Oil & Gas

French energy giant TotalEnergies has reported a 17% decline in adjusted net income for the first quarter of 2025, with profits falling to $4.2 billion. The downturn was primarily driven by falling global oil prices and weaker refining margins across Europe, reflecting the broader challenges currently facing the global energy market.

Despite the drop in profits, TotalEnergies demonstrated operational resilience through increased output. The company recorded a 4% year-on-year growth in oil and gas production, highlighting its continued investment and efficiency in upstream operations. This production boost helped partially offset the revenue losses from lower crude prices.

In addition, TotalEnergies saw an 18% increase in electricity output, reinforcing its commitment to diversifying its energy mix. The rise in power generation indicates the company’s growing presence in the low-carbon energy space, a strategic move aimed at long-term sustainability amid the ongoing global energy transition.