TotalEnergies expects third-quarter refining and chemicals cash flow to rise $2 billion from previous quarter
TTE•TotalEnergies expects third-quarter 2026 refining and chemicals cash flow to increase $2 billion sequentially, with higher margins and throughput. It also forecasts hydrocarbon production of 2.45 million–2.5 million barrels of oil equivalent per day and Integrated Power cash flow of $750 million–$800 million.
1. Quarterly outlook
TotalEnergies expects third-quarter 2026 refining and chemicals cash flow to rise $2 billion from the previous quarter, driven by strong margins and throughput that is 10% higher. Integrated LNG earnings are expected to rise sharply, supported by a 20% sequential increase in average LNG prices and strong trading performance.
2. Production and cash flow
The company expects hydrocarbon production of 2.45 million–2.5 million barrels of oil equivalent per day. Growth excluding Middle East disruptions should exceed 4% compared with the third quarter of 2025. Integrated Power cash flow is projected at $750 million–$800 million, benefiting from a full-quarter contribution from the EPH joint venture, while a positive working capital contribution of about $3 billion is expected.
