Total Energies profits rise 68% amid market turmoil
Total Energies' profits increased by 68% in the second quarter, driven by rising crude oil and refined product prices due to the war in Iran, which led to tighter fuel supplies. The company's extensive refining and trading activities, along with its benefits from the Middle East conflict, helped achieve strong results despite a decline in profits from the gas sector. The company announced dividends of €0.90 per share and a plan to repurchase $1.5 billion worth of shares in the third quarter, reaffirming its commitment to use profits to reduce debt.
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