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) reported strong financial performance for Q1 2023, achieving a net income of $5.6 billion, up 70% from Q4 2022. However, adjusted net income declined by 13% to $6.5 billion compared to Q4 2022, driven by lower oil and gas prices and a significant drop in adjusted EBITDA by 11% to $14.2 billion. Key highlights include cash flow from operations of $5.1 billion and a net-debt-to-capital ratio of 11.5%. The company confirmed a 7.25% increase in the interim dividend, now set at €0.74 per share. Notable acquisitions include a 34% stake in Casa dos Ventos, enhancing renewable energy capacity to 18 GW. Despite production growth of 2%, total hydrocarbon production fell 10% year-on-year due to external factors. TotalEnergies aims for $16-18 billion in net investments in 2023, including $5 billion in low-carbon energies.
The Board of Directors of TotalEnergies SE (Euronext Paris: TTE) convened on April 26, 2023, confirming a capital increase reserved for employees and former employees. The company ranked second among European firms for employee share ownership, with over 65% of its employees holding 7.4% of the share capital, valuing approximately 10 billion euros. In 2022, these employees received around 700 million euros in dividends. The initiative is aimed at enhancing employee engagement and aligning their interests with shareholders. TotalEnergies has committed to annual capital increases for its employees, reflecting a shift from biennial increases since 2015.
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