Elena Himona

Elena Himona inquired about the drivers of TotalEnergies' marketing unit margin improvement, whether they are structural or temporary, and asked about the context and goals of recent partnerships for AI deployment and a global data platform.

Answer

Patrick Pouyanné, Chairman and CEO, attributed marketing margin improvement to a 'value over volume' strategy, divesting low-margin businesses and focusing on higher-margin activities, which he expects to continue structurally. On AI, he described a significant investment (over $350 million) in data platforms (with Amazon) and software deployment (with Cognite) to accelerate AI use, aiming for additional revenues from enhanced process control in oil fields and refineries, leveraging internal talent and potentially expanding in India.

Elena Himona asked about the drivers behind the increase in TotalEnergies' marketing unit margins, questioning if the improvement is structural or temporary. She also inquired about the company's recent partnerships on AI and a global data platform, asking if these represent an acceleration of existing digitalization efforts.

Answer

Patrick Pouyanné, Chairman and CEO, confirmed that the marketing margin improvement is structural, driven by a 'value over volume' strategy and the divestment of low-margin logistics assets. He explained that AI partnerships with Amazon and Cognite, representing over $350 million in investment, are a significant acceleration of digitalization efforts, aiming to connect physical data globally to enhance refinery linear programs and oil field production, ultimately generating additional revenues.