Latest news with #TotalEnergies'
Yahoo
6 days ago
- Business
- Yahoo
TotalEnergies' quarterly earnings drop amid market challenges
French oil giant TotalEnergies' adjusted net income fell to $3.6bn (€3.07bn) for the second quarter of 2025 (Q2 2025), down from $4.7bn in the same period last year. The decline was attributed to lower oil and gas prices, which overshadowed gains from increased production and power sales. The company's first-half adjusted net income stood at $7.8bn. Net debt surged by 89% compared to the previous year, reaching $25.9bn. This increase in debt pushed the gearing ratio, including leases, to 22.6%. Despite this, TotalEnergies continued its share buyback programme, extending a $2bn buyback into Q3. CEO Patrick Pouyanne clarified that the company's normalised gearing ratio, which measures debt to equity, stood at 15%, reported Reuters. He assured that this figure would remain stable throughout the year, bolstered by the anticipated $3.5bn in proceeds from the sale of renewable asset stakes and the disposal of mature oil and gas assets in Nigeria, Brazil and other regions. Despite a 14% rise in quarterly profit to $574m in TotalEnergies' integrated power business, this was not enough to counteract weaker performances in other divisions. The refining and chemicals segment saw earnings plummet by 39% from the previous year. The refining margin for converting crude into fuels also dropped by 21% year-on-year (YoY) to $35.3 per tonne (t), although there is an expectation that margins will improve to above $50/t in Q3 due to heightened fuel demand during Europe's summer driving season. The integrated liquefied natural gas (LNG) unit reported a 9.6% decrease in profit YoY and a 20% fall from Q1 2025. The subdued prices and lack of volatility restricted traders' ability to capitalise on price fluctuations. Looking ahead, TotalEnergies forecasts a 3% rise in hydrocarbon production in Q3 compared with the same period last year. Earlier this month, the Government of Mozambique established essential conditions for the revival of TotalEnergies' $20bn LNG project. The project, which was suspended in 2021 because of an insurgency linked to the Islamic State, is now set to resume. "TotalEnergies' quarterly earnings drop amid market challenges" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
16-07-2025
- Business
- Business Wire
TotalEnergies SE: Second Quarter 2025: Main Indicators
PARIS--(BUSINESS WIRE)--Regulatory News: The main indicators, estimated financial information and key elements impacting TotalEnergies' (Paris:TTE) (LSE:TTE) (NYSE:TTE) second quarter 2025 aggregates are shown below: Main indicators 2Q25 1Q25 4Q24 3Q24 2Q24 €/$ 1.13 1.05 1.07 1.10 1.08 Brent ($/b) 67.9 75.7 74.7 80.3 85.0 Average liquids price * (1) ($/b) 65.6 72.2 71.8 77.0 81.0 Average gas price * (1) ($/Mbtu) 5.63 6.60 6.26 5.78 5.05 Average LNG price ** (1) ($/Mbtu) 9.10 10.00 10.37 9.91 9.32 European Refining Margin Marker (ERM) *** ($/t) 35.3 29.4 25.9 15.4 44.9 * Sales in $ / Sales in volume for consolidated affiliates. ** Sales in $ / Sales in volume for consolidated and equity affiliates. *** This market indicator for European refining, calculated based on public market prices ($/t), uses a basket of crudes, petroleum product yields and variable costs representative of the European refining system of TotalEnergies. (1) Does not include oil, gas and LNG trading activities, respectively. Expand Main elements impacting the quarter aggregates Hydrocarbon production of the second quarter 2025 is expected to be at the midpoint of the quarterly guidance, around 2.5% growth compared to second quarter 2024. Exploration & Production results are expected to reflect the evolution of the environment ($7/b average liquids price decrease vs first quarter 2025), in line with published sensitivities while being supported by accretive production growth both in results and cash. Integrated LNG results are expected to reflect the evolution of the environment (average LNG selling price of $9.1/Mbtu vs $10.0/Mbtu in the first quarter of 2025, reflecting crude price evolution) and low volatility in gas trading. Integrated Power results are expected to be between $500 and 550 million, and quarterly cash flow in line with the annual guidance. Refining & Chemicals results are expected to reflect the improvement of refining margins (ERM growing to $35.3/t vs $29.4/t in the first quarter) and of the refining utilization rate. Downstream results will benefit from the positive effect of seasonality in Marketing & Services, whose results are expected to be at the same level as the second quarter 2024. Disclaimer Unless otherwise stated, the terms 'TotalEnergies', 'TotalEnergies company' and 'Company' in this document are used to designate TotalEnergies SE and the consolidated entities directly or indirectly controlled by TotalEnergies SE. Likewise, the words 'we', 'us' and 'our' may also be used to refer to these entities or their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate and independent legal entities. The data presented in this document is based on TotalEnergies' internal preliminary reporting and is not audited. This data is not intended to be a comprehensive summary of all items that will affect TotalEnergies SE's results or to provide an estimate of 2025 quarterly results. Actual results may vary. To the extent permitted by law, TotalEnergies SE disclaims all liability from the use of this data. This document may contain forward-looking statements (including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995), notably with respect to the financial condition, results of operations, business activities and strategy of TotalEnergies. This document may also contain statements regarding the perspectives, objectives, areas of improvement and goals of TotalEnergies, including with respect to climate change and carbon neutrality (net zero emissions). An ambition expresses an outcome desired by TotalEnergies, it being specified that the means to be deployed do not depend solely on TotalEnergies. These forward-looking statements may generally be identified by the use of the future or conditional tense or forward-looking words such as 'will', 'should', 'could', 'would', 'may', 'likely', 'might', 'envisions', 'intends', 'anticipates', 'believes', 'considers', 'plans', 'expects', 'thinks', 'targets', 'commits', 'aims' or similar terminology. Such forward-looking statements included in this document are based on economic data, estimates and assumptions prepared in a given economic, competitive and regulatory environment and considered to be reasonable by TotalEnergies as of the date of this document. These forward-looking statements are not historical data and should not be interpreted as assurances that the perspectives, objectives or goals announced will be achieved. They may prove to be inaccurate in the future, and may evolve or be modified with a significant difference between the actual results and those initially estimated, due to the uncertainties notably related to the economic, financial, competitive and regulatory environment, or due to the occurrence of risk factors, such as, notably, the price fluctuations in crude oil and natural gas, the evolution of the demand and price of petroleum products, the changes in production results and reserves estimates, the ability to achieve cost reductions and operating efficiencies without unduly disrupting business operations, changes in laws and regulations including those related to the environment and climate, currency fluctuations, technological innovations, meteorological conditions and events, as well as socio-demographic, economic and political developments, changes in market conditions, loss of market share and changes in consumer preferences, or pandemics such as the COVID-19 pandemic. Additionally, certain financial information is based on estimates particularly in the assessment of the recoverable value of assets and potential impairments of assets relating thereto. Readers are cautioned not to consider forward-looking statements as accurate, but as an expression of the Company's views only as of the date this document is published. TotalEnergies SE and its subsidiaries have no obligation, make no commitment and expressly disclaim any responsibility to investors or any stakeholder to update or revise, particularly as a result of new information or future events, any forward-looking information or statement, objectives or trends contained in this document. In addition, the Company has not verified and is under no obligation to verify any third-party data contained in this document or used in the estimates and assumptions or, more generally, forward-looking statements published in this document. The information on risk factors that could have a significant adverse effect on TotalEnergies' business, financial condition, including its operating income and cash flow, reputation, outlook or the value of financial instruments issued by TotalEnergies is provided in the most recent version of the Universal Registration Document which is filed by TotalEnergies SE with the French Autorité des Marchés Financiers and the annual report on Form 20-F filed with the United States Securities and Exchange Commission ('SEC'). Additionally, the developments of climate change and other environmental-or social related issues in this document are based on various frameworks and the interests of various stakeholders which are subject to evolve independently of our will. Moreover, our disclosures on such issues, including disclosures on climate change and other environmental or social-related issues, may include information that is not necessarily "material" under US securities laws for SEC reporting purposes or under applicable securities law. Financial information by business segment is reported in accordance with the internal reporting system and shows internal segment information that is used to manage and measure the performance of TotalEnergies. In addition to IFRS measures, certain alternative performance indicators are presented, such as performance indicators excluding certain adjustment items described below (adjusted operating income, adjusted net operating income, adjusted net income), return on equity (ROE), return on average capital employed (ROACE), gearing ratio, operating cash flow before working capital changes, the shareholder rate of return. These indicators are meant to facilitate the analysis of the financial performance of TotalEnergies and the comparison of income between periods. They allow investors to track the measures used internally to manage and measure the performance of TotalEnergies. The adjusted results (adjusted operating income, adjusted net operating income, adjusted net income) are defined as replacement cost results, adjusted for special items, excluding the effect of changes in fair value. For further details on the adjustment items, please refer to the last published earnings statement and notes to the consolidated financial statements. Euro amounts presented for the fully adjusted-diluted earnings per share represent dollar amounts converted at the average euro-dollar (€-$) exchange rate for the applicable period and are not the result of financial statements prepared in euros. Cautionary Note to US Investors – The SEC permits oil and gas companies, in their filings with the SEC, to separately disclose proved, probable and possible reserves that a company has determined in accordance with SEC rules. We may use certain terms in this document, such as 'potential reserves' or 'resources', that the SEC's guidelines strictly prohibit us from including in filings with the SEC. US investors are urged to consider closely the disclosure in the Form 20-F of TotalEnergies SE, File N° 1-10888, available from us at 2, place Jean Millier – Arche Nord Coupole/Regnault – 92078 Paris-La Défense Cedex, France, or at the Company website You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on the SEC's website
Time of India
16-07-2025
- Business
- Time of India
TotalEnergies flags lower oil, gas sales ahead of Q2 results
Lower prices for oil and liquefied natural gas will weigh on French oil major TotalEnergies' second-quarter earnings, even as its hydrocarbon production rose slightly, it said in a trading update on Wednesday. Total's hydrocarbon production in the second quarter of 2025 will show an increase of around 2.5 per cent year-on-year, it said. But a 20 per cent drop in the Brent crude price - from $85 per barrel a year ago to $67.9 per barrel in the second quarter of 2025 - means earnings for upstream will be lower. Crude oil prices fell in the second quarter as OPEC+, made up of the Organization of the Petroleum Exporting Countries and allies such as Russia, started to unwind self-imposed production cuts of 2.17 million barrels per day in April. TotalEnergies' shares were up 0.06 per cent at 0923 CET. Jefferies analyst Giacomo Romeo said the earnings preview was in line with consensus expectations. Last week BP flagged lower oil and gas sales, while Shell warned of lower gas trading earnings and a hit to its downstream chemicals business. Total said lower LNG prices and decreased price volatility resulted in its traders earning less than both last quarter and the second quarter of 2024. Downstream sales of refined fuels are expected to be flat compared to a year ago, when they earned $379 million. The integrated power business is expected to bring in between $500 million and $550 million, compared to $506 million a year ago. Refining and chemicals earnings are expected to reflect a slight climb in margins for refining crude over the first half of 2025, but overall Total's refining margin is still down 21 per cent compared to a year ago. The company is due to report second-quarter results on July 24.>
TimesLIVE
15-07-2025
- Business
- TimesLIVE
Mozambique paves way for restart of TotalEnergies LNG project: report
Mozambique has created the necessary conditions for the resumption of TotalEnergies' $20bn (R356.03bn) liquefied natural gas (LNG) project in the country, the country's energy minister was quoted as saying by Portuguese news agency Lusa on Monday. TotalEnergies, which halted construction in 2021 after an Islamic State-linked insurgency attack threatened its Afungi site in the north of Mozambique, has said it wants to resume development this summer. TotalEnergies' CEO Patrick Pouyanne met with Mozambique President Daniel Chapo on Thursday to discuss restarting activities after security interventions helped reduce, but not entirely eradicate, insurgent attacks around its base. "It was a meeting with the perspective of restarting activities," Estevao Pale, minister of mineral resources and Energy said at an event in Inhambane province on Monday, referring to the president's meeting last week. "At the government level, all the conditions are being created to allow investors to restart activities as quickly as possible," Lusa quoted Pale as saying. TotalEnergies declined to comment.
Business Insider
15-07-2025
- Business
- Business Insider
Mozambique clears path for $20 billion TotalEnergies LNG project after years of delay
Mozambique has created the conditions needed to restart TotalEnergies' massive $20 billion liquefied natural gas (LNG) project, according to the country's energy minister. Mozambique plans to resume TotalEnergies' $20 billion LNG project after addressing previous security concerns. The project's inception was based on the 2010 discovery of a vast natural gas reserve in Cabo Delgado province. Operations were halted in 2021 due to security threats from insurgent activities in the region. Mozambique has created the conditions needed to restart TotalEnergies' massive $20 billion liquefied natural gas (LNG) project, according to the country's energy minister. The Mozambique LNG project, located in the Cabo Delgado province, was initiated following the 2010 discovery of an extensive natural gas reserve off Mozambique's northern coast. It culminated in a final investment decision of $20bn in 2019. The French energy giant halted work on the project in 2021 following a deadly insurgent attack near its Afungi site in northern Mozambique. The violence, linked to Islamic State militants, forced TotalEnergies to suspend operations over safety concerns, Reuters reported. Now, with security in the region improved, though not fully restored, TotalEnergies is preparing to resume development this summer. Last week, CEO Patrick Pouyanné met with Mozambique's newly elected president, Daniel Chapo, to discuss plans for restarting operations and the progress made in stabilizing the area. In March 2025, the US Export-Import Bank approved a $5 billion (€4.61 billion) loan to support the Mozambique LNG project, a significant financial boost for the long-delayed development.
