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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 (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.
TotalEnergies SE (Euronext: TTE) announced share repurchases from June 20 to June 27, 2022, with a total of 5,371,822 shares acquired at an average price of €49.49, totaling €265,864,385.36. The transactions were conducted under the authorization from the shareholders’ general meeting held on May 25, 2022. The report includes detailed daily purchase volumes and prices per transaction. For more information, a full breakdown of trades is available on the TotalEnergies website.
TotalEnergies SE (TTE) announces share repurchases from June 13 to June 17, 2022, totaling 4,700,530 shares at an average price of €52.9669. The total transaction value amounted to €248,972,448.57. This move follows the authorization from the shareholders' meeting on May 25, 2022, aimed at enhancing shareholder value and managing the capital structure. The detailed transaction breakdown can be found on TotalEnergies' website.
TotalEnergies (TTE) has acquired a 49% stake in Compagnie des Bois du Gabon (CBG), enhancing its commitment to sustainable forestry management. This partnership aims to balance sustainable wood harvesting with biodiversity conservation and carbon storage. CBG manages 600,000 hectares of FSC-certified forest in Gabon. The collaboration aligns with Gabon's 'Green Gabon' vision and seeks to generate significant carbon credits, with TotalEnergies planning to invest $100 million annually to achieve a target of 5 million metric tons of CO2e credits by 2030.
TotalEnergies (TTE) has acquired a 25% stake in Adani New Industries Limited (ANIL) to establish a platform for green hydrogen production in India. The venture aims to produce 1 million metric tons of green hydrogen annually by 2030, supported by 30 GW of renewable power capacity. ANIL will also focus on manufacturing equipment and producing derivatives like fertilizers and methanol. The partnership combines Adani's market knowledge with TotalEnergies' expertise in renewable technologies, aiming to make green hydrogen cost-effective and support India's energy transition.
TotalEnergies SE (TTE) announced share repurchases conducted from June 6 to June 10, 2022, as authorized by shareholders on May 25, 2022. A total of 4,068,817 shares were bought back at an average price of €55.758, totaling €226,869,278.18. The transactions were executed across various markets including XPAR and CEUX. For detailed transaction breakdowns, investors can visit TotalEnergies' website. This action reflects the company's commitment to enhancing shareholder value through active capital management.
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