TotalEnergies recorded a net profit of $5.7 billion in the 1st quarter of 2024, further improving its results by 3% year-on-year, thanks to “sustained” oil prices and refining margins, and despite the slowdown gas prices, the oil and gas group announced on Friday.
The company, which is celebrating its 100th anniversary this year, “once again demonstrates this quarter the relevance of its balanced transition strategy anchored on two pillars, hydrocarbons and electricity,” declared CEO Patrick Pouyanné quoted in a group press release. . These results are part of an “environment marked by sustained oil prices and refining margins, but declining gas prices,” commented the manager.
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