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TotalEnergies: the oil giant reaps a record profit of 19.8 billion euros in 2023
TotalEnergies: the oil giant reaps a record profit of 19.8 billion euros in 2023 – (FRANCEINFO)
If TotalEnergies recalls that the group invests in renewables, its profits still mainly come from fossil fuels, namely gas and oil.
In 2023, the oil giant TotalEnergies earned a record profit of 19.8 billion euros. These results coincide with a fuel price capped at 1.99 euros per liter. This financial effort is far from destabilizing the company’s accounts. To avoid tarnishing its image, TotalEnergies points out that the group invests in renewable energy, such as wind or solar power. In fact, its profits mainly come from fossil fuels. Gas accounts for 48% of its sales and oil 44%.
Fossil projects criticized by NGOs
Hydrocarbons remain at the heart of TotalEnergies projects, deemed harmful by an NGO. “Fossil projects are a climate problem, but they are also a human rights problem”, alerts Edina Ifticène, fossil fuels campaign manager at Greenpeace France. On Wednesday February 7, a parliamentary committee examined the activities of TotalEnergies to ensure compliance with France’s climate objectives.
Among our sources
Results published by TotalEnergies
Patrice Geoffron, professor of economics at Paris Dauphine University and director of the Center for Geopolitics of Energy and Raw Materials
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