TotalEnergies reported net income of $5.4bn in the second quarter of 2026 (Q2 2026), a 100% increase from $2.7bn in the same period of the previous year.
The company’s adjusted net income rose to $6bn, up from $3.6bn, a 67% increase.
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Cash flow from operating activities was reported at $10.9bn, compared to $6bn in Q2 2025, reflecting an 82% increase.
TotalEnergies reported adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of $13.2bn for Q2 2026, a 36% increase from $9.7bn in Q2 2025.
Cash flow from operations, excluding working capital, was $9.8bn, up from $6.6bn, indicating a 48% increase.
The refining and chemicals segment saw cash flow increase to $3.6bn from $887m, a fourfold rise.
In the upstream sector, TotalEnergies maintained its operating costs at $5 per barrel (bbl).
TotalEnergies’ hydrocarbon production in Q2 2026 was 2.395 million barrels of oil equivalent per day (mboe/d), a 4% decrease compared to 2.503mboe/d in the same period last year.
The exploration and production segment posted adjusted net operating income of $3.2bn, capturing the increase in the average selling price of liquids.
The integrated liquefied natural gas (LNG) segment achieved adjusted net operating income and cash flow of $800m, despite a challenging market environment in Europe.
The downstream segment posted cash flow of $2.9bn, driven by strong performance in refining and petrochemical margins, and trading activities.
For the first half of 2026 (H1 2026), TotalEnergies reported net income of $11.2bn, a 72% increase compared to the same period in the previous year.
The company’s revenue from sales amounted to $106.6bn, up from $92.6bn in H1 2025. This growth was supported by higher sales volumes and favourable market conditions.
Additionally, TotalEnergies’ cash flow from operating activities for H1 was $14.2bn, a 67% increase from the previous year.
During the reported quarter, TotalEnergies reached a deal in the United Arab Emirates market with a 10% stake in the Bab Gas Cap onshore concession in Abu Dhabi.
The company has also reached a final investment decision on the Umm Shaif Gas Cap project, which aims to produce more than 600 million cubic feet per day of gas by 2030, alongside monetising associated condensates.
In Malaysia, TotalEnergies divested a non-operated interest in the Marjoram gas field.
The company has also entered into a cooperation agreement with the Syrian Petroleum Company for offshore exploration in Block 3.
In Egypt, a similar agreement has been signed with EGAS to explore offshore opportunities.
Furthermore, the ECA LNG project on the Pacific coast of Mexico began operations, enhancing the company’s LNG portfolio towards the Asian market.
TotalEnergies CEO Patrick Pouyanné said: “In a high-price environment related to the Middle East conflict, TotalEnergies is leveraging its integrated model and portfolio diversification to post adjusted net income of $6bn and cash flow of $9.8bn in the second quarter, up almost 15% quarter-to-quarter.
“Second quarter oil and gas production reached 2.395mboe/d, benefitting from organic production growth of more than 4% year-on-year, notably from the ramp-up of projects started last year (Mero 4 and Lapa SW in Brazil, Ballymore in the US and Mabruk in Libya), which partly compensated for the impact of production losses in the Middle East to an average 210,000boe/d over the quarter.”
