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Published on: 04/30/2026 - 10:05

With a barrel of Brent at its highest since the start of the war in the Middle East, TotalEnergies is posting record profits. Enough to relaunch in France as in Europe the debate on the taxation of superprofits.

Oil prices are soaring and with them, the profits of energy groups. TotalEnergies published results close to $6 billion in the first quarter, up 50% year-on-year. One of the highest levels in recent history. This performance comes in a context of strong geopolitical tensions, particularly around the Strait of Hormuz through which nearly a fifth of the world's oil passes.

A revived political debate

These results immediately revived criticism. On the left, several groups denounce "super war profits" and demand increased taxation, or even a cap on fuel prices. The government calls on groups to “redistribute”.

TotalEnergies highlights its commercial measures – such as capping the price of gasoline at 1.99 euros – to defend its action. But the debate goes beyond France. Several European countries are pushing for a tax coordinated across the European Union. A track already tested in 2022… with revenues that were well below expectations.

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