalizing on historic refining margins and a robust gas market.
The strong performance was attributed to all business segments, allowing the company to benefit from higher market prices. In response to the impressive earnings, the board announced a higher dividend of €0.90 per share for shareholders, marking a 5.9% increase from 2025. Additionally, TotalEnergies will conduct a capital increase exclusively for employees, offering them a 20% discount on the share price.
The company also plans to execute share buybacks totaling US$2.5 billion in the fourth quarter and the first quarter of 2027.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
