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 (Euronext: TTE) and Eni have discovered a significant gas reserve at the Cronos-1 well in Block 6, offshore Cyprus. This discovery, located about 160 km southwest of Cyprus, found over 260 meters of quality gas pay. The exploration success highlights TotalEnergies' commitment to a low-cost, low-carbon resource strategy aimed at enhancing energy security in Europe. An additional exploration well is planned to explore further resource potential. TotalEnergies holds a 50% interest in Block 6, which is operated by Eni.
TotalEnergies SE (Euronext: TTE) reported its share repurchase transactions from August 8 to August 12, 2022, under the program approved by its shareholders on May 25, 2022. A total of 4,898,311 shares were repurchased at an average price of €50.9460, totaling approximately €249.55 million. This strategic move reflects the company's commitment to enhancing shareholder value amidst ongoing market conditions.
TotalEnergies SE has reported share repurchases from August 1 to August 5, 2022, following a mandate from its May 25, 2022, shareholders’ meeting. A total of 4,971,519 shares were repurchased at a daily weighted average price of €48.8109, totaling €242,664,168.19. The transaction details are disclosed on the company’s website for transparency. This repurchase aligns with the company's strategy to enhance shareholder value.
A consortium led by TotalEnergies (TTE) has been pre-selected to develop two floating wind farms in the Mediterranean Sea, each with a capacity of approximately 250 MW. These projects aim to provide clean energy for nearly one million people, contributing to France's goal of achieving 40 GW of offshore wind capacity by 2050. The partnership will leverage each member's expertise to foster a local industrial value chain and enhance employment opportunities in the region.
TotalEnergies SE has announced share repurchases following authorization from its May 25, 2022, shareholders' meeting. On July 29, 2022, a total of 951,600 shares were repurchased at an average price of €49.3871 per share, amounting to approximately €46.99 million. The transactions occurred across various markets, including Euronext Paris and CEUX, with significant volumes recorded. The company aims to ensure sustainable energy access while adhering to regulatory requirements.
TotalEnergies SE filed its financial report for H1 2022 with the French Financial Markets Authority on July 29, 2022. The report is available for download on the company's website. TotalEnergies is a global multi-energy company involved in oil, biofuels, natural gas, renewables, and electricity. With over 100,000 employees, it operates in more than 130 countries, focusing on sustainable development to enhance energy accessibility.
TotalEnergies has strengthened its partnership with ADNOC by signing an agreement for ADNOC Distribution to acquire a 50% stake in TotalEnergies Marketing Egypt LLC for about $200 million. This follows a strategic partnership established during a recent state visit by UAE President Mohamed bin Zayed Al Nahyan. TotalEnergies Egypt operates 7% of service stations in Egypt, with the acquisition expected to complete in Q1 2023 pending regulatory approvals. The partnership aims to enhance TotalEnergies' operations and expand ADNOC's footprint in the Egyptian market.
TotalEnergies has unveiled its multi-energy strategy in Angola, launching the Begonia oil field, along with the Quiluma and Maboqueiro gas field developments and a photovoltaic project. The Begonia project, representing an investment of $850 million, will add 30,000 barrels daily to production. The Quiluma and Maboqueiro fields, Angola's first non-associated gas projects, will enhance LNG production capacity by mid-2026. Additionally, the Quilemba solar plant will have an initial capacity of 35 MWp. These initiatives align with TotalEnergies' commitment to a sustainable energy transition in Angola.
TotalEnergies reported a strong financial performance for 2Q22 with an IFRS net income of $5.7 billion and adjusted net income of $9.8 billion, both significantly up from the previous year. The company is accelerating its transformation with major investments in LNG, renewables, and green hydrogen projects, including a significant stake in Qatar's NFE LNG project and the acquisition of Clearway Energy Group. Cash flow from operations reached $16.3 billion, and the company announced a 5% increase in its interim dividend to €0.69/share. Despite a $3.5 billion impairment charge related to Russian assets, TotalEnergies remains focused on delivering shareholder returns and expanding its renewable portfolio.
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