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Total First quarter 2021 results Press Release With results of more than $ 3 billion , Total fully benefits from rebound in hydrocarbon prices LNG and renewables represent one - third of results 1Q21 1Q20 Change vs 1Q20 1Q19 Change vs 1Q19 Oil price - Brent ( $ / b ) 61.1 50.1 + 22 % 63.1 -3 % Average price of LNG ( $ / Mbtu ) 6.1 6.3 -4 % 7.2 -16 % Variable cost margin - Refining Europe , VCM ( $ / t ) 5.3 26.3 -80 % 33.0 -84 % Adjusted net income ( Group share ) ¹ -in billions of dollars ( B $ ) - in dollars per share DACF¹ ( B $ ) Cash Flow from operations ( B $ ) Net income ( Group share ) of 3.3 B $ in 1Q21 3.0 1.8 69 % 2.8 + 9 % 1.10 0.66 + 68 % 1.02 + 8 % 5.8 4.3 + 34 % 6.3 -8 % 5.6 1.3 x4.3 3.6 + 54 % Net - debt - to - capital ratio of 19.5 % at March 31 , 2021 vs. 21.7 % at December 31 , 2020² Hydrocarbon production of 2,863 kboe / d in 1Q21 , a decrease of 7 % compared to 1Q20 First 2021 interim dividend set at 0.66 € / share Paris , April 29 , 2021 - The Board of Directors of Total SE , meeting on April 28 , 2021 , under the chairmanship of Chairman and Chief Executive Officer Patrick Pouyanné , approved the Group's first quarter 2021 accounts . On this occasion , Patrick Pouyanné said : << In the first quarter , the Group fully benefited from rising oil and gas prices , up 38 % and 24 % , respectively quarter - to- quarter , and its strategy to grow LNG and Renewables and Electricity . The Group reported adjusted net income of $ 3 billion , above the pre - crisis first quarter of 2019 , despite a less favorable environment by taking advantage of the action plans implemented during the crisis . Cash flow ( DACF ) increased to $ 5.8 billion and gearing already decreased to less than 20 % in the first quarter of 2021 , validating the strategy of resilience and maintaining the dividend driven by the Board of Directors during the 2020 crisis . The Board of Directors confirms the objective of anchoring the Group's gearing sustainably below 20 % . The organic cash breakeven was less than $ 25 / b in the first quarter . The IGRP segment reported adjusted net operating income of $ 1 billion , the highest in its history , and generated cash flow of more than $ 1 billion , thanks to growing LNG sales and the positive contribution from Renewables and Electricity , which had an EBITDA of nearly $ 350 million . Over the past year , gross installed renewable power generation capacity grew from 3 GW to 7.8 GW , renewable power production more than doubled , net power production increased by more than 60 % and the Group now has more than 5 million customers in France . With more than $ 2 billion invested in renewables , including the acquisition of a 20 % stake in Adani Green Energy Ltd in India , in the first quarter of 2021 , the Group is accelerating its transformation into a broad energy company . With an adjusted net operating income of $ 2 billion , Exploration & Production fully captured the higher oil price and provided a strong cash flow contribution of $ 3.8 billion . Given the OPEC + quota implementation , the Group's production , as announced , increased slightly to 2.86 Mboe / d ( 0.8 % ) . With the launch of the Lake Albert project in Uganda and Tanzania , the Group is implementing its strategy to invest in resilient low - breakeven projects that reduce the carbon intensity of its portfolio . The improved Upstream environment contrasts with depressed European refining margins , down 80 % from a year ago , reflecting weak demand for petroleum products of 13 Mb / d in the first quarter 2021 versus 15 Mb / d a year earlier . Downstream adjusted net operating income was more than $ 500 million , supported by strong petrochemicals performance and resilient Marketing & Services . Strengthened by these excellent results and confident in the fundamentals of the Group , the Board of Directors decided to distribute a first interim dividend for fiscal year 2021 stable at € 0.66 / share . » > 1 Definition page 3 . 2 Excluding leases . 1