Energy & Resources
TotalEnergies says second-quarter profit doubled as hydrocarbon prices rose
TotalEnergies said on 23 July that its net profit doubled in the second quarter, helped by higher hydrocarbon prices that it linked to the conflict in the Middle East.
The French oil and gas company said net profit was $5.4 billion for April to June, compared with $2.7 billion in the same period a year earlier.
Chief executive Patrick Pouyanne said the company was benefiting from its integrated model and diversification in what he described as a high-price environment related to the Middle East conflict.
TotalEnergies said it had also reported a strong rise in net profit in the first quarter, driven by higher oil and gas prices and by trading activity.
The company said oil and gas production had organic growth of more than four percent from a year earlier. It linked the rise to projects launched over the past year in Brazil, the United States and Libya.
TotalEnergies said that growth partly offset production losses in the Middle East. It said some production could not be lifted because of difficulties accessing the Strait of Hormuz.
The company said its Exploration & Production division, where it generates most of its profitability, reported higher adjusted net operating income.
Update
Chief executive Patrick Pouyanne said TotalEnergies was benefiting from its integrated model and diversification in a high-price environment linked to the Middle East conflict.
TotalEnergies said it had already reported a strong rise in first-quarter net profit, also driven by higher oil and gas prices and trading activities.
The company said oil and gas production had organic growth of more than four percent year-on-year, linked to projects in Brazil, the United States and Libya.
TotalEnergies said this growth partly offset production losses in the Middle East.
The company said some production could not be lifted because of difficulties accessing the Strait of Hormuz.
TotalEnergies said its Exploration & Production division reported higher adjusted net operating income.
Source note: AFP news report published on 23 July 2026 at 07:26:13 UTC.
Update
TotalEnergies said net profit was $5.4 billion in the April-to-June period.
The company said net profit was $2.7 billion in the same period a year earlier.
The company attributed the increase to high hydrocarbon prices resulting from the conflict in the Middle East.
Source note: AFP news report published on 23 July 2026 at 06:45:43 UTC.
Uncertainty notes
The source attributes the profit drivers and operational effects to TotalEnergies and its chief executive; it does not independently verify those company explanations.
Source
AFP news report published on .