TotalEnergies Sees Slightly Higher Hydrocarbon Production In Q4

(RTTNews) - France's TotalEnergies SE (TTE) reported Thursday its fourth-quarter 2024 aggregates and the main elements impacting the quarter aggregates.

Brent would be $74.7 per barrel, down from $84.3 per barrel. Average liquids price would be $71.8 per barrel, down from $80.2 per barrel.

The company said hydrocarbon production is expected to slightly increase, within the quarterly guidance range of 2.4 and 2.45 Mboe/d.

Exploration & Production results are expected to reflect the $5/b decrease in oil prices, partially compensated by higher gas realizations.

The company expects integrated LNG results to benefit from a 6 percent increase in production, LNG realizations above $10/Mbtu and stronger gas trading.

Integrated Power fourth-quarter results are expected to be between $500 million and $600 million, resulting in annual cash flow that is in line with guidance of greater than $2.5 billion.

TotalEnergies noted that Downstream environment, refining and chemicals margins, remains weak. Downstream results and cash flow are expected to reflect the 10 $/t increase in European refining margins.

Gearing is expected to be below 10 percent, benefiting from roughly a $5 billion positive contribution of working capital in the quarter, including $1.5 billion of exceptional items.

In Paris, TotalEnergies shares were trading at 56.82 euros, up 1.59 percent.