TotalEnergies Reveals Second Quarter 2024 Performance Indicators

Paris, July 16, 2024 – TotalEnergies has released its key financial indicators for the second quarter of 2024. The Euro to Dollar exchange rate remained stable, with minor fluctuations from 1.08 to 1.09. Brent crude oil price averaged $85 per barrel, slightly higher than the $83.2 recorded in the first quarter.

The average liquid price stood at $81 per barrel, while gas prices saw a marginal decline to $5.05 per Mbtu from $5.11. LNG prices were also slightly down at $9.32 per Mbtu. The European Refining Margin Marker dropped significantly to $44.9 per ton from $71.7 in the previous quarter.

TotalEnergies' hydrocarbon production is expected to hit the higher end of the guidance range at 2.45 Mboe/d. Exploration and Production results should align with this projection, benefiting from increased oil prices while facing decreased gas realizations.

The Integrated LNG sector should perform similarly to the first quarter but with minor price reductions. Seasonality is expected to influence Integrated Power results to hover around $500 million. Downstream results will be impacted by lower refining margins in Europe and the Middle East but will see some compensation from higher refinery usage and improved marketing results.