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) has acquired West Burton Energy's gas-fired power plant in Nottinghamshire, UK, for £450 million. The plant, West Burton B, includes three combined-cycle gas turbines totaling 1.3 GW and a 49 MW battery storage system. This acquisition aligns with TotalEnergies' strategy to integrate renewable and flexible power generation. The company aims to divest 50% of these assets, addressing its 700 MW gas power generation needs. This move boosts TotalEnergies' UK renewable capacity, now at 1.1 GW, with an additional 4.5 GW under development. The acquisition strengthens trading capabilities and supports its goal of providing affordable, sustainable energy to 300,000 UK customers. The deal is subject to regulatory approval.
At the 2024 Suriname Energy Oil and Gas Summit, TotalEnergies (TTE) and Staatsolie announced significant progress toward the Final Investment Decision (FID) for Block 58, expected in Q4 2024. Production is set to commence in 2028. TotalEnergies holds a 50% interest, with APA and Staatsolie potentially holding 50% and up to 20% respectively. Key milestones include engineering studies for Sapakara and Krabdagu fields, estimated to hold over 700 million barrels of recoverable resources, and securing a 200,000 bpd FPSO unit. Advanced technologies like Water Alternating Gas (WAG) injection and Ocean Bottom Node (OBN) seismic technology will optimize recovery and development. The project emphasizes minimizing greenhouse gas emissions and enhancing local content and economic benefits for Suriname.
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.
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