REG-TotalEnergies SE Trading Statement
Key Highlights
- ➤Hydrocarbon production expected at 2.45-2.50 Mboe/d in 3Q26
- ➤Integrated LNG results expected to rise sharply on higher prices and trading
- ➤Refining & Chemicals cash flow projected up $2 billion quarter-over-quarter
- ➤Integrated Power cash flow anticipated at $750-$800 million from TTEP contribution
- ➤Around $3 billion positive working-capital contribution anticipated in 3Q26
The main indicators, estimated financial information and key elements impacting TotalEnergies’ (Paris:TTE) (LSE:TTE) (NYSE:TTE) third quarter 2026 aggregates are shown below:
3Q26 2Q26 1Q26 4Q25 3Q25 €/$ 1.15 1.16 1.17 1.16 1.17 Brent ($/b) 97.0 103.8 81.1 63.7 69.1 TTF ($/Mbtu) 21.5 15.6 13.7 10.3 11.3 Average liquids price * ((1)) ($/b) 87.1 91.6 73.7 61.4 66.5 Average gas price * ((1)) ($/Mbtu) 7.00 5.55 5.59 5.11 5.50 Average LNG price ** ((1)) ($/Mbtu) 12.28 10.20 8.48 8.48 8.91 European Refining Margin Marker (ERM) *** ($/b) 33.2 13.5 11.4 11.4 8.4 * Sales in $ / Sales in volume for consolidated affiliates. ** Sales in $ / Sales in volume for consolidated and equity affiliates. *** This market indicator for European refining, calculated based on public market prices ($/b), uses a basket of crudes, petroleum product yields and variable costs representative of the European refining system of TotalEnergies. ((1) )Does not include oil, gas and LNG trading activities, respectively.
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