TotalEnergies SE (NYSE:TTE) Q1 2024 Earnings Conference Call April 26, 2024 7:00 AM ET

Company Participants

Patrick Pouyanne - Chairman & CEO
Jean-Pierre Sbraire - CFO

Conference Call Participants

Christopher Kuplent - Bank of America Merrill Lynch
Irene Himona - Bernstein
Christyan Malek - JPMorgan Chase & Co.
Lucas Herrmann - BNP Paribas Exane
Henri Patricot - UBS
Jean-Luc Romain - CIC Market Solutions
Alastair Syme - Citigroup
Martijn Rats - Morgan Stanley
Kim Fustier - HSBC
Lydia Rainforth - Barclays Bank
Biraj Borkhataria - RBC Capital Markets
Michele Vigna - Goldman Sachs Group
Bertrand Hodee - Kepler Cheuvreux
Paul Cheng - Scotiabank

Operator

Ladies and gentlemen, welcome to TotalEnergies First Quarter 2024 Results Conference Call. [Operator Instructions].

I now hand you over to Mr. Patrick Pouyanne, Chairman and CEO; and Jean-Pierre Sbraire, CFO, who will lead you through this call. Sir, please go ahead.

Patrick Pouyanne

Good morning, and good afternoon, everyone, for this quarterly result session. I'm happy to welcome you together with Jean-Pierre, who will go through all the details of these good, strong results in first quarter 2024. But before to do it, I would like to highlight the way we have implemented our 2-pillar strategy during this quarter. And first, to celebrate this -- to recognize that the company celebrated its 100th year anniversary on March 28.

We have been celebrating this event all through the company in 120 countries where we are present. We have company's ancestors who are really pioneers when they discovered oil in Iraq in 1927. And of course, it was the opportunity this anniversary to pay tribute to hundreds of thousands of pioneers who had followed them and who are, in fact, the past and the present employees of the company. And we have decided, by the way, by the signature of this anniversary, would be pioneers for 100 years.

So -- but today, I would say with the same pioneer spirit, that we have decided in 2020 to embark in our journey in the energy transition. And moving to TotalEnergies into an integrated, multi-energy company with a clear and simple strategy anchored on 2 pillars.

First, on oil and gas, mainly LNG, with the objective to continue producing hydrocarbons in a responsible way -- producing and growing hydrocarbons in a responsible way in order to answer the growing demand. And second, investing and developing integrated power energy for the future with objective to become net cash positive by 2028.