TotalEnergies posts adjusted net profit of $9.1 billion
The French energy group benefits from high refining margins and costly oil and gas.
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TotalEnergies posted adjusted net profit of $9.1 billion in the third quarter. The energy group attributes the strong results to high refining margins and favourable market conditions for oil and gas.
TotalEnergies’ adjusted net profit came to $9.1 billion in the third quarter of 2026, the company reported. According to the company, that is more than twice as much as in the same period a year earlier, when adjusted net profit was $4 billion.
Cash flow was also high: TotalEnergies reported $12.3 billion in cash flow from operating activities. The company says its integrated business model, bringing together production, trading, refining and sales, helped it take advantage of market conditions.
According to Reuters, the results come at a time when oil and gas prices have risen sharply. Reuters says refining margins increased substantially in the third quarter compared with a year earlier. Reuters partly attributes the disruption to energy markets and higher prices to the war in the Middle East.
TotalEnergies also announced share buybacks worth a combined $2.5 billion for the fourth quarter of 2026 and the first quarter of 2027. According to the company, the interim dividend remains at €0.90 per share.
For consumers, higher energy prices do not automatically mean that an oil company’s profit is directly reflected in the price of petrol. Final prices also depend on taxes, transport, refining, exchange rates and the margins of other links in the chain.
The results raise the question of how the benefits and burdens of higher energy prices are divided between energy companies and energy users. The figures also say little about how sustainable these profit levels are if oil and gas prices fall again.
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One story, several perspectives
What is established
- TotalEnergies reported $9.1 billion in adjusted net profit for the third quarter.
- The company announced new share buybacks and maintained the interim dividend.
- The higher profit coincides with high energy prices and rising refining margins.
Left
Arguments Exceptional profits during an energy crisis should be taxed more heavily or partly used to protect households and businesses. Under this approach, the market position of large energy companies warrants stricter public oversight.
Values Affordability, redistribution, climate responsibility and public control.
Consequences A higher levy could fund support for energy users, but could also affect investment or companies’ international competitiveness.
Centre
Arguments The profit figures are a result of international market conditions, but consumers should be protected against extreme price volatility. Targeted support and transparency are more appropriate than broad price interventions.
Values Stability, affordability, practical implementation and predictable policy.
Consequences Targeted measures reduce the burden on vulnerable groups without disrupting the entire energy market, but do not resolve structural dependence on fossil fuels.
Right
Arguments High profits incentivise companies to continue supplying energy and investing. Additional taxes or price caps could discourage supply and investment and ultimately lead to even higher prices.
Values Market forces, property rights, investment and energy security.
Consequences Giving companies room to operate can strengthen security of supply, but households then remain more exposed to international price movements.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
Fact-check Approved · Nour Haddad — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The key financial figures were checked directly against TotalEnergies’ quarterly report. The broader market analysis was supported by Reuters and contains no unsubstantiated precise causality.
- confirmed TotalEnergies posted $9.1 billion in adjusted net profit in the third quarter. — Stated in the official quarterly report. source
- confirmed Cash flow amounted to $12.3 billion. — Mentioned in the official quarterly report. source
- confirmed TotalEnergies is buying back $2.5 billion worth of shares in the fourth quarter of 2026 and the first quarter of 2027. — Included in the official results announcement. source
- confirmed Higher refining margins and disrupted energy markets contributed to the strong results. — Supported by explanations from TotalEnergies and Reuters. source
Editor's note
The profit, cash flow, share buybacks and dividend come from the company’s results. The link to the war in the Middle East is based on Reuters and is described as a market condition, not as the sole cause of the profit.Sources
- Third quarter 2026 results — TotalEnergies
- TotalEnergies third-quarter profit up 127% — Global Banking & Finance Review / Reuters
- TotalEnergies flags quarterly profit surge as Iran war continues to drive energy prices — Reuters via Euronext
More on this in Dutch media
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