STORY: TotalEnergies angered French politicians on Wednesday as it raised its dividend and doubled its share buyback.
That's while some lawmakers are pushing for a supertax on the oil major's windfall profits...
In a bid to help consumers hit by higher prices during the Iran war.
Total beat expectations with adjusted net income of $5.4 billion.
It's a jump of almost a third from a year ago, boosted by strong trading.
The conflict in Iran has caused unprecedented disruption of energy markets.
It's forced Total to shut in 15% of its upstream output and pushed up global energy prices.
Total is one of the oil majors and oil producing countries to see a windfall.
On Wednesday, France's Socialist Party announced a proposal to tax these companies' windfall profits in times of crisis.
And activists staged a protest outside a Total fuel station denouncing the energy group's "wartime profits".
The French energy company will buy back $1.5 billion in shares in the second quarter.
It's a turnaround after it slowed purchases and announced a cost-savings program in late 2025 on the expectation low oil prices would fall further.
Total's stock has gained over 40% year-to-date.
