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.
The Board of Directors of TotalEnergies SE announced a second interim dividend for 2022 of €0.69 per share, marking a 5% increase from the previous year's dividends. This decision aligns with TotalEnergies' shareholder return policy outlined earlier in February 2022. The dividend will be paid in cash, with an ex-dividend date set for January 2, 2023, and payment on January 12, 2023. This reflects the company's commitment to enhancing shareholder value while maintaining its focus on sustainable development.
TotalEnergies (TTE) and Veolia have initiated construction of the largest solar photovoltaic system in Sur, Oman. The 17 MWp solar project will power the Sharqiyah Desalination plant, supplying drinking water to over 600,000 people. Expected to produce over 30,000 MWh annually, it will reduce CO2 emissions by approximately 300,000 tons. This initiative aligns with Oman's goal of 30% renewable energy by 2030. TotalEnergies aims to increase its renewable capacity to 100 GW by 2030, positioning itself as a leading clean energy provider.
TotalEnergies (Euronext: TTE) has commenced production at the Ikike field in Nigeria, with a 40% stake in partnership with Nigerian National Petroleum Corporation (NNPC). The project, located 20 kilometers offshore, is expected to reach a peak production of 50,000 barrels of oil equivalent per day by the end of 2022. The initiative emphasizes low costs and minimal greenhouse gas emissions, aiming for under 4 kg CO2e/boe. Additionally, 95% of the workforce was local, showcasing TotalEnergies' commitment to community engagement and sustainable practices.
Bayport Polymers LLC, a joint venture of TotalEnergies and Borealis, has launched a new ethane cracker in Port Arthur, Texas, with a production capacity of one million tons of ethylene per year. This $2 billion project utilized 14 million hours of work by over 2,500 workers during construction. The ethylene produced will support existing polyethylene units and a new Borstar technology polyethylene unit currently under construction. TotalEnergies cited this startup as a significant milestone in enhancing its petrochemical presence in the U.S.
Bayport Polymers LLC, a joint venture between TotalEnergies and Borealis, has begun commercial operations of a new ethane cracker in Port Arthur, Texas, with a capacity to produce one million tons of ethylene annually. This $2 billion project, employing over 2,500 workers at its peak, will supply ethylene as feedstock for existing polyethylene units and a new polyethylene unit currently under construction. TotalEnergies aims to bolster its petrochemical presence in the U.S., leveraging the abundant ethane supply.
TotalEnergies has announced its withdrawal from Myanmar's Yadana gas field and associated gas transportation company MGTC on July 20, 2022, due to ongoing human rights concerns. This decision, effective after a six-month notice, aligns with European sanctions from February 2022. The company has committed to a responsible exit by ensuring employment for its Myanmar workforce with the new operator, PTTEP, while establishing a fund to support local communities. TotalEnergies reiterates its condemnation of human rights abuses in Myanmar and supports the country's return to peace.
TotalEnergies (Paris:TTE) has initiated the first phase of front-end engineering and design (FEED) studies for the Papua LNG project, aimed at enhancing Papua New Guinea's LNG export capacity. The integrated FEED is expected to launch in Q4 2022, targeting a final investment decision by late 2023 and project startup by the end of 2027. The project emphasizes sustainability through a carbon capture and storage scheme. TotalEnergies is a leading low-carbon LNG company, holding a 10% market share globally and striving for a 50% gas sales mix by 2030.
TotalEnergies (Paris:TTE) has signed a 25-year extension of its Production Sharing Contract with Sonatrach, Occidental, and Eni for onshore Blocks 404a and 208 in the Berkine basin, Algeria. This agreement, under the new Algerian Hydrocarbon Law, aims to develop additional hydrocarbon resources and reduce carbon intensity. The partnership will also explore the potential for gas resource development to enhance export capabilities to Europe. This contract represents a strategic step in TotalEnergies' commitment to low-cost oil production while focusing on carbon reduction.
On the occasion of a state visit by Sheikh Mohamed bin Zayed Al Nahyan of the UAE, TotalEnergies (TTE) and Abu Dhabi National Oil Company (ADNOC) signed a strategic partnership agreement. The agreement focuses on developing oil and gas projects in the UAE, supplying diesel to France, and exploring a commercial carbon capture project. TotalEnergies has a significant presence in the UAE, producing 280,000 barrels of oil equivalent per day and holding various stakes in ADNOC's oil concessions. This partnership aims to enhance energy supply security and sustainability.
In the second quarter of 2022, TotalEnergies (TTE) reported an average Brent price of $113.9 per barrel, up from $102.2 in the previous quarter. Average liquids prices rose to $102.9 per barrel, with average gas price at $11.01 per Mbtu. Upstream production is projected to decrease by 0.1 Mboe/d due to maintenance and disruptions in Nigeria and Libya. Refining results are expected to be exceptional due to high distillate and gasoline cracks. Despite strong performance in gas and LNG trading, it may not replicate first-quarter highs.
FAQ
What is the current stock price of TotalEnergies SE (TTE)?
What is the market cap of TotalEnergies SE (TTE)?
What is TotalEnergies SE?
What are the core operations of TotalEnergies?
How much oil and gas does TotalEnergies produce daily?
What are TotalEnergies’ reserves as of 2022?
How much LNG did TotalEnergies sell in 2023?
Where are TotalEnergies’ refineries located?
In how many countries does TotalEnergies distribute refined products?
What is TotalEnergies’ renewable power generation capacity?
Does TotalEnergies operate in the chemical industry?
Where can I find the latest news about TotalEnergies?
