# Total beat expectations with adjusted first-quarter net income of $5.4 billion.

*business · news · 2026-04-29 · Devdiscourse*

## Key points

- TotalEnergies' refining and chemicals earnings rose fivefold to $1.6 billion this quarter.
- France's Socialist Party proposed a 20% windfall profit tax targeting TotalEnergies' crisis earnings.
- TotalEnergies doubled share buybacks to $1.5 billion for the second quarter, reversing prior cuts.
- Total aims for a final investment decision on Namibia's Venus project by end-July 2024.

**Companies:** TotalEnergies, BP, Eni, Chevron
**Countries:** France, Iran, Saudi Arabia, Iraq, Qatar, Uganda

[Read the full story on Devdiscourse](https://www.devdiscourse.com/article/headlines/3891280-update-4-totalenergies-raises-dividend-buybacks-and-hackles-over-war-related-profits)

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