TotalEnergies 2Q23 Results | Climate Transition Analysis

Quarterly results
Written By Rohan Bowater

Weaker oil and gas prices, refining margins and trading contributed to lower 2Q23 results for TotalEnergies but Integrated Power is showing signs that it could become a promising cash engine.  

Key findings

  • Better performance in Integrated Power with a ROACE of 10.1% for the last 12 months.

  • Renewables pipeline is tracking well against TotalEnergies’ 100GW capacity target, reaching 75GW this quarter, up 6% from 1Q23.

  • Disclosed scope 1, 2, and 3 emissions during 2Q23 were stagnant on 1Q23 levels. 

  • Oil and gas production increased 2% year-on-year. 

Rohan Bowater
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