The Board of Directors of TotalEnergies SE, chaired by CEO Patrick Pouyanné, met on April 25, 2024, to approve the first quarter 2024 financial statements. On the occasion, Patrick Pouyanné said:\'Celebrating its 100th year anniversary in 2024, TotalEnergies demonstrates once again this quarter the relevance of its balanced transition strategy that is anchored on two pillars, hydrocarbons and power, delivering strong results and an attractive shareholder return. In a context of sustained oil prices and refining margins but softening gas prices, the Company announced first quarter 2024 adjusted net income of $5.1 billion and cash flow of $8.2 billion, in line with its ambitious 2024 objectives.During the first quarter, Oil & Gas production was 2.46 Mboe/d, benefiting from 6% quarter-to-quarter production growth in LNG and from start-ups at Mero 2 in Brazil and Akpo West in Nigeria. The Company positively appraised the Venus discovery in Namibia and Cronos in Cyprus. Exploration & Production delivered adjusted net operating income of $2.6 billion and cash flow of $4.5 billion, and confirms its leadership as a low-cost operator with upstream production costs below 5 $/boe.Integrated LNG achieved adjusted net operating income of $1.2 billion and cash flow of $1.3 billion for the quarter in a softening and less volatile price environment. The Company strengthened its integration in the LNG value chain with the acquisition of Lewis Energy Group’s upstream natural gas assets in the Eagle Ford Basin in the United States, and with the signature of an LNG sales agreement to Sembcorp in Asia. The Company further deployed its multi-energy strategy in Oman, launching the fully-electric and very low emissions (3 kg/boe) Marsa LNG project that targets in priority the marine fuels market and developing an 800 MW portfolio of wind and solar projects, including the 300 MW solar project that will supply Marsa LNG.During the first quarter, Integrated Power generated sequentially higher adjusted net operating income of $0.6 billion and $0.7 billion of cash flow, with a return on average capital employed reaching 10%, confirming the Company\'s ability to profitability grow across the electricity value chain. TotalEnergies enhanced its integrated position in Texas through a 1.5 GW flexible gas capacity acquisition that closed this quarter.Downstream adjusted net operating income was $1.2 billion and cash flow was $1.8 billion, benefiting from strong refining margins. The Company finalized the divestment of part of its European retail network to Alimentation Couche-Tard and advanced its development in Sustainable Aviation Fuels (SAF) through partnerships with Airbus and SINOPEC.Given these strong results, in line with TotalEnergies’ ambitious 2024 objectives, the Board of Directors decided the distribution of a first interim dividend of 0.79 €/share for fiscal year 2024, an increase close to 7% compared to 2023, and authorized the Company to buy back shares for $2 billion in the second quarter of 2024.\'1. HighlightsSocial and environmental responsibilityUpstreamDownstreamIntegrated LNGIntegrated Power• Closing of the 1.5 GW acquisition of flexible power generation capacity in Texas• Launch of a new 75 MWh battery storage project, in Belgium• Over 1.5 GW of PPAs signed with 600 industrial and commercial customers worldwide Decarbonization and low-carbon molecules• Acquisition of carbon storage projects from Talos Low Carbon Solutions, in the United States• Creation of a joint-venture with Vanguard Renewables (50%/50%), a BlackRock subsidiary, to produce biomethane in the United States• Founding member of the international “e-NG Coalition” to support the development of production and use of synthetic methaneClick here for full announcementSource: TotalEnergies