TotalEnergies says profit doubled on Mideast war
On July 23, French oil and gas giant TotalEnergies said that net profit doubled in the second quarter as conflict in the Middle East pushed up hydrocarbon prices.
TotalEnergies said in a statement that net profit amounted to $5.4 billion in the period from April to June, up from $2.7 billion in the same period a year earlier.
"In a high-price environment related to the conflict in the Middle East, TotalEnergies is capitalising on its integrated model and diversification," said chief executive Patrick Pouyanne.
The company had already reported a very strong rise in net profit in the first three months of the year, also driven by soaring oil and gas prices as well as its trading activities.
