TotalEnergies, a “scapegoat” for energy prices according to its CEO

Patrick Pouyanné, CEO of TotalEnergies, spoke at the CERAWeek conference in Houston to defend the energy group's 2022 earnings.

Share:

TotalEnergies CEO Patrick Pouyanné defended the French energy group’s 2022 earnings at the CERAWeek energy conference in Houston, Texas. The executive said TotalEnergies had become a “scapegoat” in the energy price debate. He stressed that the group had played its part since the beginning of the war in Ukraine to ensure the energy security of France and Europe.

A major player in the import of liquefied natural gas

The TotalEnergies group has in particular promoted imports of liquefied natural gas (LNG) to Europe, especially from the United States where it is a major player, and has tried to compensate for the loss of Russian gas oil. Mr. Pouyanné explained that the authorities have asked them to do so without further clarification.

Unfounded accusations of superprofits

The CEO refuted public accusations that the group had generated superprofits from the war. According to him, the superprofits come from the investments that TotalEnergies has previously made. Last year, the group generated $20.5 billion in net income, the largest in its history, thanks mainly to soaring oil and gas prices.

Group commits to fuel price cap

In February, the Group committed to a €1.99 price cap for a liter of unleaded 95 gasoline or diesel at TotalEnergies’ 3,400 service stations in France. Mr. Pouyanné explained that the profits made by the group do not come from the increase in the price of fuel.

TotalEnergies is a major player in the energy sector. The group is defending its profits and asserts that it has played its part in ensuring the energy security of France and Europe. Mr. Pouyanné believes that capping fuel prices at TotalEnergies service stations in France demonstrates the Group’s commitment to meeting people’s expectations.

Iberdrola strengthens its financial position with a new five-year credit facility, signed with 32 banks, to support investments in power grids and renewable energy, particularly in the United States.
Kinder Morgan, Inc. reports strong financial results for the second quarter of 2025, with net profit up 24% and a project backlog boosted by major new investments in natural gas transportation.
CenterPoint Energy remains vigilant as Invest 93L approaches, deploying emergency plans and pursuing upgrades to its electrical infrastructure across the Greater Houston area.
The Georgia Public Service Commission approves the 2025 Integrated Resource Plan, which includes major investments in generation, storage and the grid to address the strong rise in electricity demand.
Norwegian industrial group Aker ASA achieved a strong surge in its share price in the first half, expanded its diversification into real estate, and executed major transactions despite global energy market volatility.
ADNOC announces the transfer of 24.9% of its shares in OMV to its subsidiary XRG, continuing the streamlining of its international assets and preparing the creation of Borouge Group International.
The SMI China Forum brings together international and Chinese leaders for dialogue on supply chains, investment and energy innovation, marking a major step in public-private sector cooperation.
Mining group BHP sees low-emission iron production in Australia as unprofitable, just as Canberra and Beijing announce closer cooperation to decarbonise the global steel industry.
Aker Carbon Capture distributed $162mn in dividends to its shareholders, a direct consequence of significant asset disposals and a substantial restructuring of its balance sheet in the second quarter of 2025.
Equinor ASA acquired 2.1 mn of its own shares on the Oslo Stock Exchange for a total of $201 mn between July 7 and 11, continuing the second phase of its 2025 buyback programme.
Norwegian group Aker Horizons transfers all its activities to a subsidiary of Aker ASA, sells major assets and prepares its new strategy after a half-year net loss of $220mn.
South Texas Electric Cooperative is seeking proposals for the acquisition or purchase of energy for 500 MW of dispatchable capacity, aiming to strengthen long-term supply security in the ERCOT region.
A federal funding package of $16mn aims to accelerate grid modernisation, renewable energy development and carbon capture in Canada’s Maritime provinces.
RTE and Nexans announce the creation of a recycling chain dedicated to aluminium from electrical cables, targeting 600 tonnes annually and covering the entire industrial cycle from collection to production.
Three scientists from China, the United States and Russia are laureates of the 2025 Global Energy Prize, honoured for their work on high-voltage power lines, fuel-cell catalysts and pulsed energy technologies.
Rio Tinto’s new CEO inherits a significant stock market discount and will need to overcome major regulatory, operational, and financial hurdles to swiftly restore the company's appeal to international investors, according to a Wood Mackenzie analysis.
Westbridge Renewable Energy enters digital infrastructure market with Fontus, a 380 MW data centre campus in Colorado, positioned to meet strong growth in US cloud and artificial intelligence services.
Offshore drilling company Borr Drilling Limited announced the completion of an initial tranche issuance of 30 million ordinary shares out of the planned 50 million, raising $61.5mn towards the total goal of $102.5mn.
EDF announces a new internal organization with key executive appointments to enhance decision-making efficiency and expedite the revival of nuclear and hydroelectric projects central to its industrial strategy.
Rubis announces half-year results of its liquidity agreement managed by Exane BNP Paribas, totalling 241,328 shares exchanged for an aggregate amount of €6.5mn in the first half of 2025.