TotalEnergies announces a gigantic profit of 14 billion euros for 2021

These profits are the highest for at least fifteen years. Earnings group adjusted net is multiplied by 4.4 compared to 2020.

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The company is benefiting from the sharp rise in hydrocarbon prices. TotalEnergies has made a huge net profit of 16 billion dollars (around 14 billion euros) in 2021, the French energy giant announced on Thursday (February 10th). These profits, the highest for at least fifteen years, follow a loss of 7.2 billion dollars (around 6.1 billion euros) in 2020 due to the Covid-19 crisis, which had weighed on oil prices, and depreciations.

TotalEnergies benefited from the surge in hydrocarbon prices last year against a backdrop of global economic recovery and still limited production in some countries. A barrel of Brent from the North Sea was thus worth 70.9 dollars (62.10 euros) per barrel in 2021, against only 41.80 dollars (36.70 euros) the previous year.

These huge profits, in the midst of the energy crisis with rising costs for households, have been the subject of criticism even before their publication. The environmental candidate Yannick Jadot denounced profits on Wednesday “on the backs of French women and men”. “You just have to take them, so much the better”, launched the rebellious leader Jean-Luc Mélenchon in a meeting. Faced with the current outbreak, TotalEnergies has unveiled a pump discount at its stations located in rural areas in France, as well as a “gas check” of 100 euros its gas customers in a situation of “fuel poverty”.

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