Q3 2022 TotalEnergies SE Earnings Call Transcript
Ladies and gentlemen, welcome to the Third Quarter 2022 Results Conference Call. (Operator Instructions) I now hand over to Jean-Pierre Sbraire, CFO, who will lead you through this call. Sir, please go ahead.
Thank you. Hello, everyone. Jean-Pierre speaking. We reported solid third quarter results that continued to demonstrate TotalEnergies' ability to effectively leverage the very strong and volatile environment. This success allowed us to further strengthen the balance sheet and to share the benefits with our employees and with our shareholders.
The third quarter environment was marked by volatility at a very high level. Brent remained strong, averaging more than $100 per barrel in the third quarter and reversed the decline late in the quarter after OPEC+ announced a 2 million per barrel quota reduction in early October, which demonstrates that OPEC wants to remain in control despite the risk of lower world economic growth.
European gas prices were pushed through the roof by
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