TotalEnergies 4Q Profit Jumps Boosted By Oil, Gas Prices

   By Giulia Petroni 
 

TotalEnergies SE on Thursday said that profit jumped in the fourth quarter of the year as business benefited from a strong oil-and-gas price environment.

The French major said quarterly net profit came in at $5.84 billion compared with $891 million for the same period last year. On an adjusted basis, profit was $6.83 billion, above a FactSet-compiled consensus that had the figure at $6.07 billion.

Total's hydrocarbon production was 2.85 million barrels of oil equivalent a day in the quarter. The company said it expects production to grow by around 2% in the current year.

Sales for the third quarter rose to $60.35 billion from $37.94 billion for the year-earlier period.

TotalEnergies said it will propose a final dividend of 0.66 European cents ($0.75) for 2021, equal to the previous three interim payments. The 2021 dividend will amount to EUR2.64 a share and will be paid in cash.

The shareholder return policy for the current year will combine an increase in interim dividends of 5% and share buybacks, which are expected to be $2 billion for the first half of 2022, according to the company.

Write to Giulia Petroni at [e-mail]

(END) Dow Jones Newswires

February 10, 2022 02:51 ET (07:51 GMT)

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