TotalEnergies announces record profits for the 2022 financial year. Results driven by liquefied natural gas but also hydrocarbons.
20.5. In billions of dollarsthese are the profits made by TotalEnergies in 2022. Which represents 19.1 billion euros, in 21% increase over last year. This is a record, after the profit of 17 billion euros established during the year 2021. The net profit adjusts (excluding all exceptional items, such as the withdrawal from Russia) even stands at 36.2 billion dollars (33.5 billion euros).
This upward trend is mainly due to activity related to liquefied natural gas (LNG). This commodity has become even more important with the war in Ukraine. TotalEnergies is the second largest producer in the worldbehind Shell, which also announced record revenues.
Hydrocarbons carry TotalEnergies
Gas and oil are also part of these results. During the fourth quarter, hydrocarbon production further increased by 5%. With prices being high, this has allowed us to continue to earn good profits. To compare, LNG sales increased by 22%. Patrick Pouyanné, CEO of TotalEnergies, commented on these results in a press release issued by the energy company:
“Although down from the previous quarter due to uncertainties over the demand outlook, oil and gas prices, as well as refining margins, remained high in the fourth quarter, in supply-constrained markets. . TotalEnergies benefited “from this favorable environment as well as from the increase in its hydrocarbon production (+5%) and its LNG sales (+22%) thanks to its unique position in Europe. »
TotalEnergies is not the only entity in the energy sector to post record profits. This February 7, BP announced $28 billion (26 billion euros) of profits in the 2022 financial year. A number climbing to $40 billion (37.4 billion euros), for Shell, $56 billion (52 billion euros) for ExxonMobil or even $36.5 billion (34 billion euros) for Chevron over the same period.
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