French oil major TotalEnergies , opens new tab reported a worse than expected 6% fall in second-quarter earnings on Thursday, hurt by lower refined product and gas sales and as European refining margins tumbled.
Adjusted net income for the three months to June 30 was $4.7 billion, down from $4.96 billion a year earlier and $5.1 billion in the first quarter. Analysts had expected a flat outcome versus a year earlier.
Income from oil production in the quarter was 14% higher than last year, reflecting higher crude prices but earnings were down 36% at its refining and chemicals unit, and fell 13% at its integrated LNG business.

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