TotalEnergies Marketing Nigeria Plc shares fell 10% on Friday, September 25, 2026, pulling the NGX Oil and Gas Index down 0.13% a day after the sector gauge reached a record high.
The index had risen 3.95% to 6,252.0 points on Thursday, driven largely by gains in Seplat Energy Plc.
TotalEnergies opened Friday’s session at N576 but ended trading at N518.40, representing a decrease of N57.60 or 10%. The latest decline extends the stock’s weakness over the past month, with TotalEnergies falling 19% from N640 at the end of August to N518.40.
The stock had already dropped 10% from N640 to N576 on August 28 and remained at that level through Thursday, September 24, before recording another 10% decline on Friday.
At N518.40 per share, the company’s market capitalisation stood at about N176 billion, based on its 339.52 million outstanding shares.
The 10% decline on Friday contributed to the 0.13% retreat in the NGX Oil and Gas Index after the sector gauge reached a historic high in the previous trading session.
TotalEnergies’ recent share-price performance therefore contrasts with the improvement recorded in its second-quarter financial results.
Trading across most other oil and gas stocks was largely unchanged on Friday, while Seplat Energy recorded a marginal gain. Conoil Plc remained flat, while Aradel Holdings Plc and Eterna Plc also recorded no movement at the close of trading.
The sharp rise in Seplat had lifted the NGX Oil and Gas Index by 3.95% to 6,252.0 points in Thursday’s session, before TotalEnergies’ decline weighed on the sector gauge on Friday.
TotalEnergies’ second-quarter results showed a significant improvement from the corresponding period in 2025, with revenue rising 22% year-on-year to N246.81 billion in Q2 2026 from N202.28 billion. The increase was supported by higher product pricing, including a 38% rise in PMS prices, a 65.3% increase in AGO prices and a 35.4% increase in DPK prices.
TotalEnergies reported a full-year 2025 loss after tax of about N17.18 billion, compared with a profit after tax of N27.4 billion in 2024, while revenue fell 26% to N767.63 billion from N1.04 trillion.
The first-half 2026 improvement follows a difficult 2025 financial year for TotalEnergies, when weaker revenue and higher costs contributed to the company’s annual loss.
