Politics · Malaysia Bureau
TotalEnergies posts record profit as oil prices surge
French energy giant TotalEnergies reported net profit of US$8.3 billion for the third quarter, nearly 54 percent higher than the preceding three-month period, as elevated global oil prices boosted revenues across its operations.
LSN Malaysia ·
TotalEnergies achieved its strongest quarterly earnings on record during the July-to-September period, driven by sustained high crude oil and natural gas prices in international markets. The company's net profit of US$8.3 billion represented a significant jump from US$5.4 billion recorded in the second quarter.
The French energy multinational, which operates across upstream, downstream and renewable energy segments, benefited from elevated commodity prices throughout the third quarter. Global oil markets remained volatile during the period, with prices responding to supply concerns and geopolitical developments affecting production across key regions.
The results underscore the pronounced earnings volatility facing major international oil companies, where quarterly performance is heavily influenced by fluctuating hydrocarbon prices. TotalEnergies operates production facilities and distribution networks across Asia-Pacific, including downstream operations in Malaysia and other regional markets.
The company's strong third-quarter performance follows a period of record profitability across the global energy sector, as oil majors have reported enhanced cash generation amid elevated prices. These results are likely to reignite discussions regarding windfall profit taxation and energy transition investments by major producers.