TotalEnergies Keeps Buybacks Despite Profit Drop on Weak Refining ...Middle East

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TotalEnergies Keeps Buybacks Despite Profit Drop on Weak Refining
source : OILPRICE ( Middle East ) () 179
TotalEnergies (NYSE: TTE) saw its first-quarter earnings decline amid weak refining margins, but the French supermajor remains confident it can sustain $2-billion buybacks in the second quarter despite lower oil prices. TotalEnergies reported on Wednesday an adjusted net income of $4.2 billion for the first quarter, down by 5% from the fourth quarter of 2024 and down by 18% from a year earlier. As previously advised, TotalEnergies raised its first-quarter oil and gas production by 4% on the year, to the top end of its 2.5 to 2.55 million barrels…

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