(News Bulletin 247) – TotalEnergies unveiled lower results for its first quarter on Thursday, under the effect of the decline in oil prices from one year to the next.

The oil company also said in a statement that it had accepted an offer from Suncor to buy its oil sands assets in Canada.

Penalized by the fall in Brent prices (-21% over one year), the group saw its adjusted net income fall by 27% over the first three months of the year, to 6.5 billion dollars, in line with expectations. of the market.

Its quarterly hydrocarbon production – excluding Novatek – stood at 2.524 million barrels of oil equivalent per day, where the consensus was for 2.683 million, an increase of 1% on an annual basis.

Total has announced the distribution of a first interim dividend for the 2023 financial year in the amount of 0.74 euros per share, which corresponds to an increase of 7.25%.

Following the announcement of the planned split of its Canadian assets, TotalEnergies says it has accepted an offer from Suncor Energy to acquire all of its subsidiary TotalEnergies EP Canada.

The transaction amount includes a cash payment at closing of approximately $4.1 billion, as well as additional payments of up to $450 million.

The group stresses that this amount is in line with the valuations of between five and six billion Canadian dollars which were envisaged for the listing of the company within the framework of the ‘spin-off’ project.

Given the future proceeds related to the sale, Total has decided to allocate in 2023 at least 40% of its cash flow (CFFO) generated this year to shareholders, at the highest of the range of 35-40% announced in 2022. , either by buying back shares or by distributing an exceptional dividend.

Following all these announcements, the action of the oil group lost 0.4% Thursday in the first exchanges on the Paris Stock Exchange, while the CAC 40 was generally stable.

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