French oil major TotalEnergies on Wednesday reported a sharp drop in full-year earnings, against a backdrop of lower crude prices and weak fuel demand.

The oil-and-gas company reported a 72% rise in net profit on strong earnings in its integrated LNG and integrated power divisions, but missed analyst expectations.

The oil-and-gas company reported a 72% jump in net profit, boosted by strong earnings in its integrated LNG and integrated power divisions, but missed analysts’ expectations.

TotalEnergies CEO Patrick Pouyanne said on Wednesday that financing from the United States for its $20 billion Mozambique LNG project is expected to be approved in coming weeks, with other credit agencies to follow in the months after.

TotalEnergies SE Chief Executive Officer Patrick Pouyanne said he expects the US Export-Import bank to finish approval of $4.7 billion in financing for its Mozambique liquefied natural gas project in a matter of weeks under President Donald Trump.