PARIS (Reuters) – TotalEnergies said on Wednesday its net adjusted income fell to $5.2 billion in the fourth quarter of 2023, down 31% compared to the same period a year ago, mainly due to lower oil prices and refining margins.
The oil and gas group recorded an an adjusted EBITDA of $11.7 billion, down 27% over the October-December period compared to the same time in 2022, and production of 2.483 million barrels per day, down 12% compared to fourth quarter 2022.
Its adusted net income reached $23.2 billion for the full year, down 36% from 2022, due to oil prices falling from their peak at the beginning of Russia’s invasion of Ukraine.
TotalEnergies proposed a dividend of 3.01 euros per share for 2023 up 7.1% compared to 2022.
The group expects net investments of $17 billion to $18 billion for 2024, of which $5 billion will be dedicated to its integrated power section.
(Reporting by Forrest Crellin and Benjamin Mallet; editing by Matt Scuffham)
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