TotalEnergies Posts Higher 3Q Profit, Increases Dividend
26 Outubro 2023 - 4:06AM
Dow Jones News
By Giulia Petroni
TotalEnergies increased shareholder distribution after its
third-quarter profit rose, boosted by a supportive price
environment.
The French oil-and-gas major said quarterly net profit came in
at $6.68 billion compared with $6.63 billion in the same period
last year. On an adjusted basis, profit was $6.45 billion.
Hydrocarbon production was 2.48 million barrels of oil
equivalent a day from 2.67 million boe/d in the previous year.
Excluding Russia's Novatek, production was up 5% on year boosted by
the start-up of several projects.
The company expects fourth-quarter production of between 2.4
million boe/d and 2.5 million boe/d, reflecting the impact of the
sale of oil sands assets in Canada.
Quarterly sales fell to $59.02 billion from $69.04 billion in
the year-earlier period.
TotalEnergies said it anticipates cash proceeds of around $4.1
billion in the fourth quarter from the Canadian assets divestments,
which could bring gearing below 8%. It plans net investments of
between $16 billion and $17 billion for the current year.
The company will distribute a third interim dividend of 0.74
European cents ($0.78) a share for 2023, up 7.25% on year.
Shareholder distribution is close to 43% of cash flow from
operations at the end of September, in line with annual guidance of
more than 40%.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
October 26, 2023 02:51 ET (06:51 GMT)
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