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Paris, November 2, 2026 – For TotalEnergies, war in the Middle East has turned into a record quarter.
The French giant said Thursday net profit hit $8.3 billion from July to September, a new high, while adjusted net income reached $9.1 billion, up 51 percent from $6.0 billion in the second quarter.
Adjusted EBITDA rose 35 percent to $17.81 billion, with operating cash flow at $12.26 billion.
Net income of $8.3 billion compares with $5.4 billion last quarter and $4.0 billion a year earlier.
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TotalEnergies’ European margin indicator jumped to $33.2 per barrel from $13.5, more than doubling, as throughput rose to 1.56 million barrels per day from 1.43 million.
Refining and Chemicals posted $3.6 billion, versus $687 million a year earlier.
Downstream overall delivered $4.1 billion in operating income and $4.6 billion in cash flow, up almost $2 billion.
Chief Executive Patrick Pouyanne cited historic refining levels and a bull gas market.
Gas topped 100 euros per megawatt hour on Oct 28 for the first time in four years.
Brent traded near $114 per barrel, nearly double $65 a year ago.
Attacks in the Strait of Hormuz squeezed exports, knocking 10 percent of global refining capacity, analysts said. U.S. Gulf Coast margins hit $72 per barrel in September.
Shell reported $12.1 billion after tax, more than doubling, on revenue of $92.8 billion and a margin of $42 per barrel.
Repsol quadrupled nine-month profit to 5 billion euros, about $5.6 billion. Analysts expect five Western majors to combine for about $50 billion in third quarter profit.
TotalEnergies is passing gains to investors. The board confirmed a third interim dividend of 0.90 euros per share, up 5.9 percent, and plans $2.5 billion in buybacks in the fourth quarter and another $2.5 billion in early 2027.
In France, where diesel exceeded 2.38 euros per liter, the company capped prices at 1.99 euros for gasoline and 2.25 euros for diesel at 3,300 stations, a measure costing 500 million euros.
