French oil major TotalEnergies posted a record net profit of $36.2 billion in 2022, double the previous year, joining in the sector's bumper earnings thanks to higher oil and gas prices since Russia invaded Ukraine
The logo of French oil and gas company TotalEnergies is seen at the company's headquarter skyscraper in La Defense near Paris, France, October 12, 2022. REUTERS/Gonzalo Fuentes/
Chief Executive Patrick Pouyanne told reporters the global backdrop remained very favourable for energy companies, with the relaxing of COVID-19 measures in China pushing up demand. TotalEnergies said it would propose a dividend of 2.81 euros per share, up 6.4% from a year earlier and on top of an already announced 1 euro per share special payout.
As previously announced, it booked a $1.7 billion provision for extraordinary windfall taxes levied in the European Union and Britain in the fourth quarter. The company said it expected net investments of $16-18 billion in 2023, including $5 billion for low-carbon energy.Our Standards:
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