{"id":14892,"date":"2025-07-24T08:53:02","date_gmt":"2025-07-24T08:53:02","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=14892"},"modified":"2025-07-24T08:53:02","modified_gmt":"2025-07-24T08:53:02","slug":"totalenergies-quarterly-profit-drops-23-on-lower-oil-and-gas-prices","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/14892\/","title":{"rendered":"TotalEnergies’ quarterly profit drops 23% on lower oil and gas prices"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0TotalEnergies reported a 23% fall in second-quarter earnings on Thursday, the French oil major’s worst performance in four years but in line with expectations, as lower oil and gas prices outweighed a rise in production and power sales.<\/p>\n

Adjusted net income fell to $3.6 billion for the three months to June 30, down from $4.7 billion a year earlier and $4.2 billion in the first quarter.<\/div>\n

Shares were down 1.4% to 52.59 euros at 0715 GMT.<\/p>\n

Brent crude prices have fallen 20% from a year ago as OPEC+ producers – members of the Organization of the Petroleum Exporting Countries and allies such as Russia – started to unwind output cuts of 2.17 million barrels per day in April.<\/p>\n

Norway’s Equinor on Wednesday reported a 13% drop in second-quarter profit, hit by lower oil prices.<\/div>\n

TotalEnergies’ net debt leapt 89% year-on-year to $25.9 billion, pushing gearing – a measure of debt to equity – to 22.6% including leases, as the company made $2 billion of acquisitions and spent heavily on projects – even as it extended a $2 billion share buyback into the third quarter.<\/p>\n

“We do not expect investors to reward buybacks that are paid out of balance sheets indefinitely,” RBC analyst Biraj Borkhataria said in an investor note.<\/p>\n

Refining and chemicals earnings fell 39% from a year ago, the company said.<\/p>\n

TotalEnergies’ margin for refining crude into fuels dropped 21% from a year ago to $35.3 per ton, despite a slow recovery in the first half of 2025 from a collapse last year due to sagging demand and an increase in global competition.<\/div>\n

The company said it expected refining margins to rise above $50 per ton in the third quarter due to increased fuel demand during Europe’s summer driving season.<\/p>\n

Profit from its integrated liquefied natural gas unit was down 9.6% year-on-year and 20% lower than the first quarter of 2025, as lower prices and less volatility meant traders could not profit from price changes.<\/p>\n

The integrated power unit beat forecasts, however, with a 14% rise in profit to $574 million.<\/p>\n

TotalEnergies also forecast a 3% increase in hydrocarbon output in the third quarter against the same period a year ago.<\/p>\n

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