TotalEnergies SE

First Quarter 2024: Main Indicators - Seite 2

⁽¹⁾ Does not include oil, gas and LNG trading activities, respectively.

Main elements impacting the quarter aggregates

• Hydrocarbon production is expected to be stable quarter-on-quarter, above 2.45 Mboe/d, 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.

2024 Sensitivities*

 

 

 

 

 

Change

Estimated impact on adjusted net operating income

Estimated impact on cash flow from operations

Dollar

+/- 0.1 $ per €

-/+ 0.1 B$

~0 B$

Average liquids price **

+/- 10 $/b

+/- 2.3 B$

+/- 2.8 B$

European gas price – NBP / TTF

+/- 2 $/Mbtu

+/- 0.4 B$

+/- 0.4 B$

European Refining Margin Marker (ERM)

+/- 10 $/t

+/- 0.4 B$

+/- 0.5 B$

 

* Sensitivities are revised once per year upon publication of the previous year’s fourth quarter results. Sensitivities are estimates based on assumptions about TotalEnergies’ portfolio in 2024. Actual results could vary significantly from estimates based on the application of these sensitivities. The impact of the $-€ sensitivity on adjusted net operating income is essentially attributable to Refining & Chemicals.