Published on : 28/07/2022 – 09:00Modified : 28/07/2022 – 08:58
Paris (AFP) – The French group TotalEnergies more than doubled its net profit in the second quarter, to 5.7 billion dollars, taking full advantage of the rise in oil and gas prices following the invasion of Ukraine by Russia, he announced on Thursday
This profit was made despite a new provision of 3.5 billion dollars linked to the potential impact of international sanctions on the value of its stake in the Russian group Novatek, the group said in a press release.
Excluding these exceptional items, adjusted net income reached 9.8 billion dollars for the quarter, once morest 3.5 billion a year earlier. Over the half-year, it reached 18.8 billion, almost tripling compared to the first half of 2021.
“The effects of Russia’s invasion of Ukraine on energy markets continued into the second quarter, with oil prices exceeding $110 a barrel on average over the quarter,” CEO Patrick Pouyanné said. in the press release.
This surge in markets benefits the entire oil and gas industry globally. Shell thus unveiled Thursday a net profit multiplied by five in the second quarter, to 18 billion dollars.
In France, these benefits have fueled a debate on the advisability of taxing them. The National Assembly, however, narrowly rejected on Saturday the idea of a tax on the “superprofits” or “exceptional profits” of large multinationals – in particular oil companies – despite protests from the left and the far right.
Instead, TotalEnergies announced a discount of 20 cents per liter of fuel at the pump from September.
© 2022 AFP
