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Home Sectors Commodities

TotalEnergies posts record net profits of $36.2 bln in 2022

by Web Admin
09/02/2023
in Commodities
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TotalEnergies posts record net profits of $36.2 bln in 2022
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French oil major TotalEnergies posted a record adjusted net profit of $36.2 billion in 2022, double the level of a year earlier, joining in the sector’s bumper earnings due to higher oil and gas prices since Russia invaded Ukraine.

TotalEnergies’ fourth-quarter adjusted net income was $7.6 billion, including a $4.1 billion impairment related to the deconsolidation of its stake in Russian gas firm Novatek NVTK.MM.

French oil major TotalEnergies posted a record adjusted net profit of $36.2 billion in 2022, double the level of a year earlier, joining in the sector’s bumper earnings due to higher oil and gas prices since Russia invaded Ukraine. PHOTO / COURTESY.

The net income for the last three months of the year was bang in line with analyst estimates in a consensus by Refinitiv and compared with $6.8 billion a year earlier, and $9.9 billion in the third quarter of 2022.

The company said it would propose a dividend of 2.81 euros per share, up 6.4% from a year earlier and on top of an already announced 1 euro per share special payout.

As previously announced, TotalEnergies booked a $1.7 billion provision for extraordinary windfall taxes levied in the European Union and Britain in the fourth quarter.

The company said it expected net investments of $16-18 billion in 2023, including $5 billion for low-carbon energy.

Source: Reuters

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