Multinational energy business TotalEnergies, headquartered in France, has posted an 18% year-on-year drop in net income in the first quarter of 2025, falling from $5.1bn to $4.2bn.
The quarterly profit of $4.2bn was slightly down on the previous Q4 result ($4.4bn), but broadly in line with it, and the company made progress on many fronts in the quarter.
Integrated LNG recorded net operating income of $1.3bn and cashflow of $1.2bn for the first quarter, driven by higher year-on-year prices but was lower than Q4. The division’s performance was down 10% on the previous quarter but up 6% year-on-year.
LNG trading results were “in line with expectations” while gas trading grappled with the downturn of European markets following heightened uncertainties in the Russia–Ukraine conflict.
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