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) has sanctioned the Ballymore development, located 120 kilometers off Louisiana in the Gulf of Mexico. Holding a 40% working interest, TotalEnergies aims to develop three production wells linked to the Chevron-operated Blind Faith Floating Production Unit. The project is set to produce 75,000 barrels of oil per day starting in 2025, utilizing existing infrastructure to minimize development costs and emissions. This swift development, just four years post-discovery, aligns with TotalEnergies' strategy focused on low breakeven and emissions oil projects.
TotalEnergies SE (TTE) has announced a share repurchase program following the shareholder meeting on May 28, 2021. The purchases occurred from May 9 to May 13, 2022, totaling 4,660,442 shares with a daily weighted average price of €49.57, amounting to €230,999,841.53. The repurchase is in compliance with EU Market Abuse Regulation, detailed transactions can be reviewed on TotalEnergies' website.
TotalEnergies (TTE) has launched a global drone-based campaign to detect and quantify methane emissions at its upstream Oil & Gas sites, utilizing its AUSEA technology, developed alongside CNRS and the University of Reims. This initiative aims for a 50% reduction in methane emissions by 2025 and 80% by 2030 compared to 2020 levels. The technology has been successfully tested in Nigeria, Italy, the Republic of the Congo, and the Netherlands. TotalEnergies previously halved its methane emissions from 2010 to 2020 and is committed to maintaining methane intensity below 0.1% across its gas facilities.
TotalEnergies (TTE) and Ørsted are collaborating to bid for the Dutch offshore wind tenders ‘Holland Coast West,’ targeting a combined capacity of 1.5 GW. This partnership aims to bolster the Netherlands' renewable energy goals, contributing to the objective of surpassing 70 GW of offshore capacity by 2050. Ørsted, a leader in sustainable offshore wind development, and TotalEnergies, leveraging its integrated energy expertise, focus on ecological impact and energy stability in their projects. The tender results are anticipated in Autumn 2022.
TotalEnergies (NYSE: TTE) has secured maritime lease area OCS-A 0545 during the Carolina Long Bay auction held on May 11, 2022, investing US$ 160 million for an offshore wind farm project off North Carolina. The lease spans 120 square nautical miles and aims to produce over 1 GW of clean energy, capable of powering more than 300,000 homes, with an expected launch by 2030. This project complements TotalEnergies' existing wind initiatives in the U.S., contributing to a broader goal of achieving 100 GW of renewable energy capacity by 2030.
TotalEnergies (TTE) has won a maritime lease area OCS-A 0545 in the U.S. from the Bureau of Ocean Energy Management for $160 million. This project, located 20 nautical miles off North Carolina, aims to develop an offshore wind farm with over 1 GW capacity, sufficient to power 300,000 homes, expected to be operational by 2030. This marks TotalEnergies' second offshore wind project in the U.S., complementing its goal of achieving 100 GW of renewable electricity generation worldwide by 2030.
TotalEnergies (TTE) has commenced construction on the Eolmed floating wind project off the coast of Gruissan and Port la Nouvelle. This 30 MW wind farm, featuring three 10 MW turbines, is set to begin production in 2024. TotalEnergies holds a 20% stake in the project, operated by Qair. The initiative aligns with environmental integration goals and supports local industry, mobilizing over 600,000 man-hours. This project is part of TotalEnergies' broader strategy to develop floating wind energy, with additional projects in France, South Korea, the UK, and the US.
TotalEnergies SE (Ticker: TTE) has announced share repurchases totaling 4,705,647 shares between May 2 and May 6, 2022. The transactions were conducted under the authorization from the shareholders' general meeting on May 28, 2021. The shares were purchased at an average price of €48.81, amounting to approximately €229.67 million. The company aims to enhance shareholder value through this buyback program, reflecting its commitment to sustainable financial growth.
TotalEnergies invites shareholders to its Ordinary and Extraordinary Shareholders’ Meeting set for May 25, 2022, at 10:00 a.m., in Paris. The meeting will be streamed live on their website. Shareholders can vote in advance via internet on the Votaccess platform or by postal voting and proxies. Important documents are available as of the convening notice date, and registered shareholders can request these documents for free up to five days before the meeting.
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