From CNBC: 2025-02-05 02:50:43

TotalEnergies, formerly Total, reported a 21% decrease in full-year 2024 adjusted net income to $18.3 billion. The energy major exceeded expectations with a 4th quarter net income of $4.4 billion, attributing the positive performance to strong results in integrated LNG and power. TotalEnergies aims for $2 billion in share buybacks per quarter in 2025.

The world’s leading oil and gas companies have seen profits decline from record levels in 2022 due to falling global demand. Brent crude futures averaged $80 per barrel in 2024, down from nearly $140 in 2022. Energy giants like Exxon Mobil, Chevron, and Shell reported mixed Q4 and full-year results amidst lower crude prices and weaker refining margins.



Read more at CNBC:: TotalEnergies posts 21% drop in full-year profit on lower crude prices