TotalEnergies (EURONEXT:TTE) reported stronger Q2 results and raised guidance as revenue, EBITDA and cash flow rose, boosted refining, trading and LNG sales (including Yamal volumes); the group advances multiple FIDs and LNG supply talks while eyeing a Papua New Guinea FID by November.
Previous Week Recap
- TotalEnergies Q2 Revenue, EPS Rises: TotalEnergies (TTE) Q2: adjusted EPS $2.68, net income $5.44B, adjusted net $6.0B, cash from ops $9.8B, revenue $61.77B (+24.5%), EBITDA +27%, production up; guidance raised.
- Namibia Venus FID This Month: TotalEnergies: Namibia Venus FID expected this month; Galp to join. Cronos (Cyprus) FID due next week. Gran Morgu (Suriname) production targeted H1 2028.
- LNG Cargo Talks With Egypt: TotalEnergies in talks to supply 15–18 LNG cargoes monthly to Egypt and partners over a 3–5 year term; negotiations ongoing, no deal finalized.
- Refining & Chemicals Profit Jump: TotalEnergies' refining & chemicals profit rose to $1.8B, over four times prior, aided by higher diesel/jet output; crude and products trading added about $500M, offsetting outage impacts.
- LNG From Russia: $400M: TotalEnergies earns about $400 million a year from selling LNG cargoes sourced from Russia’s Yamal LNG, CEO said.
- PNG LNG FID By November: TotalEnergies CEO Patrick Pouyanné says the company aims to take final investment decision on the Papua New Guinea LNG project by November — key timing for TTE traders.
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