TotalEnergies Posts $6 Billion Profit Amid Middle East Price Volatility

Despite production challenges in the Middle East, which impacted output by approximately 210,000 barrels of oil equivalent per day, TotalEnergies maintained strong cash flow generation at $9.8 billion. The company’s upstream segment benefited from a rise in liquid prices and organic production growth in regions including Brazil and the United States, keeping operating costs steady at $5 per barrel. Refining and chemicals performance bolstered the bottom line, capturing significant margins even as gas trading activities in Europe faced a softer market compared to the first quarter.

Looking ahead, the board of directors confirmed a focus on dividends and debt reduction. The company declared a second interim dividend of €0.90 per share, a 5.9% increase from the previous year, while authorizing continued share buybacks of up to $1.5 billion for the third quarter. TotalEnergies also remains committed to its $15 billion net investment guidance for 2026, balancing capital discipline with ongoing energy transition projects, including new solar and wind initiatives in the Philippines and Kazakhstan.