TotalEnergies Starts Buybacks As Rallying Oil Price Boosts Earnings ...Middle East

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TotalEnergies Starts Buybacks As Rallying Oil Price Boosts Earnings
source : OILPRICE ( Middle East ) () 5
TotalEnergies (NYSE: TTE) will be allocating up to 40 percent of additional cash flow to share buybacks as rallying commodity prices helped it generate in the second quarter more than double cash flow from operations compared to Q2 2020. TotalEnergies reported on Thursday an adjusted net income of $3.46 billion for the second quarter of 2021, up from $129 million for Q2 2020, and 20 percent higher compared to the pre-crisis Q2 2019 quarter. Cash flow from operations jumped by 63 percent from Q2 2020 to $6.8 billion for the second quarter of this…

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