TotalEnergies expects Q2 hydrocarbon output near 2,400,000 boe/d, organic growth in line with 4% guidance - TTE News | RalliesTotalEnergies expects Q2 hydrocarbon output near 2,400,000 boe/d, organic growth in line with 4% guidance
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TTE• Upstream cash flow and pricing
- Upstream cash flow seen rising about USD 1 billion versus Q1 on a USD 17.9/b increase in liquids realized price to USD 91.6/b.
Q2 production outlook and conflict impact
- TotalEnergies expects Q2 2026 hydrocarbon production near 2,400,000 boe/d, supported by organic growth in line with 4% quarterly guidance.
- Middle East conflict impact seen at about 210,000 boe/d in Q2, below prior guidance of 360,000 boe/d.
LNG cash flow, investment and balance sheet
- Integrated LNG cash flow and earnings expected to fall sharply, hit by weaker gas trading in a flat-to-down European market.
- Net investments expected in line with a USD 15 billion annual guidance; gearing ratio expected to improve by at least 2 points versus end-Q1.
