TotalEnergies posts record profits, fueled by global diesel market turmoil

TotalEnergies' CEO Patrick Pouyanné expressed optimism about the disruptions in global energy markets, highlighting the company's significant profits amid the ongoing Middle East conflict. In Q3, TotalEnergies reported a net profit of $8.3 billion, a 124% increase from the previous year, following a strong first half with $11.2 billion in profits. The surge in oil prices and refining margins, particularly for diesel, significantly contributed to these earnings, with the refining division achieving record profits of $3.6 billion.