Despite production challenges in the Middle East, which impacted output by approximately 210,000 barrels of oil equivalent per day, TotalEnergies maintained strong cash flow generation at $9.8 billion. The company’s upstream segment benefited from a rise in liquid prices and organic production growth in regions including Brazil and the United States, keeping operating costs steady at $5 per barrel. Refining and chemicals performance bolstered the bottom line, capturing significant margins even as gas trading activities in Europe faced a softer market compared to the first quarter.

Looking ahead, the board of directors confirmed a focus on dividends and debt reduction. The company declared a second interim dividend of €0.90 per share, a 5.9% increase from the previous year, while authorizing continued share buybacks of up to $1.5 billion for the third quarter. TotalEnergies also remains committed to its $15 billion net investment guidance for 2026, balancing capital discipline with ongoing energy transition projects, including new solar and wind initiatives in the Philippines and Kazakhstan.