TotalEnergies’ Profit Rises 68% Amid Energy Market Turmoil
French energy company TotalEnergies SE announced a significant increase in its second-quarter profit, driven by escalating crude and refined product prices resulting from the ongoing Iran conflict. This boost in hydrocarbon revenues offset a notable decline in profits from its gas division. According to the company’s statement released Thursday, adjusted net income experienced a 68% surge, reaching $6.03 billion compared to the same period last year. This performance aligned with revised analyst forecasts, which had been adjusted downward due to TotalEnergies’ recent disclosure of a substantial underperformance in its integrated gas unit’s trading activities.