BAKU, Azerbaijan, July 25. TotalEnergies reported a strong sequential rebound in adjusted net operating income from its downstream segment, posting $801 million in 2Q2025, Trend reports.
According to the company's latest financial statement, this marked a 48% increase compared to $541 million in 1Q2025. However, the figure still reflects a 21% drop from the $1.018 billion recorded in 2Q2024.
For the first half of the year, adjusted net operating income totaled $1.34 billion, marking a sharp 40% decline from $2.24 billion in the same period last year.
The sequential recovery in 2Q suggests improving margin conditions and operational performance, possibly following a softer first quarter. Yet, the year-on-year drop continues to reflect broader industry challenges, including weaker refining margins and lower demand for refined products across some key markets.
