BAKU, Azerbaijan, November 7. TotalEnergies anticipates hydrocarbon production to remain within the range of 2.4 to 2.5 million barrels oil equivalent per day (mboe/d) in the fourth quarter of 2023, Trend reports.
In the third quarter of 2023 (3Q2023), TotalEnergies disclosed a daily hydrocarbon production of 2.47 mboe/d, indicating a 7 percent decline in comparison to the 2.6 mboe/d recorded in the same period of the previous year (3Q2022). Additionally, the production figure for the second quarter of 2023 (2Q2023) remained at 2.47 mboe/d.
At the same time, the company's hydrocarbon production over the first nine months of the current year totaled an average of 2.49 mboe/d. This represents a decline of 9 percent in comparison to the same period in 2022 when the company's daily hydrocarbon production reached 2.75 mboe/d.
Thus, TotalEnergies' hydrocarbon output over the fourth quarter of the current year is expected to remain broadly stable.
Furthermore, the growth in production is anticipated over the last quarter of 2023 mainly due to the effects of its divestment of oil sands assets in Canada.
Meanwhile, in the fourth quarter of 2023, refinery utilization rates are projected to exceed 80 percent, while the restart of Port Arthur is anticipated in mid-November.
