TotalEnergies’ Nigerian Fuel Retail Business Suffers N2.86bn Loss in H1

TotalEnergies Marketing Nigeria, a fuel marketing company, reported a loss of N2.86 billion in the first half of the year compared with a profit of N20.57 billion in the same period of 2024.

The subsidiary of French energy giant TotalEnergies saw its revenue fall to N423.90 billion from N529.94 billion.

Jean-Phillipe Torres, chairman of the company, said in its 2024 audited financial statements, had said the company was “mindful of the current supply situation which has been impactful on our business and may continue in 2025 and onwards”.

“As we look forward to the future, our focus is clear: to increase our market share, invest and expand our influence across the downstream sector and maintain our competitiveness through the affiliation of new stations,” he said in the report released in April.