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TotalEnergies said it would resume share repurchases of up to $1.5 billion.
TotalEnergies will repurchase up to $1.5 billion in shares during the second quarter.
KEY POINTS
- The company’s net profit doubled to $5.81 billion, beating analyst expectations by $600 million.
- Facilities responsible for 15% of TotalEnergies’ production are shut down due to Middle East conflict.
- Restarting Middle East production could take two to three months once initiated, with no timeline yet.
- Output remained stable as new projects in Brazil and Libya compensated for losses from production shutdowns.
COMPANIES
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