TotalEnergies reported a 23% fall in second-quarter earnings on Thursday, the French oil major's worst performance in four years but in line with expectations, as lower oil and gas prices outweighed a rise in production and power sales.

The energy major said it would keep its $2 billion quarterly buyback even as lower oil-and-gas prices weighed on its earnings.

TotalEnergies reported a 30% drop in Q2 net income to $2.69B, missing analyst expectations, as lower prices for oil and liquefied natural gas outweighed a rise in production and power sales.