REG-TotalEnergies SE Trading Statement
TotalEnergies' Q3 2026 trading statement points to a sharp sequential earnings improvement, with Brent averaging $97.0/b and the European Refining Margin Marker jumping to $33.2/b from $13.5/b in Q2. Hydrocarbon production is guided to 2.45-2.50 Mboe/d, up more than 4% YoY excluding the Middle East impact, above the 3% annual guidance. Integrated LNG results are expected to rise sharply on a 20% QoQ LNG price increase and strong trading outperformance.
Key figures
- Guidance
- Q3 2026: hydrocarbon production 2.45-2.50 Mboe/d; production ex-Middle East up >4% YoY vs 3% annual guidance; Refining & Chemicals cash flow up ~$2B QoQ; TTEP cash flow $750-800M; positive working capital contribution ~$3B
- Erm usd b
- 33.2
- Ttf usd mbtu
- 21.5
- Brent price usd b
- 97
- Ttep cash flow usd
- $750-800M
- Avg gas price usd mbtu
- 7
- Avg lng price usd mbtu
- 12.28
- Avg liquids price usd b
- 87.1
- Hydrocarbon production mboed
- 2.45-2.50
- Rc cash flow increase qoq usd
- ~$2B
- Working capital contribution usd
- ~$3B
AI analysis
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