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TotalEnergies: Fall in profits in the 2nd quarter

29/07/2024
Source : ORISHAS-FINANCE
Categories: Sectors Companies

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Due to the drop in sales of refined products and gas, the TotalEnergies group announced last Thursday a 6% drop in its second quarter results, stronger than expected.

The French oil major reported that adjusted net income for the quarter ended June 30 was $4.7 billion, up from $4.96 billion a year earlier and $5.1 billion in the first quarter. In a statement, the company said that low demand for diesel in Europe continues to impact refining margins and prices are falling as market volatility due to the interruption of supply in Russia normalizes. According to a consensus of estimates, analysts expected a stable result of 4.96 billion dollars

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