LNG

French oil major TotalEnergies expects all its division to post higher second quarter profits, except LNG, where earnings will fall sharply, with the company blaming “an underperformance in gas trading in a broadly flat to declining European [gas] market.” JP Morgan analysts noted TotalEnergies’ rivals in the UK fared better on LNG trading, indicating Total management might decide to increase its share buyback to $2 billion, from the earlier announced $1.5 billion.