Totalenergies Se Stock Price, News & Analysis

TotalEnergies announces participation in the UK's first Carbon Capture and Storage (CCS) project through the Northern Endurance Partnership (NEP), where it holds a 10% stake. The project will store up to 4 million tonnes of CO2 annually, serving three carbon capture projects in the Teesside region. The infrastructure includes an onshore CO2 gathering network, compression facilities, and a 145 km offshore pipeline connected to subsea injection facilities in the Endurance saline aquifer.

Construction is scheduled to begin in mid-2025, with first CO2 storage expected in 2028. The project aims to support the UK's net zero emissions target by 2050 and will contribute to TotalEnergies' objective of developing significant CO2 storage capacities in the North Sea.

TotalEnergies has completed the acquisition of SapuraOMV, acquiring 100% interest through purchasing OMV's 50% and Sapura Upstream Assets' 50% stakes. The key assets include a 40% operated interest in block SK408 and 30% operated interest in block SK310, both located offshore Sarawak, Malaysia.

The operations are expected to reach approximately 590 Mcf/d of natural gas production in 2024, supported by the Jerun gas field startup in July. The production will supply the Bintulu LNG plant operated by Petronas, along with 10 kb/d of condensates. The assets demonstrate strong operational efficiency with production costs below $5/boe and emission intensity under 10 kg CO2e/boe.

TotalEnergies (TTE) announces two strategic transactions in its renewable energy portfolio: the acquisition of VSB Group in Germany for €1.57 billion and the sale of 50% stake in a 2 GW solar and battery storage portfolio in Texas to Apollo for $800 million.

VSB Group, with 500 employees and 30 years of experience, brings 475 MW of operational/under-construction capacity and an 18 GW pipeline across Germany, Poland, and France. This acquisition strengthens TotalEnergies' position in Germany and complements recent acquisitions of Kyon Energy and Quadra Energy.

The U.S. transaction includes three solar projects (1.7 GW) and two battery storage projects (300 MW). TotalEnergies will retain 50% ownership and continue operating the assets. These moves align with TotalEnergies' strategy to optimize capital allocation in renewables and achieve its 12% profitability target for the Integrated Power business.

TotalEnergies and Aljomaih Energy and Water Company have signed a 25-year Power Purchase Agreement with Saudi Power Procurement Company for a 300 MW solar power project called Rabigh 2. The project, part of Saudi Arabia's National Renewable Energy Program Round 5, aims to achieve a 50-50 mix of gas and renewable energy for electricity production by 2030. The solar plant will be connected to the grid in 2026. This follows TotalEnergies' ongoing construction of the 119 MW Wadi Al Dawasir solar plant, set to operate in early 2025. The company aims to reach 35 GW of renewable electricity capacity by 2025.

Aramco, TotalEnergies (TTE), and Saudi Investment Recycling Company (SIRC) have signed a Joint Development and Cost Sharing Agreement to assess the development of a sustainable aviation fuels (SAF) production unit in Saudi Arabia. The facility aims to convert local residues from the circular economy, such as used cooking oil and animal fats, into SAF. The collaboration aligns with Saudi Arabia's Green Initiative and Vision 2030 objectives, targeting the growing aviation sector's need for lower-carbon alternatives. The project represents a strategic step towards addressing aviation emissions and supporting the energy transition in oil and gas producing countries.

TotalEnergies marks 50 years of operations in Saudi Arabia during French President Macron's state visit, highlighting its strategic energy partnership with the Kingdom. The company operates major projects including SATORP, its largest refining platform globally, jointly held with Aramco (62.5%) and TotalEnergies (37.5%) with a 460,000 barrels daily capacity.

Key developments include the $11 billion Amiral petrochemical complex construction, scheduled for 2027 completion, and renewable energy projects such as the Wadi Al Dawasir solar plant (119 MW) and Rabigh 2 solar project (300 MW). The company is also advancing in sustainable aviation fuels (SAF) production through partnerships with Aramco and SIRC, planning to process used cooking oil at SATORP from 2026.

TotalEnergies SE has reported its share repurchase transactions conducted from November 25 to November 29, 2024. The company purchased a total of 3,912,734 shares at an average price of €54.95 per share, with a total transaction value of €214,999,877.34. The purchases were executed across multiple trading venues including XPAR, CEUX, TQEX, and AQEU, in accordance with shareholder authorization granted on May 24, 2024.

TotalEnergies SE has reported share repurchase transactions conducted from November 18 to November 22, 2024. The company purchased a total of 3,658,246 shares at an average price of €57.39 per share, with a total transaction value of €209,940,968.89. The purchases were executed across multiple trading venues including XPAR, CEUX, TQEX, and AQEU, in accordance with shareholder authorization granted on May 24, 2024.

TotalEnergies has responded to the US authorities' indictment of certain Adani group executives regarding an alleged corruption scheme linked to Adani Green Energy (AGEL). The company, which holds a 19.75% minority stake in AGEL and 50% stakes in joint venture projects, emphasizes that neither AGEL nor its related companies are targeted in the indictment. TotalEnergies will suspend new financial contributions to Adani group investments until the accusations are clarified, while maintaining that its previous investments were made in compliance with applicable laws and internal governance processes.