TotalEnergies Expects Quarterly Hydrocarbon Production to Slip
10.15.2024 By Tank Terminals - NEWS

October 15, 2024 [Market Screener]- TotalEnergies expects third-quarter hydrocarbon production to fall from the previous quarter, meeting the lower end of guidance despite hits from a shutdown of an Australia project and disruptions in Libya.

 

The French energy major said Tuesday that it expects to report hydrocarbon output of 2.4 million barrels of oil-equivalent a day for the period, having guided for production of 2.4 million to 2.45 million BOE. This compares with the output of 2.44 million barrels a day TotalEnergies reported for the second quarter.

Unplanned shutdowns in the company’s Ichthys liquefied natural gas project in Australia and security-related disruptions in Libya were partially mitigated by the ramp up of production at its Mero 2 Project in Brazil, TotalEnergies added.

Integrated liquefied natural gas results are expected to come in above $1 billion, having reported $1.2 billion in adjusted net operating income in the second quarter.

Results in its downstream division are expected to fall sharply on lower refining margins, the company said. In the second quarter, the division reported an adjusted net operating income of $1 billion.

TotalEnergies said the results for its integrated power division are expected to be broadly in line with the second quarter.

 

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