TotalEnergies Reports 68% Rise in Profit Amid Oil Price Surge
TotalEnergies reported a significant increase in its adjusted net income, rising by 68% year-over-year to $6 billion for the second quarter of 2026. The surge was driven by higher oil prices and improved refining margins, which boosted earnings and cash flows across the company's operations. The French energy giant attributed much of this performance to strong crude oil trading results and a rise in European refining margins, reaching $12.4 per barrel compared to $4.3 per barrel at the same time last year. Despite challenges accessing the Strait of Hormuz, TotalEnergies' Exploration & Production segment saw adjusted net operating income reach $3.2 billion. The company also announced an increase in its second interim dividend and plans for continued share buybacks up to $1.5 billion during Q3 2026.
Topics: dividend_increase energy oil_prices refining_margins