What were TotalEnergies' second-quarter adjusted net income and year-on-year growth rate, and what key factors drove this performance?

TotalEnergies reported adjusted net income of $6 billion for the second quarter of 2026, representing a 67% rise compared to $3.6 billion in the second quarter of 2025; this surge was driven primarily by higher oil prices and strong refining margins resulting from supply disruptions caused by the U.S.-Israeli war on Iran, which led Iran to effectively shut the Strait of Hormuz, pushing Brent crude prices to an average of $97 per barrel — up 45% year-on-year — and creating favorable conditions for refining and trading profits.

How did the Strait of Hormuz closure impact TotalEnergies’ refining and chemicals division specifically?

The paralysis of the Strait of Hormuz caused fuel shortages and elevated oil and fuel prices, enabling TotalEnergies’ refining and chemicals division to achieve a 362% surge in income to $1.8 billion in the second quarter of 2026, as refining margins rose sharply and the company traded profitably amid the resulting market volatility.

ChemBrief

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TotalEnergies second quarter profits soar on higher oil price, strong refining margins

Jul 22, 2026

TotalEnergies reported a 67% surge in second-quarter earnings to $6 billion, driven by soaring oil prices and strong refining margins amid Middle East supply disruptions. Additionally, the company announced a $1.5 billion share buyback scheme.

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