Oil, LNG trading results seen in line with historical averages (Il Sole 24 Ore Radiocor) - Paris, 16 Apr - French energy group TotalEnergies said that in the first quarter hydrocarbon production is expected to be stable compared with the earlier three months, despite the Canadian oil sands assets disposals effective during the fourth quarter 2023, thanks to the growth in LNG production and the startups of Mero 2 in Brazil and Akpo West in Nigeria.

Integrated Power results are expected to be up quarter-on-quarter, thanks to growth in the business.

Downstream results will reflect the increase in refining margins, as the utilization rate of refineries during the first quarter 2024 was relatively stable compared to the fourth quarter 2023.

Due to the low volatility during the first quarter 2024, oil and LNG trading results are expected to be in line with their historical averages.

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(RADIOCOR) 16-04-24 13:36:18 (0416) 5 NNNN