Fourth Quarter Production and Full-Year Growth Outlook

TotalEnergies anticipates its fourth-quarter oil and gas production will exceed previous guidance, projecting a year-on-year increase of nearly 5%. This performance is expected to contribute to a full-year 2025 production growth of almost 4%, surpassing the 3% growth target set the prior year.

Financial Performance and Cash Flow

Despite an annual decline in oil prices of over $10 per barrel, the company forecasts its quarterly cash flow from business segments will remain stable compared to the same period last year. This resilience is attributed to accretive growth in Upstream production and continued improvement in Downstream results during the fourth quarter.

Liquefied Natural Gas (LNG) Sector

In the LNG business, a 5% decrease in the average quarterly price to $8.48 per million British thermal units is projected to be counterbalanced by higher sales volumes and increased production from the Ichthys LNG project in Australia.

Investment and Divestment Plans

Net investments for 2025 are expected to reach nearly $17 billion. This figure includes approximately $2 billion in divestments planned for the fourth quarter.

Refining and Chemicals Division

The company forecasts a strong increase in both cash flow and results for its refining and chemicals division, supported by a margin improvement of more than 30%.