TotalEnergies Marketing Nigeria Plc experienced a significant decline, with shares falling 10% on September 25, 2026. This drop pulled the NGX Oil and Gas Index down by 0.13%, just a day after the index hit a record high.
The stock opened at N576 but closed at N518.40, marking a total decrease of N57.60. This decline extends a troubling trend for TotalEnergies, which has now seen a 19% decrease from N640 at the end of August.
While TotalEnergies struggled, other oil and gas stocks remained stable, with Seplat Energy recording a slight gain. Seplat's stock has surged 175.44% year-to-date, contributing to the previous day's index increase.
Despite the recent stock performance, TotalEnergies reported improved second-quarter results, with a 22% year-on-year revenue increase to N246.81 billion. The company returned to profitability, contrasting sharply with its losses from the previous year.
The financial recovery comes after a challenging 2025, where TotalEnergies faced a significant annual loss. The recent gains in revenue and profit signal a potential turnaround for the company, even as its stock faces volatility.