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Total Energies profits double amid oil trading
Total Energies' profits doubled significantly during the first quarter of the year, reaching approximately one billion dollars due to a wave of oil purchases ahead of the Iranian war. An additional profit of half a billion dollars was also achieved from usual performance. The company increased its oil purchases in light of tensions in the Strait of Hormuz and experienced a roughly 30% rise in profits during the quarter, despite criticisms related to rising energy prices affecting French households and businesses. The company expects second-quarter profits to be higher, as the crisis continues and social responsibility costs to address rising prices also persist.
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