TotalEnergies Sees Stronger Upstream Results for Q1 Amid Higher Oil Prices

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TotalEnergies (TTE) said Thursday that Q1 exploration and production results are expected to rise significantly, supported by higher oil prices and contributions from new projects.

Integrated liquefied natural gas results are also projected to be significantly higher sequentially, driven by a 10% increase in production and strong trading activity.

Downstream results are expected to improve as well, supported by higher refining utilization rate and robust trading.

TotalEnergies expects a working capital increase of about $5 billion for the quarter.

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