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TotalEnergies posts 21% drop in annual profit, targets buybacks of $2 billion per quarter in 2025
French oil major TotalEnergies on Wednesday reported a sharp drop in full-year earnings, against a backdrop of lower crude prices and weak fuel demand. The oil and gas giant posted full-year 2024 adjusted net income of $18.3 billion, reflecting a 21% fall from $23.2 billion a year earlier. Analysts had expected TotalEnergies’ full-year 2024 adjusted net income to come in at $18.2 billion, according to an LSEG-compiled consensus. The energy major reported better-than-expected fourth-quarter adjusted net income of $4.4 billion, an 8% increase on the previous quarter. TotalEnergies said it was able to close out the ... (full story)