TotalEnergies Q1 Profits Surge Amid Middle East War

French oil and gas giant TotalEnergies said Wednesday that net profit rose 51 per cent in the first quarter to $5.8 billion, boosted by higher oil prices linked to the war in the Middle East, drawing criticism from climate groups.

Growth in its oil and gas production in Brazil, Libya, and Australia allowed the group to offset losses in the Gulf region, which is normally equivalent to 15 per…