TotalEnergies' Third Quarter Net Income Plummets ©This is Beirut
TotalEnergies reported a dramatic decline in its net profit for the third quarter, falling to €2.1 billion due to a sharp drop in refining margins and lower oil prices, the group announced Thursday.
“In a bearish oil environment, with refining margins down sharply, TotalEnergies is demonstrating the resilience of its integrated multi-energy model,” said CEO Patrick Pouyanné in the earnings release.
The world's fourth-largest oil and gas company, which reports in dollars, saw its third-quarter net income decrease by 39% in US currency, totaling $2.3 billion.
With AFP
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