Restart in a rush. According to its latest financial statement, TotalEnergies has made a huge net profit of 16 billion dollars (about 14 billion euros) in 2021. These profits, the highest for at least 15 years, follow a loss of $ 7.2 billion in 2020 due to the Covid-19 crisis, which had weighed on oil prices, and impairments.
The French energy giant took advantage of soaring oil prices last year amid a global economic recovery and still limited production from some countries. Brent North Sea crude was worth $70.9 a barrel in 2021, up from just $41.8 a barrel the previous year. Tariffs that are felt at the pump, where gasoline regularly crosses 2 euros per liter.
The left winces
In 2021, the adjusted net profit of the TotalEnergies group (which excludes certain exceptional events and serves as a benchmark) reached $18.1 billion, 4.4 times compared to 2020. These huge profits, in the midst of the energy crisis with rising costs for households, had been the subject of criticism even before their publication.
The ecologist candidate Yannick Jadot had denounced Wednesday profits “on the backs of the French and the French” while “gas and gasoline bills that are rising, it is for the benefit of shareholders”.
“Il n’y a qu’à leur prendre, tant mieux,” avait lancé le leader insoumis Jean-Luc Mélenchon dans un meeting. The strong results of BP and Shell in the UK had also recently prompted calls for a windfall tax.
Faced with the current outbreak, TotalEnergies had unveiled on Wednesday a pump discount at its stations located in rural areas in France, as well as a “gas check” of 100 euros for its gas customers in a situation of “energy insecurity”.