Total Energies boosts profits amid price rises
French company TotalEnergies announced that its net profits in the second quarter of 2026 doubled to $5.4 billion, driven by rising fuel prices linked to the conflict in the Middle East. Compared to the first half of the year, the company recorded profits of $11.2 billion, an increase of 73% year-on-year, surpassing the results of 2022, which marked the beginning of the war in Ukraine. Despite this strong performance, the company's profits fell short of investor expectations, with a significant decline in the liquefied natural gas sector due to weak performance in the European market, amid an increase in oil and gas production by more than 4%, supported by projects in several countries. This performance has sparked calls for taxes on the profits of oil companies, while TotalEnergies faces criticism over the absence or weakness of taxes on its global profits in France.
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