Total Says Lower Prices Will Impact Earnings

摘要

TotalEnergies said in a trading update that it expects its first-quarter results to be impacted by lower price realizations and the deconsolidation of its stake in Russian LNG producer Novatek. The French major said on Tuesday that its oil and gas production would benefit from the start of gas output at Block 10 in Oman and its acquisition of upstream assets in Abu Dhabi. But the decision late last year to deconsolidate Total's 19.4% equity stake in Novatek as of Jan. 1, 2023 will result in lower reported production.