TotalEnergies Net Profits Double to Record $36.2 Billion in 2022

TotalEnergies Net Profits Double to Record $36.2 Billion in 2022
The logo of French oil and gas company TotalEnergies at the company's headquarter skyscraper in La Defense near Paris on Oct. 12, 2022. Gonzalo Fuentes/Reuters
Reuters
Updated:

PARIS—French oil major TotalEnergies posted a record net profit of $36.2 billion in 2022, double the previous year, joining in the sector’s bumper earnings thanks to higher oil and gas prices since Russia invaded Ukraine.

TotalEnergies’ fourth-quarter adjusted net income was $7.6 billion, including a $4.1 billion impairment related to the deconsolidation of its stake in Russian gas firm Novatek.