Shareholders of TotalEnergies fall victim of petrol price war

•Wipes out profit, dividend
By Peter Egwuatu
TotalEnergies Marketing Nigeria Plc has attributed its decision not to pay a dividend for the financial year ended December 31, 2025, to the severe challenges that confronted the downstream petroleum industry during the year.
The company reported a loss after tax of N13.853 billion in 2025, reversing the N27.496 billion profit recorded in 2024, as intense price competition and market instability significantly impacted its operations.
Speaking at the company’s 48th Annual General Meeting (AGM), held virtually yesterday, Chairman, Mr. Jean-Phillipe Torres, said the downstream petroleum sector faced unprecedented difficulties in 2025. He d...