These profits come despite Brent crude averaging $97 in the third quarter, down from $103.8 in the second. While conflict in the Middle East affected 5% of company output, total production grew to between 2.45 million and 2.50 million boe/d. TotalEnergies' gains are part of a broader $32 billion windfall facing oil majors, leaving investors questioning how the world's largest companies will deploy the extra cash. The company releases full results on October 29.
Tuesday, October 20, 2026
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TotalEnergies Refining Margins Hit $33.2 per Barrel in Q3 Windfall
Earnings6 days ago
The oil producer is forecasting higher returns for its most recent reporting period as processing assets across Europe benefit from tighter regional supplies. Refining margins for the company hit $33.2 per barrel, nearly four times the $8.4 recorded a year earlier and up from $13.5 in the second quarter. This spike, paired with a 10% rise in refining throughput, will increase refining and chemicals cash flow by $2 billion. Other gains include a 20% quarterly rise in average LNG prices to $12.28 per MMBtu and European gas prices climbing to $21.5 from $15.6.
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