TotalEnergies Steady as Oil Prices Soar and Low-Carbon Investments Grow

TotalEnergies SE stock has maintained its balance between traditional oil and gas exposure and low-carbon investments, thanks to strong cash flow from higher hydrocarbon prices.

The French energy group generated adjusted net income of about $23.8 billion in 2023, down from the record levels reached in 2022 when exceptionally high gas and oil prices drove earnings to roughly $36.2 billion.

TotalEnergies invested approximately $17 billion in net capital expenditure in 2023, with a significant portion directed toward new projects in liquefied natural gas, flexible power generation, and renewable energy.