TotalEnergies: 4th quarter refining margin rebounds

(CercleFinance.com) - TotalEnergies announces that its European refining margin indicator has recovered to $25.
9 per tonne in the fourth quarter of 2024, compared with $15.4 in the third quarter, an increase that should be reflected in downstream results and cash flow.

On the upstream side (exploration-production), the oil and gas company expects hydrocarbon production to rise slightly, in the quarterly guidance of between 2.4 and 2.45 Mboe/d (million barrels of oil equivalent per day).

It also estimates that integrated LNG results will benefit from gas trading 'returning to the level of performance achieved in the fourth quarter of 2023', and that integrated power results should come in at between $500 and $600 million.

'The debt-to-equity ratio is expected to be below 10%, benefiting from an improvement in working capital of around $5 billion over the quarter, including $1.5 billion in exceptional items', it adds.

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