Welcome to our dedicated page for TotalEnergies SE news (Ticker: TTE), a resource for investors and traders seeking the latest updates and insights on TotalEnergies SE stock.
TotalEnergies SE (symbol: TTE) is a French multinational integrated energy and petroleum company founded in 1924. As one of the world's seven supermajor oil companies, TotalEnergies is a key player in the global energy market. The company is involved in all aspects of the oil and gas industry, from exploration and production to refining and distribution.
In 2023, TotalEnergies recorded an impressive production rate of 1.6 million barrels of liquids and 5.0 billion cubic feet of natural gas per day. By the end of 2022, the company's reserves were estimated at 10.2 billion barrels of oil equivalent, with 56% being liquids. Additionally, TotalEnergies achieved LNG sales of 44.3 metric tons in 2023. The company also has significant interests in refining, with a daily capacity of nearly 2.0 million barrels, mainly located in Europe. These refineries enable TotalEnergies to distribute refined products across 65 countries.
Moreover, TotalEnergies is making significant strides in the renewable energy sector. By year-end, the company had installed a gross renewable power generation capacity of 22.4 gigawatts. This commitment to sustainability underscores TotalEnergies' dedication to transitioning toward cleaner energy sources.
Alongside its oil and gas operations, TotalEnergies is a major player in the chemical industry, manufacturing both commodity and specialty chemicals. The company’s diverse portfolio and continuous efforts in innovation and expansion reflect its robust financial health and strategic partnerships.
Stay informed with the latest updates and developments about TotalEnergies SE on StockTitan, where you can find detailed information and news about the company’s performance and projects.
TotalEnergies (TTE) announced two significant LNG contracts in Asia. The first is a sales and purchase agreement (SPA) with Indian Oil (IOCL) to deliver up to 800,000 tons of LNG annually to India for ten years starting in 2026. The second is a heads of agreement (HoA) with Korea South-East Power to deliver up to 500,000 tons of LNG annually to South Korea for five years starting in 2027. These contracts enhance TotalEnergies' LNG supply portfolio and strengthen its presence in the Asian market. TotalEnergies aims to increase the natural gas share in its sales mix to nearly 50% by 2030, supporting global decarbonization efforts.
TotalEnergies (TTE) has disclosed the repurchase of its own shares, carried out between May 27 and May 31, 2024, under shareholder authorization from May 24, 2024. A total of 2,315,239 shares were bought back at a daily weighted average price of €66.059462 per share, amounting to €152,943,443.14 in total. The transactions were executed across several markets: XPAR, CEUX, TQEX, and AQEU. This repurchase aligns with the Market Abuse Regulation (EU No 596/2014). Full trade details are available on the TotalEnergies website.
TE H2, a joint-venture between TotalEnergies (TTE) and EREN Groupe, alongside Austria's VERBUND, signed a Memorandum of Understanding (MOU) with Tunisia to explore a significant green hydrogen project, H2 Notos. This initiative aims to produce 200,000 tons of green hydrogen annually in its initial phase, with potential scalability to one million tons per year. The hydrogen will be produced using electrolysers powered by wind and solar energy and desalinated seawater. The project will connect to Central Europe via the SoutH2 Corridor pipeline, expected to be operational by 2030. VERBUND will lead the hydrogen transportation to Europe, while TE H2 will oversee the project's development and operation.
TotalEnergies SE disclosed the repurchase of its own shares from May 20 to May 24, 2024. This action is in alignment with the authorizations from shareholder meetings in May 2023 and May 2024, and follows the relevant legal framework for share buybacks.
In this period, TotalEnergies repurchased a total of 2,494,815 shares at an average price of €66.137099 per share, accumulating to a total expenditure of €164,999,826.04. The transactions occurred across various markets with specific volumes and amounts detailed for each day.
The full breakdown of these trades is available on the TotalEnergies website.
TotalEnergies (TTE), along with Petrobras and partners, has made the Final Investment Decision (FID) for the second development phase of the Atapu and Sépia fields in Brazil's Santos Basin. The Atapu-2 project will feature a new FPSO unit with a 225,000 bopd capacity, enhancing the current 150,000 bopd production. The Sépia-2 project will also introduce a new-built FPSO with the same capacity, supplementing the existing 180,000 bopd. TotalEnergies holds 15% in Atapu and 16.9% in Sépia. Both FPSOs, expected to start by 2029, are designed to minimize greenhouse gas emissions using advanced technologies.
The Combined Shareholders’ Meeting of TotalEnergies SE (TTE) took place on May 24, 2024. Shareholders approved all Board-supported resolutions, including the approval of the 2023 financial statements and a €3.01 per share dividend. Patrick Pouyanné was reappointed as Chairman and CEO, while Jacques Aschenbroich was confirmed as Lead Independent Director.
Marie-Ange Debon was appointed as a Director for a three-year term. Ernst & Young and PricewaterhouseCoopers were appointed as statutory auditors. Various financial authorizations were granted to the Board. The Sustainability & Climate - Progress Report 2024 received 80% approval.
Details and full results will be available on the TotalEnergies website on May 31.
TotalEnergies SE announced the repurchase of its own shares between May 13 and May 17, 2024. This action follows the authorization from the May 26, 2023, shareholders' meeting and adheres to applicable share repurchase laws. Over five days, TotalEnergies bought 2,121,029 shares at an average price of EUR 67.68 per share, amounting to a total transaction value of approximately EUR 143.54 million. The purchases occurred across several markets including XPAR, CEUX, TQEX, and AQEU.
TotalEnergies has announced the Final Investment Decision (FID) for the Kaminho deepwater project in Angola, collaborating with partners Petronas (40%) and Sonangol (20%).
Located 100 km off the coast of Angola at 1,700 m depth, the project aims to develop the Cameia and Golfinho fields.
A Floating Production Storage and Offloading (FPSO) unit will be utilized, designed to minimize greenhouse gas emissions and eliminate routine flaring. Production is expected to start in 2028, reaching up to 70,000 barrels of oil per day.
Over 10 million man-hours will be required in Angola, mainly for offshore operations and local construction. TotalEnergies and Sonangol also signed a Memorandum of Understanding focused on decarbonization and renewable energy.
The project is economically viable with a breakeven under $30/barrel and will contribute to Angola's oil production and national revenue.
TotalEnergies SE (TTE) has disclosed its total number of shares and voting rights as of April 30, 2024.
The company reports 2,386,846,474 shares in its share capital, with 2,313,549,003 of these being exercisable voting rights at the shareholders' meeting.
The difference accounts for 73,297,471 treasury shares.
TotalEnergies aims to provide clean cooking access to 100 million people in Africa and India by 2030.
The company announced a $400 million investment in liquefied petroleum gas (LPG) for this purpose, during the Clean Cooking Summit organized by the International Energy Agency (IEA).
They will also introduce digital pay-as-you-cook technologies to make clean cooking more affordable.
Currently, over 2.3 billion people lack access to clean cooking solutions, relying on traditional stoves that contribute to health and environmental issues.
Cleaner cooking fuels like LPG can improve air quality, reduce CO2 emissions, and save time spent on collecting wood.
Patrick Pouyanné, CEO of TotalEnergies, emphasized the initiative's alignment with the company's sustainability goals and its potential positive impact on health, gender equality, and the environment.
TotalEnergies already serves over 50 million people in Africa and Asia with LPG.
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