TotalEnergies is definitely doing very well.
The oil group, hit by a strike for several weeks, announced Thursday a net profit of 6.6 billion dollars in the 3rd quarter.
A figure up 43% compared to that of the 3rd quarter of 2021 thanks in particular to the record results of the gas and LNG activities, the prices of which have soared.
TotalEnergies has already garnered $17.3 billion in profits in nine months, more than all of last year ($16 billion).
Oil and gas, especially liquefied natural gas (LNG) whose prices soared as Europe sought to fill its reserves for the winter, largely boosted the group's profits.
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The profit was made despite a new provision of $3.1 billion related to risks on Russia, after provisions in the first two quarters.
Excluding these exceptional items, the adjusted net income reached 9.9 billion dollars for the quarter, higher than the expectations of a consensus of analysts from Factset who forecast 9.6 billion.
"In a context marked by an average Brent price of $100 per barrel and gas prices exacerbated by Russia's military aggression in Ukraine, TotalEnergies has been able to take advantage of its integrated model, particularly in gas liquefied natural gas (LNG), to generate results in line with previous quarters,” Group CEO Patrick Pouyanné said in a statement.
“We will tax them”
This announcement has generated very positive reactions from the government, which sees potential positive effects on households.
“I say so much the better.
(…) When a French company succeeds, I think we should all be satisfied with this success and we should all be proud to have a large energy company that is French like Total,” said Bruno Le Maire on BFM Business.
The Minister recalled that the results of TotalEnergies made it possible to extend until mid-November the rebate at the pump on fuel, of 20 cents per liter by TotalEnergies in its service stations (in addition to the 30 cents by the State) .
According to Bruno Le Maire, these results also allow TotalEnergies to “increase salaries” and “give employees a 13th month”.
"It's good news if they share the value in the company", "if they lower the bill for the French", nuanced the Minister of Public Accounts Gabriel Attal on FranceInfo radio.
“We are going to tax them”, he added, in reference to the European mechanism which should make it possible to tax refining activities in France.
