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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

TotalEnergies Q1 profit up 12%

Net profit was $5.6 billion (5.1 billion euros) for the first quarter. (AFP)
  • TotalEnergies revealed that the net profit during the first three months was $5.6 billion in 2023.
  • Jump in oil, gas prices post Russia-Ukraine war boosted TotalEnergies' profit to $20.5bn in 2022.

Paris, France – French energy giant TotalEnergies announced Thursday a 12-percent rise in net profit in the first three months of the year despite gas and oil prices falling.

Net profit was $5.6 billion (5.1 billion euros) for the first quarter compared to $4.9 billion during the same period last year, the company said.

And it was a 70-percent gain compared to net profit in the last three months of 2022.

“TotalEnergies once again demonstrates its ability to generate strong results… in an environment of lower oil and gas prices,” it said in a statement.

The oil and gas giant also announced it had sold its oil sands activities in Canada to SunCor Energy for $4.1 billion.

The French firm said it had accepted an offer from Suncor Energy “for the acquisition of the entirety of the shares of TotalEnergies EP Canada Ltd”.

The deal aims to be finalized before the end of the third quarter of this year, it said.

The French firm has said high oil and gas prices following Russia’s invasion of Ukraine in February last year bolstered its net profit to a record $20.5 billion in 2022.

The massive profits sparked renewed debate about taxing windfall earnings to help fund measures to protect consumers from rampant inflation.

Oil prices have tumbled in recent months, and Brent North Sea crude stood below $80 per barrel on Thursday.