TotalEnergies profit rises as CEO floats US listing move

Paris, France: TotalEnergiessaid Friday its first quarter net profit rose to $5.7 billion as a strong oil market offset weaker gas prices, while its C...

Paris, France: TotalEnergies said Friday its first-quarter net profit rose to $5.7 billion as a strong oil market offset weaker gas prices, while its CEO floated the idea moving the French group's main stock listing to New York.

Chief executive Patrick Pouyanne said in a statement that TotalEnergies was "delivering strong results and an attractive shareholder return" that were "in line with its ambitious 2024 objectives".

While its net income rose three percent, the company's core profit fell 19 percent compared to the first quarter last year to $11.5 billion.

TotalEnergies, which turns 100 years old this year, increased its hydrocarbon production by 1.5 percent between January and March compared to the same period last year.

The output growth was fuelled by oil projects in Brazil and gas in Oman and Azerbaijan, which will host the UN's COP29 climate summit later this year.