{"success":true,"data":{"pressRelease":{"id":"169752","rtpr_id":"nBw6p7B6Ta-20261015","ticker":"TTE","exchange":"NYSE","all_tickers":["TTE","TTEF"],"title":"REG-TotalEnergies SE Trading Statement","author":"Business Wire","published_at":"2026-10-15T06:00:01.878Z","article_body":"Trading Statement\n\n \n\nThe main indicators, estimated financial information and key elements\nimpacting TotalEnergies’ (Paris:TTE) (LSE:TTE) (NYSE:TTE) third quarter 2026\naggregates are shown below:\n\nMain indicators\n                                                              3Q26       2Q26       1Q26      4Q25      3Q25  \n €/$                                                          1.15       1.16       1.17      1.16      1.17  \n Brent                                          ($/b)         97.0       103.8      81.1      63.7      69.1  \n TTF                                            ($/Mbtu)      21.5       15.6       13.7      10.3      11.3  \n Average liquids price * ((1))                  ($/b)         87.1       91.6       73.7      61.4      66.5  \n Average gas price * ((1))                      ($/Mbtu)      7.00       5.55       5.59      5.11      5.50  \n Average LNG price ** ((1))                     ($/Mbtu)      12.28      10.20      8.48      8.48      8.91  \n European Refining Margin Marker (ERM) ***      ($/b)         33.2       13.5       11.4      11.4      8.4   \n * Sales in $ / Sales in volume for consolidated affiliates.                                                  \n ** Sales in $ / Sales in volume for consolidated and equity affiliates.                                      \n *** This market indicator for European refining, calculated based on public                                  \n market prices ($/b), uses a basket of crudes, petroleum product yields and                                   \n variable costs representative of the European refining system of                                             \n TotalEnergies.                                                                                               \n ((1) )Does not include oil, gas and LNG trading activities, respectively.                                    \n\n\nMain elements impacting the 3(rd) quarter 2026 aggregates\n\n\n * Hydrocarbon production is expected to increase, reaching 2.45-2.50 Mboe/d,\nbenefiting from a reduced impact of the Middle East conflict, which is\nestimated to be only around 5% of the Company’s overall production.\nExcluding Middle East impact, the production is expected to grow more than 4%\ncompared to the third quarter of 2025, above the annual guidance of 3%.\n\n * Exploration & Production results are expected to reflect production growth\nand the sensitivity to lower oil prices and higher gas prices compared to the\nprevious quarter.\n\n * Integrated LNG results are expected to rise sharply, driven by the 20%\nincrease of average LNG price since last quarter and by the outperformance of\nLNG and gas trading activities in a bull market, driven by the prolonged\nconflict in the Strait of Hormuz and expectation for strong winter demand.\n\n * Downstream results and cash flow are expected to reach exceptional levels,\nwith a very sharp increase of $2 billion for Refining & Chemicals cash\nflow compared to the second quarter. The 10% refining throughput increase\nenabled the Company to fully capture historically high refining margins in\nEurope and worldwide. Oil trading activities continue to outperform on a level\nconsistent with the previous two quarters. Marketing & Services is\nexpected to also maintain its strong performance.\n\n * Integrated Power results and cash flow are expected to benefit from the\nexpected contribution from TTEP (JV between EPH and TotalEnergies) over a full\nquarter, with a cash flow anticipated between $750 and $800 million.\n\n * A positive working capital contribution of around $3 billion is anticipated\nover the quarter.\n\n2026 Sensitivities*\n                                            Change                 Estimated impact on adjusted net operating income      Estimated impact on cash flow from operations  \n Dollar                                     +/- 0.1 $ per €        -/+ 0.1 B$                                             ~0 B$                                          \n Average liquids price **                   +/- 10 $/b             +/- 2.3 B$                                             +/- 2.8 B$                                     \n European gas price – TTF                   +/- 2 $/Mbtu           +/- 0.4 B$                                             +/- 0.4 B$                                     \n European Refining Margin Marker (ERM)      +/- 1 $/b              +/- 0.3 B$                                             +/- 0.4 B$                                     \n * Sensitivities are revised once per year upon publication of the previous                                                                                              \n year’s fourth quarter results. Sensitivities are estimates based on                                                                                                     \n assumptions about TotalEnergies’ portfolio in 2026. Actual results could                                                                                                \n vary significantly from estimates based on the application of these                                                                                                     \n sensitivities. The impact of the $-€ sensitivity on adjusted net operating                                                                                              \n income is essentially attributable to Refining & Chemicals.                                                                                                             \n ** In a 60-70 $/b Brent environment.                                                                                                                                    \n\n\nDisclaimer\n\nUnless otherwise stated, the terms “TotalEnergies”, “TotalEnergies\ncompany” and “Company” in this document are used to designate\nTotalEnergies SE and the consolidated entities directly or indirectly\ncontrolled by TotalEnergies SE. Likewise, the words “we”, “us” and\n“our” may also be used to refer to these entities or their employees. The\nentities in which TotalEnergies SE directly or indirectly owns a shareholding\nare separate and independent legal entities. The term “Corporation” as\nused in this document exclusively refers to TotalEnergies SE, which is the\nparent company of the Company.\n\nThe data presented in this document is based on TotalEnergies’ internal\npreliminary reporting and is not audited. This data is not intended to be a\ncomprehensive summary of all items that will affect TotalEnergies SE’s\nresults or to provide an estimate of 2026 quarterly results. Actual results\nmay vary. To the extent permitted by law, TotalEnergies SE disclaims all\nliability from the use of this data.\n\nThis document may contain forward-looking statements (including\nforward-looking statements within the meaning of the Private Securities\nLitigation Reform Act of 1995), notably with respect to the financial\ncondition, results of operations, business activities and strategy of\nTotalEnergies and expectations regarding returns to stockholders, including\nwith respect to future dividends and share buybacks. This document may also\ncontain statements regarding the outlook, objectives, areas of improvement,\ngoals and ambitions of TotalEnergies SE, including with respect to climate\nchange and carbon neutrality. An ambition expresses an outcome desired by\nTotalEnergies, it being specified that the means to be deployed do not depend\nsolely on TotalEnergies.\n\nThese forward-looking statements may be identified by the use of the future or\nconditional tense or forward-looking words such as “will”, “should”,\n“could”, “would”, “may”, “likely”, “might”,\n“envisions”, “intends”, “anticipates”, “believes”,\n“estimates”, “considers”, “plans”, “expects”, “thinks”,\n“targets”, “has an ambition to”, “commits”, “aims” or similar\nterminology. Such forward-looking statements included in this document are\nbased on economic data, estimates and assumptions prepared in a given\neconomic, competitive and regulatory environment and considered to be\nreasonable by TotalEnergies as of the date of publication of this document.\n\nThese forward-looking statements are not historical data and should not be\ninterpreted as assurances that the outlook, objectives, goals or ambitions\nannounced will be achieved. They are uncertain and may change or be modified\nwith a significant difference between the actual results and those initially\nestimated, due to the uncertainties notably related to the economic,\nfinancial, competitive and regulatory environment, or due to the occurrence of\nrisk factors, such as, notably, fluctuations in the price of crude oil and\nnatural gas, changes in demand and prices of petroleum products, changes in\nproduction levels and estimates of reserves, the ability to achieve cost\nreductions and operating efficiencies without unduly disrupting business\noperations, changes in laws and regulations including those related to the\nenvironment and climate, currency fluctuations, technological innovations,\nmeteorological conditions and events, as well as socio-demographic, economic\nand political developments, changes in market conditions, loss of market share\nand changes in consumer preferences, pandemics, and other risk factors\ndescribed in the Corporation’s regulatory filings, including its Universal\nRegistration Document filed with the French Autorité des Marchés Financiers,\nits Annual Report on Form 20-F filed with the United States Securities and\nExchange Commission (“SEC”) and its other reports filed or furnished with\nthe SEC.\n\nReaders are cautioned not to consider forward-looking statements as certain,\nbut as an expression of the Corporation’s views only as of the date this\ndocument is published.\n\nTotalEnergies SE and its subsidiaries undertake no obligation, make no\ncommitment and expressly disclaim any responsibility to investors or any\nstakeholder to update or revise, particularly as a result of new information\nor future events, any forward-looking information or statements, objectives or\ntrends contained in this document. In addition, the Corporation has not\nverified, and is under no obligation to verify any third-party data contained\nin this document or used in the estimates and assumptions or, more generally,\nforward-looking statements published in this document. The information on risk\nfactors that could have a significant adverse effect on TotalEnergies’\nbusiness, financial condition, including its operating income and cash flow,\nreputation, outlook or the value of financial instruments issued by\nTotalEnergies is provided in the most recent version of the Universal\nRegistration Document which is filed by TotalEnergies SE with the French\nAutorité des Marchés Financiers and the annual report on Form 20-F filed\nwith the SEC.\n\nAdditionally, the developments of climate change and other environmental or\nsocial issues in this document are based on various frameworks and the\ninterests of various stakeholders which are subject to evolve independently of\nour will. Moreover, our disclosures on such issues, including disclosures on\nclimate change and other environmental or social issues, may include\ninformation that is not necessarily “material” under US securities laws\nfor SEC reporting purposes or under applicable securities law.\n\nIn addition to IFRS measures, certain alternative performance indicators are\npresented, such as performance indicators excluding the adjustment items\ndescribed below (adjusted net operating income, adjusted net income), net cash\nflow, free cash flow after organic investments, normalized gearing, return on\nequity (ROE), return on average capital employed (ROACE), gearing ratio, cash\nflow from operations excluding working capital, debt adjusted cash flow, and\nthe payout ratio. These indicators are meant to facilitate the analysis of the\nfinancial performance of TotalEnergies and the comparison of income between\nperiods. They allow investors to track the measures used internally to manage\nand measure the performance of TotalEnergies.\n\nFinancial information by business segment is reported in accordance with the\ninternal reporting system and shows internal segment information that is used\nto manage and measure the performance of TotalEnergies. TotalEnergies measures\nperformance at the segment level on the basis of adjusted net operating\nincome.\n\nThe adjusted results (adjusted net operating income, adjusted net income) are\ndefined as replacement cost results, adjusted for special items, excluding the\neffect of changes in fair value. For further details on the adjustment items,\nplease refer to the last published earnings statement and notes to the\nconsolidated financial statements.\n\nEuro amounts presented for the adjusted fully-diluted earnings per share\nrepresent dollar amounts converted at the average euro-dollar (€-$) exchange\nrate for the applicable period and are not the result of financial statements\nprepared in euros.\n\nCautionary Note to U.S. Investors – U.S. investors are urged to consider\nclosely the disclosure in the Form 20-F of TotalEnergies SE, File N° 1-10888,\navailable from us at 2, place Jean Millier – Arche Nord Coupole/Regnault –\n92078 Paris-La Défense Cedex, France, or at the Corporation’s website\ntotalenergies.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Ftotalenergies.com&esheet=54622497&newsitemid=20261014248263&lan=en-US&anchor=totalenergies.com&index=1&md5=ff92520413d24a1317d022a42bd1d5c1)\n. The Form 20-F is also available from the SEC by calling 1-800-SEC-0330 or on\nthe SEC’s website.\n\nTotalEnergies Investor Relations\n\n+33 (0)1 47 44 46 46\n\nir@totalenergies.com (mailto:ir@totalenergies.com)\n\nTotalEnergies Media Relations\n\n+33 (0)1 47 44 46 99\n\npresse@totalenergies.com (mailto:presse@totalenergies.com)\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261014248263/en/\n(https://www.businesswire.com/news/home/20261014248263/en/)\n\nTotalEnergies\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw6p7B6Ta-20261015","title":"REG-TotalEnergies SE Trading Statement","author":"Business Wire","ticker":"TTE","created":"2026-10-15T06:00:01.878Z","tickers":["TTE","TTEF"],"exchange":"NYSE","article_body":"Trading Statement\n\n \n\nThe main indicators, estimated financial information and key elements\nimpacting TotalEnergies’ (Paris:TTE) (LSE:TTE) (NYSE:TTE) third quarter 2026\naggregates are shown below:\n\nMain indicators\n                                                              3Q26       2Q26       1Q26      4Q25      3Q25  \n €/$                                                          1.15       1.16       1.17      1.16      1.17  \n Brent                                          ($/b)         97.0       103.8      81.1      63.7      69.1  \n TTF                                            ($/Mbtu)      21.5       15.6       13.7      10.3      11.3  \n Average liquids price * ((1))                  ($/b)         87.1       91.6       73.7      61.4      66.5  \n Average gas price * ((1))                      ($/Mbtu)      7.00       5.55       5.59      5.11      5.50  \n Average LNG price ** ((1))                     ($/Mbtu)      12.28      10.20      8.48      8.48      8.91  \n European Refining Margin Marker (ERM) ***      ($/b)         33.2       13.5       11.4      11.4      8.4   \n * Sales in $ / Sales in volume for consolidated affiliates.                                                  \n ** Sales in $ / Sales in volume for consolidated and equity affiliates.                                      \n *** This market indicator for European refining, calculated based on public                                  \n market prices ($/b), uses a basket of crudes, petroleum product yields and                                   \n variable costs representative of the European refining system of                                             \n TotalEnergies.                                                                                               \n ((1) )Does not include oil, gas and LNG trading activities, respectively.                                    \n\n\nMain elements impacting the 3(rd) quarter 2026 aggregates\n\n\n * Hydrocarbon production is expected to increase, reaching 2.45-2.50 Mboe/d,\nbenefiting from a reduced impact of the Middle East conflict, which is\nestimated to be only around 5% of the Company’s overall production.\nExcluding Middle East impact, the production is expected to grow more than 4%\ncompared to the third quarter of 2025, above the annual guidance of 3%.\n\n * Exploration & Production results are expected to reflect production growth\nand the sensitivity to lower oil prices and higher gas prices compared to the\nprevious quarter.\n\n * Integrated LNG results are expected to rise sharply, driven by the 20%\nincrease of average LNG price since last quarter and by the outperformance of\nLNG and gas trading activities in a bull market, driven by the prolonged\nconflict in the Strait of Hormuz and expectation for strong winter demand.\n\n * Downstream results and cash flow are expected to reach exceptional levels,\nwith a very sharp increase of $2 billion for Refining & Chemicals cash\nflow compared to the second quarter. The 10% refining throughput increase\nenabled the Company to fully capture historically high refining margins in\nEurope and worldwide. Oil trading activities continue to outperform on a level\nconsistent with the previous two quarters. Marketing & Services is\nexpected to also maintain its strong performance.\n\n * Integrated Power results and cash flow are expected to benefit from the\nexpected contribution from TTEP (JV between EPH and TotalEnergies) over a full\nquarter, with a cash flow anticipated between $750 and $800 million.\n\n * A positive working capital contribution of around $3 billion is anticipated\nover the quarter.\n\n2026 Sensitivities*\n                                            Change                 Estimated impact on adjusted net operating income      Estimated impact on cash flow from operations  \n Dollar                                     +/- 0.1 $ per €        -/+ 0.1 B$                                             ~0 B$                                          \n Average liquids price **                   +/- 10 $/b             +/- 2.3 B$                                             +/- 2.8 B$                                     \n European gas price – TTF                   +/- 2 $/Mbtu           +/- 0.4 B$                                             +/- 0.4 B$                                     \n European Refining Margin Marker (ERM)      +/- 1 $/b              +/- 0.3 B$                                             +/- 0.4 B$                                     \n * Sensitivities are revised once per year upon publication of the previous                                                                                              \n year’s fourth quarter results. Sensitivities are estimates based on                                                                                                     \n assumptions about TotalEnergies’ portfolio in 2026. Actual results could                                                                                                \n vary significantly from estimates based on the application of these                                                                                                     \n sensitivities. The impact of the $-€ sensitivity on adjusted net operating                                                                                              \n income is essentially attributable to Refining & Chemicals.                                                                                                             \n ** In a 60-70 $/b Brent environment.                                                                                                                                    \n\n\nDisclaimer\n\nUnless otherwise stated, the terms “TotalEnergies”, “TotalEnergies\ncompany” and “Company” in this document are used to designate\nTotalEnergies SE and the consolidated entities directly or indirectly\ncontrolled by TotalEnergies SE. Likewise, the words “we”, “us” and\n“our” may also be used to refer to these entities or their employees. The\nentities in which TotalEnergies SE directly or indirectly owns a shareholding\nare separate and independent legal entities. The term “Corporation” as\nused in this document exclusively refers to TotalEnergies SE, which is the\nparent company of the Company.\n\nThe data presented in this document is based on TotalEnergies’ internal\npreliminary reporting and is not audited. This data is not intended to be a\ncomprehensive summary of all items that will affect TotalEnergies SE’s\nresults or to provide an estimate of 2026 quarterly results. Actual results\nmay vary. To the extent permitted by law, TotalEnergies SE disclaims all\nliability from the use of this data.\n\nThis document may contain forward-looking statements (including\nforward-looking statements within the meaning of the Private Securities\nLitigation Reform Act of 1995), notably with respect to the financial\ncondition, results of operations, business activities and strategy of\nTotalEnergies and expectations regarding returns to stockholders, including\nwith respect to future dividends and share buybacks. This document may also\ncontain statements regarding the outlook, objectives, areas of improvement,\ngoals and ambitions of TotalEnergies SE, including with respect to climate\nchange and carbon neutrality. An ambition expresses an outcome desired by\nTotalEnergies, it being specified that the means to be deployed do not depend\nsolely on TotalEnergies.\n\nThese forward-looking statements may be identified by the use of the future or\nconditional tense or forward-looking words such as “will”, “should”,\n“could”, “would”, “may”, “likely”, “might”,\n“envisions”, “intends”, “anticipates”, “believes”,\n“estimates”, “considers”, “plans”, “expects”, “thinks”,\n“targets”, “has an ambition to”, “commits”, “aims” or similar\nterminology. Such forward-looking statements included in this document are\nbased on economic data, estimates and assumptions prepared in a given\neconomic, competitive and regulatory environment and considered to be\nreasonable by TotalEnergies as of the date of publication of this document.\n\nThese forward-looking statements are not historical data and should not be\ninterpreted as assurances that the outlook, objectives, goals or ambitions\nannounced will be achieved. They are uncertain and may change or be modified\nwith a significant difference between the actual results and those initially\nestimated, due to the uncertainties notably related to the economic,\nfinancial, competitive and regulatory environment, or due to the occurrence of\nrisk factors, such as, notably, fluctuations in the price of crude oil and\nnatural gas, changes in demand and prices of petroleum products, changes in\nproduction levels and estimates of reserves, the ability to achieve cost\nreductions and operating efficiencies without unduly disrupting business\noperations, changes in laws and regulations including those related to the\nenvironment and climate, currency fluctuations, technological innovations,\nmeteorological conditions and events, as well as socio-demographic, economic\nand political developments, changes in market conditions, loss of market share\nand changes in consumer preferences, pandemics, and other risk factors\ndescribed in the Corporation’s regulatory filings, including its Universal\nRegistration Document filed with the French Autorité des Marchés Financiers,\nits Annual Report on Form 20-F filed with the United States Securities and\nExchange Commission (“SEC”) and its other reports filed or furnished with\nthe SEC.\n\nReaders are cautioned not to consider forward-looking statements as certain,\nbut as an expression of the Corporation’s views only as of the date this\ndocument is published.\n\nTotalEnergies SE and its subsidiaries undertake no obligation, make no\ncommitment and expressly disclaim any responsibility to investors or any\nstakeholder to update or revise, particularly as a result of new information\nor future events, any forward-looking information or statements, objectives or\ntrends contained in this document. In addition, the Corporation has not\nverified, and is under no obligation to verify any third-party data contained\nin this document or used in the estimates and assumptions or, more generally,\nforward-looking statements published in this document. The information on risk\nfactors that could have a significant adverse effect on TotalEnergies’\nbusiness, financial condition, including its operating income and cash flow,\nreputation, outlook or the value of financial instruments issued by\nTotalEnergies is provided in the most recent version of the Universal\nRegistration Document which is filed by TotalEnergies SE with the French\nAutorité des Marchés Financiers and the annual report on Form 20-F filed\nwith the SEC.\n\nAdditionally, the developments of climate change and other environmental or\nsocial issues in this document are based on various frameworks and the\ninterests of various stakeholders which are subject to evolve independently of\nour will. Moreover, our disclosures on such issues, including disclosures on\nclimate change and other environmental or social issues, may include\ninformation that is not necessarily “material” under US securities laws\nfor SEC reporting purposes or under applicable securities law.\n\nIn addition to IFRS measures, certain alternative performance indicators are\npresented, such as performance indicators excluding the adjustment items\ndescribed below (adjusted net operating income, adjusted net income), net cash\nflow, free cash flow after organic investments, normalized gearing, return on\nequity (ROE), return on average capital employed (ROACE), gearing ratio, cash\nflow from operations excluding working capital, debt adjusted cash flow, and\nthe payout ratio. These indicators are meant to facilitate the analysis of the\nfinancial performance of TotalEnergies and the comparison of income between\nperiods. They allow investors to track the measures used internally to manage\nand measure the performance of TotalEnergies.\n\nFinancial information by business segment is reported in accordance with the\ninternal reporting system and shows internal segment information that is used\nto manage and measure the performance of TotalEnergies. TotalEnergies measures\nperformance at the segment level on the basis of adjusted net operating\nincome.\n\nThe adjusted results (adjusted net operating income, adjusted net income) are\ndefined as replacement cost results, adjusted for special items, excluding the\neffect of changes in fair value. For further details on the adjustment items,\nplease refer to the last published earnings statement and notes to the\nconsolidated financial statements.\n\nEuro amounts presented for the adjusted fully-diluted earnings per share\nrepresent dollar amounts converted at the average euro-dollar (€-$) exchange\nrate for the applicable period and are not the result of financial statements\nprepared in euros.\n\nCautionary Note to U.S. Investors – U.S. investors are urged to consider\nclosely the disclosure in the Form 20-F of TotalEnergies SE, File N° 1-10888,\navailable from us at 2, place Jean Millier – Arche Nord Coupole/Regnault –\n92078 Paris-La Défense Cedex, France, or at the Corporation’s website\ntotalenergies.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Ftotalenergies.com&esheet=54622497&newsitemid=20261014248263&lan=en-US&anchor=totalenergies.com&index=1&md5=ff92520413d24a1317d022a42bd1d5c1)\n. The Form 20-F is also available from the SEC by calling 1-800-SEC-0330 or on\nthe SEC’s website.\n\nTotalEnergies Investor Relations\n\n+33 (0)1 47 44 46 46\n\nir@totalenergies.com (mailto:ir@totalenergies.com)\n\nTotalEnergies Media Relations\n\n+33 (0)1 47 44 46 99\n\npresse@totalenergies.com (mailto:presse@totalenergies.com)\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261014248263/en/\n(https://www.businesswire.com/news/home/20261014248263/en/)\n\nTotalEnergies\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-10-15T06:00:01.942363252Z","server_sent_at_ms":1792044001942},"received_at":"2026-10-15T06:00:01.996Z","source_url":"https://www.businesswire.com/news/home/20261014248263/en/"},"analysis":{"id":"157973","press_release_id":"169752","analysis_json":{"industry":{"label":"Oil, Gas & Consumable Fuels","sector":"Energy"},"redFlags":["results driven by conflict-inflated oil, gas and refining margins — benefit may reverse if Strait of Hormuz tensions ease","Middle East conflict still affects ~5% of overall production","trading statement is unaudited, preliminary and not a full results estimate"],"eventType":"guidance_update","narrative":"TotalEnergies' Q3 2026 trading statement points to a sharp sequential earnings improvement, with Brent averaging $97.0/b and the European Refining Margin Marker jumping to $33.2/b from $13.5/b in Q2.\n\nHydrocarbon production is guided to 2.45-2.50 Mboe/d, up more than 4% YoY excluding the Middle East impact, above the 3% annual guidance. Integrated LNG results are expected to rise sharply on a 20% QoQ LNG price increase and strong trading outperformance.\n\nDownstream is the standout: Refining & Chemicals cash flow should rise ~$2 billion QoQ on historically high refining margins and a 10% throughput increase, with ~$3 billion of positive working capital and $750-800M from the TTEP JV adding further cash flow support.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Refining-margin windfall: TTE flags exceptional downstream cash flow and a $2B QoQ R&C jump ahead of Q3 results."},"keyFigures":{"guidance":"Q3 2026: hydrocarbon production 2.45-2.50 Mboe/d; production ex-Middle East up >4% YoY vs 3% annual guidance; Refining & Chemicals cash flow up ~$2B QoQ; TTEP cash flow $750-800M; positive working capital contribution ~$3B","customDimensions":{"erm_usd_b":33.2,"ttf_usd_mbtu":21.5,"brent_price_usd_b":97,"ttep_cash_flow_usd":"$750-800M","avg_gas_price_usd_mbtu":7,"avg_lng_price_usd_mbtu":12.28,"avg_liquids_price_usd_b":87.1,"hydrocarbon_production_mboed":"2.45-2.50","rc_cash_flow_increase_qoq_usd":"~$2B","working_capital_contribution_usd":"~$3B"}},"quotedText":"Downstream results and cash flow are expected to reach exceptional levels, with a very sharp increase of $2 billion for Refining & Chemicals cash flow compared to the second quarter.","namedEntities":{"people":[],"products":["TTEP"],"companies":[{"name":"TotalEnergies SE","ticker":"TTE","relationship":"filer"},{"name":"EPH","relationship":"JV partner (TTEP)"}],"dollarAmounts":[{"amount":"$2 billion","context":"expected increase in Refining & Chemicals cash flow vs Q2 2026"},{"amount":"$750 and $800 million","context":"anticipated TTEP JV cash flow for the quarter"},{"amount":"$3 billion","context":"anticipated positive working capital contribution"}]},"materialImpact":{"score":4,"reasoning":"Issuer pre-announcement of Q3 2026 aggregates pointing to sharply higher LNG and refining results: R&C cash flow up ~$2 billion QoQ, ERM at $33.2/b (vs $8.4/b a year ago), production growth >4% ex-Middle East, and ~$3 billion positive working capital contribution."},"tickerRelevance":{"others":[],"primary":"TTE"},"globalImportance":55,"audienceRelevance":45,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"mega-cap integrated energy","eventGravity":"quarterly trading update with large QoQ swing","sectorWeight":"energy macro sensitivity","householdBrandBoost":true}},"event_type":"guidance_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":4,"narrative":"TotalEnergies' Q3 2026 trading statement points to a sharp sequential earnings improvement, with Brent averaging $97.0/b and the European Refining Margin Marker jumping to $33.2/b from $13.5/b in Q2.\n\nHydrocarbon production is guided to 2.45-2.50 Mboe/d, up more than 4% YoY excluding the Middle East impact, above the 3% annual guidance. 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