French energy giant Total Energies has announced an increase in its security readiness for operations in the Middle East, given the current situation in Gaza. Meanwhile, the company’s teams in Iraq continue their activities as usual.
The company recently reported profits of $6.7 billion in the third quarter of this year, representing a year-on-year increase of over 1.5%, despite the general decline in fuel prices following last year’s record high in the public sector.
Patrick Pouyanné, Chairman and CEO of the company, stated in a press release, “Total Energies has once again demonstrated its ability to leverage favorable market conditions while simultaneously executing its strategy for a balanced transition between oil and gas on one hand, and electricity and renewable energies on the other.”
Total Energies’ production during the third quarter reached approximately 2.5 million barrels per day, with the group’s oil and gas activities showing a 5% year-on-year growth.
This growth is attributed to various oil projects, especially in Brazil and Iraq, as well as ongoing investments in low-carbon electricity production.
The group’s results remain historically high in the context of continued energy price increases, although to a lesser extent compared to last year’s exceptional rise in gas and oil prices.
