TotalEnergies has reported that its net income fell by 26% in 2024 to US$15.8bn, mainly because of a sharp decline in refinery margins after two exceptional years. Its hydrocarbon production fell by 2% in 2024 to 2,434 kboe/d, with 1,468 kb/d of liquids (-5%) and 5,211 mcf/d or 53.7 bcm of gas (+4%). The company sold 39.8 Mt of LNG (-10% due to a lower demand in Europe), including 15.5 Mt from its own production (+1%). Its refinery throughput increased by 2% to 1,472 mb/d in 2024, and its petroleum products sales fell by 2% to 1,342 mb/d (-3% in Europe and -1% in the rest of the world).
TotalEnergies’ power generation grew by 23% in 2024 to 41 TWh, with 63% of renewables (26 TWh, up by 38%) and 37% of gas (15 TWh, +4%). Its installed capacity increased by 24% to 21.5 GW (+4 GW, with half of the growth coming from renewables and half from gas flexible capacities). The group sold 50.7 TWh of power (-3%) to 6.1 m clients (+2%) and 98.6 TWh of gas (-2%) to 2.8 m clients.