TotalEnergies (TTE.US) Q3 profits doubled to $9.1 billion, with refining margins soaring to historic highs.

According to JinZhi Finance APP, French oil giant Total (TTE.US) released its third-quarter results on October 29. Benefiting from reduced global refined oil supply following the war between the US, Israel, and Iran, Total’s Q3 adjusted net profit reached $9.1 billion, a year-on-year increase of 127%. This marks the highest level since the first quarter of 2022, representing a 51% quarter-on-quarter rise and more than doubling from approximately $4 billion in the same period last year. The result also exceeded the consensus forecast of $8.3 billion from 12 analysts compiled by LSEG.