TotalEnergies Books Record Quarterly Profit As LNG Business Booms ...Middle East

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TotalEnergies Books Record Quarterly Profit As LNG Business Booms
TotalEnergies (NYSE: TTE) posted a record profit for the third quarter, driven by high energy prices and soaring prices of LNG as Europe scrambles to procure gas ahead of the winter. TotalEnergies reported on Thursday an adjusted net income of $9.9 billion for the third quarter—more than double the adjusted earnings for Q3 2021 and a record for the company. Net income stood at $6.6 billion after taking into account a new impairment of $3.1 billion related to Russia. Despite the impairment, the net income in Q3 was still 43% higher than in…

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