French oil major TotalEnergies on Wednesday reported a sharp drop in full-year earnings, against a backdrop of lower crude prices and weak fuel demand.

French oil major TotalEnergies reported a 15% drop in fourth quarter earnings on Wednesday, closing out a year marked by low oil prices and weak fuel demand which were partially offset by higher electricity sales and liquefied natural gas (LNG) trading.

The oil-and-gas company reported a 72% rise in net profit on strong earnings in its integrated LNG and integrated power divisions, but missed analyst expectations.

PARIS (Reuters) - TotalEnergies CEO Patrick Pouyanne said on Wednesday that European countries should negotiate to obtain a free trade guarantee on liquefied natural gas (LNG) from the United States.

TotalEnergies will expand its investment in U.S. liquefied natural gas over the next decade as the French company seeks to cement its position as a major exporter of U.S. LNG, its CEO told Reuters on Wednesday,