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 is withdrawing from its Russian assets while maintaining gas supply to Europe. It holds a 19.4% stake in Novatek but is currently unable to sell it due to shareholder agreements and sanctions. TotalEnergies has decided to withdraw its directors from Novatek's board, leading to an impairment loss of approximately $3.7 billion for Q4 2022. Consequently, it will no longer account for its stake in Novatek as significant influence, affecting its proved reserves of about 1.7 billion barrels but maintaining a production life of over 11 years.
TotalEnergies Foundation has allocated €200 million for the period 2023-2027 to support education and inclusion initiatives for vulnerable youth. In the recent call for partners, 26 projects benefiting nearly 55,000 young people were selected from 200 applications. The foundation aims to enhance job and education opportunities while supporting groups like those emerging from child protective services. Senior executives emphasized the importance of partnerships in amplifying social impact through innovative educational programs.
TotalEnergies and Air France-KLM have signed a 10-year Memorandum of Understanding (MoU) for the delivery of over 800,000 tonnes of Sustainable Aviation Fuel (SAF), beginning in 2023. This SAF, produced at TotalEnergies' biorefineries, will reduce CO2 emissions by at least 80% compared to fossil fuels. The partnership reinforces their long-standing collaboration aimed at decarbonizing the aviation sector. TotalEnergies plans to produce 1.5 million tonnes of SAF by 2030, further supporting environmental goals.
TotalEnergies has announced the sale of its affiliate, Total E&P Dunga GmbH, which holds a 60% interest in the Dunga oil field, to Oriental Sunrise Corp Ltd for
TotalEnergies SE has announced its share repurchase program authorized on May 25, 2022. Between November 21 and November 25, 2022, a total of 3,978,541 shares were repurchased at an average price of €57.81, amounting to €229,999,859.14. The purchases were conducted across various markets including XPAR, CEUX, TQEX, and AQEU. This move is part of the company’s strategy to enhance shareholder value through the buyback of shares.
TotalEnergies responded to Bloom's open letter dated October 17, 2022, regarding its gas exploration project in South Africa. CEO Patrick Pouyanné confirmed the application for a production license filed on September 5. An environmental impact assessment is underway to outline economic, social, and environmental impacts. Notably, TotalEnergies has already reduced the license application's scope by excluding a protected marine area. This project aims to replace coal with gas, reducing CO2 emissions and air pollution in South Africa, and is accompanied by renewable energy initiatives, including solar projects.
TotalEnergies (Paris:TTE) and Air Liquide are collaborating to produce renewable hydrogen at the Grandpuits platform, with Air Liquide investing over €130 million. This new unit, utilizing biogas from TotalEnergies' biorefinery, will produce over 20,000 tons of low-carbon hydrogen annually, capturing over 110,000 tons of CO2. The project aligns with their goal to decarbonize hydrogen usage by 2030, contributing to a total investment over €500 million towards sustainable energy solutions aimed at achieving net zero emissions by 2050.
TotalEnergies (Euronext: TTE) has completed the joint acquisition of 8.16% of the Waha concessions in Libya from Hess, increasing its interest from 16.33% to 20.41%. This acquisition supports Libya's National Oil Corporation in boosting oil production and reducing gas flaring for power generation. The company is also advancing a 500 MWp solar plant project in partnership with Gecol to enhance renewable electricity supply. TotalEnergies has been active in Libya since 1954, with current production at 84,000 boe/d.
TotalEnergies (TTE) has signed a Framework Agreement with ENI and the State of Israel to implement a maritime boundary agreement with Lebanon, established on October 27, 2022. TotalEnergies operates Block 9 in Lebanon with a 60% interest, and exploration of prospects extending into Israeli waters will begin shortly. Preparations include team mobilization and equipment procurement. CEO Patrick Pouyanné highlighted the company's commitment to assessing hydrocarbon resources and production potential in the newly defined area.
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