TotalEnergies SE - TTE STOCK NEWS

TotalEnergies has finalized the divestiture of its 18% stake in the Sarsang oil field in Kurdistan, Iraq, to ShaMaran Petroleum Corp. for a total of $155 million. An additional contingent payment of $15 million is available based on production and oil prices. The Sarsang field produced approximately 3,500 barrels per day in 2021, and TotalEnergies retains a 22.5% interest in the Halfaya oil field in Iraq, with total production around 14,000 boe per day. This move aligns with the company’s strategic focus on optimizing its asset portfolio.

TotalEnergies (TTE) has partnered with Denmark's Technical University (DTU) to establish the DTU-TotalEnergies Excellence Center of Clean Energy. This center will focus on developing low-emission energy solutions and enhancing renewable energy reliability. Located at the Risø campus near Copenhagen, the center will drive advancements such as a hybrid electric platform and multi-energy training for employees. TotalEnergies aims to increase its renewable electricity capacity from over 10 GW in 2021 to 100 GW by 2030, continuing its commitment to sustainable energy development.

TotalEnergies (Paris:TTE) has been appointed by the Flemish government to install up to 4,400 electric vehicle charging points in West Flanders and Flemish Brabant. This project, utilizing 100% renewable offshore wind energy, aims to enhance electric mobility and contribute to the regional target of 35,000 charge points by 2025. The partnership will leverage a collaborative platform for charge point requests. TotalEnergies is solidifying its position in Belgium's electric mobility sector, with a significant portfolio of charging stations already established across multiple cities.

TotalEnergies SE announced share repurchases from August 22 to August 26, 2022, following a shareholder meeting resolution. The total purchases during this period amounted to 4,637,256 shares at a daily weighted average price of €53.9112, totaling approximately €249,999,908.05. The breakdown of daily transactions, including volumes and prices, can be found on their website. This move is part of their strategy to enhance shareholder value.

TotalEnergies (TTE) has signed a groundbreaking agreement with Yara for CO₂ transport and storage from Yara's Sluiskil ammonia plant in the Netherlands. Starting in early 2025, the initiative will capture 800,000 tons of CO₂ annually, which will be stored 2,600 meters below the seabed off Norway. This milestone is significant for European industrial decarbonization and sets a precedent for carbon capture and storage (CCS) services. TotalEnergies aims to achieve a CO₂ storage capacity of over 10 million tons annually by 2030.

On March 22, 2022, TotalEnergies (Euronext: TTE) condemned Russia's military actions in Ukraine while affirming compliance with European sanctions. The company announced a gradual suspension of operations in Russia unrelated to European energy security, including mothballing assets like the Kharyaga oil project. In line with these actions, TotalEnergies sold its 20% stake in Kharyaga on August 3, 2022, and a 49% interest in the Termokarstovoye field on August 26, 2022. These moves aim to balance responsibility towards energy supply to Europe with adherence to sanctions.

TotalEnergies, along with INPEX and Woodside, has secured a greenhouse gas storage permit in Australia for the Bonaparte CCS Assessment project. This initiative aims to evaluate and appraise block G-7-AP for CO₂ geological storage, starting in 2023. The project aligns with TotalEnergies' strategy for carbon capture and storage (CCS) and its ambition to achieve net zero emissions by 2050. They plan to develop over 10 million metric tons of CO₂ storage capacity per year by 2030 to support low-carbon LNG production.

TotalEnergies (TTE) and SSE Renewables announced the first power generation from the 1,075 MW Seagreen offshore wind farm, located 27 km off the coast of Angus, Scotland. This project represents a significant milestone for TTE as it is set to be Scotland's largest and the world's deepest fixed bottom offshore wind farm, costing $4.3 billion. Once fully operational, it will generate approximately 5 TWh of renewable electricity annually, enough to power 1.6 million households. TTE aims to reach 35 GW of renewable capacity by 2025.

TotalEnergies SE announced share repurchases from August 15 to August 19, 2022, authorized by shareholders on May 25, 2022. During this period, the company repurchased a total of 4,768,253 shares at a daily weighted average purchase price of 51.8009 EUR, accumulating a total transaction amount of 246,999,908.70 EUR. These transactions were executed across various markets including XPAR, CEUX, and TQEX. The company continues to maintain a focus on sustainable development while engaging in share buyback as part of its capital management strategy.