TotalEnergies makes record profit in 2022

TotalEnergies makes record profit in 2022

France

COURBEVOIE, February 9, 2023 – TotalEnergies has posted record profits of USD 36.2 million in 2022, the French energy giant announced on Wednesday.

The company’s earnings before interest, taxes, depreciation and amortisation rose 69% year-on-year to USD 77.5 billion.

 

TotalEnergies made profits of USD 18 billion in 2021.

TotalEnergies also released that it would be spending 50% of its 2023 exploration budget on Namibia, which saw what is considered the world’s largest oil and gas discovery of the year at the Venus-1 exploration well in February 2022.

The exploration round will utilise the semi-submersible Deepsea Mira rig and Tungsten Explorer drillship in Block 2912 and Block 2913B in the Orange Basin.

High oil prices have cause other energy giants to post record earnings, including ExxonMobil, Shell, BP and Chevron.