Total Energy’s French profit increases in the third quarter

Paris: French giant Total Energy said Thursday that rising global oil and gas prices helped it achieve a huge jump in profits in the third quarter of the year.

Net income increased 43% over the same period last year to $ 6.6 billion, with record-breaking performance of natural gas and liquefied natural gas units.

During the first nine months of the year, the company earned $ 17.3 billion, while its profits last year totaled $ 16 billion.

The company made profits despite a new $ 3.1 billion provision for Russia-related risks, after two provisions in the first two quarters.

The oil group’s huge profits could fuel a heated debate in France over whether to impose an extraordinary tax on energy companies to help fund measures to protect consumers from rising prices.

French President Emmanuel Macron reiterated his opposition to this measure during a televised interview on Wednesday evening.