Analysts had expected $4.3 billion, according to a consensus compiled by London Stock Exchange Group Refinitiv.

Despite boosting oil and gas production by 4% compared to a year ago, upstream profits are still 6% down due to the lower oil price.

TotalEnergies said, however, that it would continue share buybacks for up to $2 billion in the second quarter, despite Brent crude prices falling below $70 per barrel this month.

Its shares were down 3.7% at 10h19 CAT.

Income from Total's refining and chemicals segment was down 69% from the same period last year, slightly lower than what the firm had flagged in its trading update earlier this month.

Profit margins on refining oil into fuels in Europe have risen over the past six months but are still 59% lower than a year ago, largely due to weak demand and new competition from Asian and African refineries.

--Reuters--