The oil and gas group is benefiting from the surge in hydrocarbon prices against a backdrop of conflict in the Middle East, while the government is extending its aid in the face of rising fuel prices.
The French giant TotalEnergies announced, Thursday July 23, 2026, a doubling of its net profit in the second quarter, reaching 4.7 billion euros, compared to 2.36 billion a year earlier. This performance comes in a context of high hydrocarbon prices linked to the conflict in the Middle East.
Over the first half of the year, the group’s net profit stood at $11.2 billion (€9.8 billion), up 73% year-on-year. In the first quarter, the group’s quarterly profits jumped by almost 50% year-on-year.
“In a high price environment linked to the conflict in the Middle East, TotalEnergies is taking advantage of its integrated model and its diversification to post an adjusted net profit (an indicator monitored by analysts) of $6 billion in the second quarter,” said the group’s CEO, Patrick Pouyanné, in a press release.
Consequences for consumers and government response
Pump prices started to rise again with the resumption of clashes between the United States and Iran, which continued on Thursday for the twelfth consecutive day. “The situation is extremely uncertain,” admitted Maud Bregeon, Minister of Energy and government spokesperson, on Tuesday.
The State is maintaining its counter for frequent flyers until the end of August, Roland Lescure, the Minister of the Economy, said on Thursday on franceinfo.
Some 3 million French people are eligible for fuel aid but only 1.2 million have applied, according to the government.
