LA DEFENSE (dpa-AFX) - TotalEnergies SE (TTE.PA), a French integrated energy company, said Thursday it expects third-quarter hydrocarbon production to reach 2.45 million to 2.50 million barrels of oil equivalent per day (Mboe/d).
Excluding the impact of the Middle East conflict, production is expected to grow more than 4% year-over-year, above the company's annual guidance of 3%.
Integrated LNG results are expected to rise sharply, driven by a 20.4% quarter-over-quarter increase in average LNG prices to $12.28 per million British thermal units (MMBtu) and strong LNG and gas trading amid the prolonged Strait of Hormuz conflict and expectations of robust winter demand.
Downstream results and cash flow are expected to reach exceptional levels, with Refining & Chemicals cash flow projected to increase by $2 billion quarter-over-quarter. A 10% increase in refining throughput and historically high refining margins in Europe and worldwide supported the outlook. The European Refining Margin Marker more than doubled to $33.2 per barrel from $13.5 per barrel in the second quarter of 2026.
Integrated Power results and cash flow are expected to benefit from a full-quarter contribution from TTEP, a joint venture between EPH and TotalEnergies, with cash flow projected at $750 million to $800 million.
The company also expects a positive working capital contribution of about $3 billion in the quarter.
In Paris, TotalEnergies shares were flat at €80.17 on Thursday.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
