In Q1 2025, TotalEnergies earned $4.2 billion in adjusted internet earnings and $7.0 billion in money move from operations. Income dropped to $47.89 billion from $51.88 billion a yr earlier. Nonetheless, the corporate held agency due to robust oil and gasoline output and regular LNG income, and extra apparently, its carbon credit funding.
The report revealed that manufacturing rose 4% year-over-year, averaging 2.55–2.57 million barrels of oil equal per day. New output from Brazil, the U.S., Malaysia, Argentina, and Denmark helped drive this development. Gasoline costs stayed excessive, partly balancing weaker oil costs.
Energy and LNG Increase TotalEnergies Amid Refining Woes
The LNG business posted $1.3 billion in adjusted internet working earnings. Whereas LNG buying and selling met expectations, gasoline buying and selling struggled resulting from Europe’s risky markets and geopolitical tensions.
Energy operations additionally grew. The phase generated over $500 million in earnings and $600 million in money move. Key offers, like buying Germany’s VSB and investing in battery storage, supported this development.
Nonetheless, downstream operations confronted headwinds. Weak refining margins and points at French and U.S. services lower into income. Petrochemical and biofuel margins in Europe additionally declined, including strain.
Carbon Credit score Spending Hits File Excessive
TotalEnergies spent $2 million on carbon credit in Q1 2025. That’s double what it spent in Q1 2024. This large spending goals to chop emissions and attain its net-zero goal by 2050.
Sturdy Backing for Nature-Based mostly Tasks
A big phase of its funding helps nature-based options like forest safety, regenerative farming, and wetland conservation. By the top of final yr, TotalEnergies had collected 13.7 million verified carbon credit. Every year, the corporate plans to speculate $100 million in carbon tasks.
- Between 2025 and 2030, TotalEnergies will construct a inventory of fifty million carbon credit.
- These tasks can probably ship at the very least 5 million metric tons of CO₂e credit yearly by 2030.
- From 2030, the corporate will begin utilizing high-quality carbon credit to offset its remaining Scope 1 and a pair of emissions.
The goal is to construct a powerful portfolio of trusted tasks that assist international guidelines and make sure the credit are actual and long-lasting. Moreover, the corporate expects these tasks to deliver long-term environmental and social advantages.
- It expects to achieve 37 million verified credit by 2030 and 53 million by 2050. These tasks may additionally generate $770 million for native communities.
$100 M Cope with Anew Local weather and Aurora Sustainable Lands
TotalEnergies signed a $100 million cope with Anew Local weather and Aurora Sustainable Lands final yr. The venture protects 300,000 hectares of forests throughout 10 U.S. states—Arkansas, Florida, Kentucky, Louisiana, Michigan, Minnesota, New York, Virginia, West Virginia, and Wisconsin.
This partnership helps sustainable forest management and boosts the forests’ capacity to soak up carbon. It additionally helps native communities by enhancing land use and stopping environmental harm. The carbon credit generated assist offset the corporate’s remaining emissions.
What Makes Complete Energies the High Internet-Zero Participant
Final yr, the LNG big launched the “Our 5 Levers for Sustainable Change” initiative. The objective was to have interaction all workers in lowering emissions by boosting power effectivity and adopting low-carbon applied sciences throughout its operations.
GHG Emissions Fell in 2024
The corporate lower emissions from operated websites by greater than 36% in 2024 in comparison with 2015. Notably, over 200 emission-reduction tasks helped slash 1.3 million tons of CO₂e.
Nonetheless, just lately the corporate raised its 2025 emissions goal to 37 Mt CO₂e per yr. It goals to chop internet Scope 1+2 emissions by 40% by 2030 (vs. 2015 ranges). This additionally contains utilizing 5 million carbon credit from nature-based tasks, as defined earlier than. Subsequently, these offsets will probably be used just for residual emissions from 2030 and consumed step by step at about 10% per yr.
By end-2024, TotalEnergies had invested round $750 million in emissions discount. These investments save 1.5 Mt CO₂e every year and lower power prices by over $100 million yearly.
Nonetheless, emissions from versatile energy era rose barely. This occurred as a result of addition of combined-cycle gasoline generators (CCGTs) within the U.S. and U.Ok., which assist TotalEnergies’ low-carbon electrical energy enlargement.
Nonetheless, general emissions dropped 25% from 2015 ranges.
- The carbon depth of upstream oil and gasoline property additionally fell from 21 kg CO₂e/boe in 2015 to 17 kg CO₂e/boe in 2024.
All these figures make TotalEnergies one of many high business performers.
Scope 3 and Scope 4 Emissions
In 2024, TotalEnergies helped scale back international emissions by 65 million tonnes of CO₂e by way of LNG gross sales, as many purchasers changed coal with gasoline for energy era. Though gasoline will increase Scope 3 emissions, it allows cleaner power and avoids extra emissions general. These are categorized as Scope 4 emissions.
The corporate additionally prevented 18 million tonnes of CO₂e in 2024 and is aiming for 150 million tonnes of emissions by 2030. This makes 90 Mt from LNG and 60 Mt from renewables whereas retaining Scope 3 emissions beneath 400 Mt.
Methane Emissions Drop Drastically
Methane emissions dropped from 64 kt in 2020 to 29 kt in 2024—a 55% lower. TotalEnergies beat its 2025 goal early and now goals for a 60% lower by 2025, and an 80% lower by 2030 in comparison with 2020.
Digital Instruments Increase Effectivity
The corporate is utilizing digital instruments to chop emissions neatly. In Exploration & Manufacturing, the ForCFR app hyperlinks carbon forecasts with oil and gasoline output. In Angola, it helped lower 179 kt CO₂e yearly by optimizing nicely operations.
One other instance is: on the Normandy, Donges, and Feyzin refineries, the CarbOptim app tracks power use in real-time and helps lower steam and power waste.
2025 Carbon Depth Discount Goal
TotalEnergies has raised its 2025 carbon intensity discount goal from 15% to 17%, aiming for a 25% emission lower by 2030. Which means delivering the identical power with fewer emissions, or extra power with the identical carbon footprint. Many of the progress will come from boosting clear electrical energy, chopping oil use, and rising gasoline and bioenergy.
Joins Google for Clear Vitality
In January 2025, TotalEnergies teamed up with Google Europe to assist energy its Dutch data centers with 24/7 clear electrical energy by 2030. They’ll mix Google’s inexperienced energy offers and add battery storage to deal with renewables’ ups and downs. Related offers are already in place with U.S. tech corporations
Change to Low-Carbon Energy by 2025
TotalEnergies goals to energy all its refining and chemical websites in Europe and the U.S. with 100% low-carbon electrical energy by 2025. This goal will probably be achieved by way of initiatives just like the Go Inexperienced venture in Port Arthur, Texas.
- Moreover, final yr it achieved 26 GW of gross put in renewable electrical energy capability, concentrating on 35 GW by 2025 and reaching 100 GW by 2030.
With this progress, TotalEnergies plans to turn out to be one of many high 5 international producers of renewable electrical energy (wind and photo voltaic), excluding Chinese language corporations.
Newest Tasks
In April 2024, TotalEnergies began the Marsa LNG venture in Oman. The plant will run on energy from a 300 MW solar farm and emit lower than 3 kg CO₂ per barrel of oil equal.
Additionally, the corporate authorized the GranMorgu oil venture in Suriname.
This all-electric venture will use superior tech to chop emissions beneath 16 kg CO₂ per barrel of oil equal.
Moreover, it goals to:
- Change into a key producer of Sustainable Aviation Gasoline (SAF), concentrating on 1.5 million tonnes yearly by 2030.
- In 2024, the corporate’s gross biomethane manufacturing capability rose to 1.2 TWh per yr
Hydrogen Plans Take Form
That is a part of its long-term plan to decarbonize its operations and power merchandise.
TotalEnergies is increasing its clear hydrogen portfolio with a number of tasks throughout Europe. In France, it’s constructing biohydrogen models at La Mède and Grandpuits refineries with Liquid airconcentrating on annual CO₂ cuts of 130,000 and 150,000 tonnes respectively.
Within the Netherlands, a 250 MW offshore wind-powered electrolyser in Zeeland will provide 30,000 tonnes of inexperienced hydrogen from 2029, lowering refinery emissions by 300,000 tonnes yearly.
Moreover, tolling agreements in Belgium and France will see Air Liquide function electrolysers in Antwerp (130 MW) and Normandy (100 MW), every producing 15,000 tonnes of hydrogen yearly and chopping 150,000 tonnes of CO₂ per website by 2027.
Regardless of market challenges, TotalEnergies continues to put money into clear power and local weather motion. Its rising carbon credit score purchases spotlight how huge power gamers are utilizing voluntary carbon markets to decarbonize. Thus, its function for a lower-carbon future is of utmost significance.
