TotalEnergies EP Gabon First Quarter 2026 Financial Results

TotalEnergies EP Gabon reported its financial results for the first quarter of 2026. The average Brent crude price increased by 7% to $81.1 per barrel. TotalEnergies EP Gabon managed to sell its crude at an average price of $93.5 per barrel, a 24% rise from the previous year.

Crude oil production dipped by 4% to 16.1 kb/d due to natural field declines and a pipeline shutdown. Sales volumes dropped by 33%, impacting revenues, which fell by 16% to $98 million. Despite lower volumes, strong crude prices supported revenues. Cash flow from operations improved significantly, recording a negative $4 million, an improvement from the previous year's -$229 million.

Net income surged by 105% to $45 million, driven by higher crude prices and reduced expenses, despite increased taxes and non-operational charges. Capital expenditure decreased to $15 million.