Key facts
- TotalEnergies' adjusted net income rose 68% to $6 billion in Q2 2026.
- The profit increase was driven by high oil prices and refining margins.
- Strong performance in crude oil and petroleum product trading activities also boosted earnings.
- The company increased its interim dividend to €0.90/share and authorized $1.5 billion in share buybacks.
- Equinor reported a 93% profit surge in its second quarter.
TotalEnergies' adjusted net income surged by 68% year-over-year to $6 billion in the second quarter of 2026, driven by elevated oil prices and refining margins. The French energy giant also benefited from strong trading activities in crude oil and petroleum products. Despite challenges accessing the Strait of Hormuz, its Exploration & Production segment posted robust results, with adjusted net operating income of $3.2 billion and cash flow of $5.8 billion, reflecting a significant increase in average oil selling prices.
The company's European Refining Margin Marker saw a substantial increase, rising 19% quarter-to-quarter and nearly tripling year-to-date. This strong financial performance enabled TotalEnergies to boost its second interim dividend to €0.90 per share and authorize up to $1.5 billion in share buybacks for the third quarter. The results follow a similar trend seen in Norway's Equinor, which reported a 93% profit increase due to soaring oil and gas prices amid ongoing geopolitical tensions.