TotalEnergies expects a slight increase in hydrocarbon production for the fourth quarter, while refinery margins remain under pressure. The French energy company announced on Thursday that production is expected to be within the forecasted range of 2.4 to 2.45 million barrels of oil equivalent per day. However, a decline in oil prices by five US dollars per barrel will impact financial performance. In the third quarter, TotalEnergies recorded a production of 2.4 million barrels of oil equivalent per day.

Higher gas prices are expected to partly offset the negative effect of falling oil prices – a development analysts expect across the industry. The company's integrated LNG division is expected to record production growth of six percent in the fourth quarter, while competitor Shell recently warned of significantly lower results in its gas division.

However, margins in the refining business remain weak. TotalEnergies states that the European Refining Margin Marker was $25.9 per ton in the fourth quarter, an increase from $15.4 in the previous quarter. Despite this recovery, the value remains significantly below last year's level of $52.6 per ton. Competitors BP and Shell have also reported weak margins in their downstream businesses in recent weeks.

TotalEnergies' Integrated Power Business Expected to Achieve Results Between 500 and 600 Million USD in the Fourth Quarter.

At the European stock exchanges, investors reacted positively to the preliminary figures. TotalEnergies' stock increased by 1.8 percent in early trading to 56.96 euros.