TotalEnergies announced Thursday a net profit multiplied by 23 over one year, to 4.6 billion dollars in the third quarter, taking full advantage of the rise in hydrocarbon prices, in particular the surge in gas.
Read also French banks will no longer finance shale oil
"
The global economic recovery, especially in Asia, led to a sharp rise in the prices of all energies in the third quarter,
" said Patrick Pouyanné, CEO of the French giant, in a statement.
This profit compares to $ 202 million in the third quarter of 2020, a level then low due to the depression of prices.
But, comparing to the third quarter of 2019, before the Covid-19 crisis, this result still appears to be up sharply by 66%.
Hydrocarbon production on the rise
The main explanation for this increase is therefore the rise in the price of hydrocarbons: oil but also gas, particularly in its liquefied form (LNG), an activity in which the group is very active.
This surge in prices also poses purchasing power problems in many countries, because it is reflected in the prices at the pump or in those of heating, forcing governments to intervene.
Read alsoMethane, a gas both polluting and effective lever of action
TotalEnergies also benefited from an upturn in its hydrocarbon production, up 4% over one year in the third quarter, in particular thanks to strong demand for gas and the choice of oil-producing countries to put barrels back on the market. Marlet.