TotalEnergies also sees profits fall due to lower oil and gas prices
TotalEnergies posted lower profits in the fourth quarter of 2025. Full-year results were also under pressure, despite higher production. The group announced this last Wednesday.
Adjusted net profit fell 13 per cent to $3.8 billion (about 3.2 billion euros) in the fourth quarter, down from $4.4 billion a year earlier. In doing so, the group performed roughly in line with analysts’ expectations, who on average were counting on $3.9 billion.
As in the second quarter of last year, the decline is linked to lower oil and gas prices. These outweighed the positive effects of higher refining margins and proceeds from the sale of shares in renewable energy projects.
2025
For all of 2025, adjusted net income came to $15.6 billion, down 15 per cent from last year. Lower energy prices also weighed on profits here.
TotalEnergies increased production by 4 per cent to 2.53 million barrels of oil equivalent per day to cope with lower prices. Still, this did not help the group avoid the profit drop. The average price of Brent oil fell to $68 a barrel by 2025, from almost $80 a year earlier.
Furthermore, the company announced to limit its share buyback in the first quarter to $750 million. In doing so, TotalEnergies is taking a more cautious course, just like industry peer BP, which has stopped its share buybacks completely. According to the group, this restraint is necessary given current market conditions. The amount may be raised later if the situation improves.
It was also revealed earlier that rivals Shell and BP posted lower profits last year due to falling oil and gas prices.
View TotalEnergies’ Q4 figures and full-year figures here.
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