French oil and gas company TotalEnergies reported a 22% year-on-year decrease in net profit for the fourth quarter of 2024, Report informs referring to Interfax.
According to the company, net profit in October-December amounted to $3.956 billion.
Adjusted profit decreased to $4.406 billion from $5.226 billion a year earlier. Revenue in the fourth quarter decreased by 14% to $47.116 billion. Hydrocarbon production in the past quarter decreased to 2.43 million barrels of oil equivalent per day compared to 2.462 boe/d in the same period last year. In the first quarter of 2025, the French company plans production at the level of 2.5-2.55 million boe/d.
TotalEnergies’ Board of Directors recommended paying dividends for the past year at 3.22 euros per share. This is 7% higher than dividends for 2023. The company also announced that it will continue to buy back its own shares at $2 billion per quarter.
