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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 has commenced production at the Mero field in the Libra block, located over 150 kilometers off the coast of
TotalEnergies reported a $4.1 billion impairment related to its Russian operations amid ongoing geopolitical tensions. Despite this, the company posted an IFRS net income of $4.9 billion for Q1 2022, down 15% from the previous quarter but up 48% year-on-year. Adjusted net income reached $9 billion, marking a 32% increase. The company generated cash flow from operations of $7.6 billion, a significant decrease of 34%. Additionally, TotalEnergies declared a 5% increase in its interim dividend to €0.69 per share, while expanding its sustainable energy investments, including offshore wind projects.
The Board of Directors of TotalEnergies SE (TTE) declared an interim dividend of €0.69/share for 2022, marking a 5% increase from previous dividends. This decision aligns with the company's shareholder return policy announced earlier in 2022. The ex-dividend date is set for September 21, 2022, with payment scheduled for October 3, 2022. TotalEnergies continues to focus on producing sustainable energy across more than 130 countries, maintaining its commitment to affordable and cleaner energy solutions.
TotalEnergies’ Board of Directors has decided not to include a draft shareholder resolution in the agenda for the upcoming Annual Shareholders’ Meeting, citing non-compliance with French legal rules. The proposed resolution sought to impose mandatory greenhouse gas reduction targets, infringing on the Board's prerogative to define the Company's strategy. The Board remains committed to dialogue with shareholders, inviting feedback during the meeting. As part of its transparency efforts, TotalEnergies will annually publish a Sustainability & Climate report detailing its energy transition strategy and GHG reduction targets.
On March 22, 2022, TotalEnergies announced they will no longer book proved reserves for the Arctic LNG 2 project due to uncertainties from sanctions affecting its execution. Following new European sanctions on April 8, 2022, the company reported an impairment of $4.1 billion related to this project, effective March 31, 2022. TotalEnergies is a global multi-energy company focused on producing and marketing various energy sources, including oil, natural gas, and renewables.
TotalEnergies (TTE) is enhancing its foothold in the U.S. renewable energy market by acquiring Austin-based Core Solar, LLC. This acquisition adds over 4 GW of utility-scale solar and energy storage projects to TotalEnergies' portfolio, which now exceeds 10 GW of gross capacity across various U.S. states. The move aligns with TotalEnergies' goal to reach 100 GW of renewable projects by 2030. Core Solar’s team will integrate into TotalEnergies, leveraging their expertise to accelerate growth in the solar sector.
TotalEnergies SE (LSE:TTE) has announced the irrevocable redemption of its €1,750,000,000 Undated Non-Call 6 Year Deeply Subordinated Fixed Rate Resettable Notes, originally issued on 18 May 2016. The redemption will occur on 18 May 2022, with a redemption price of €103,875.00 per €100,000 denomination, including any accrued interest. Following redemption, the notes will be cancelled. This action is part of TotalEnergies' ongoing financial strategy, and relevant ISIN and Common Code numbers are provided for the convenience of noteholders.
TotalEnergies (Paris:TTE) has reported a significant increase in its first quarter 2022 results. Key highlights include a Brent price rise to $102.2/b, compared to $79.8/b in Q4 2021, with average liquids prices increasing to $90.1/b from $72.6/b. The average gas price also rose to $12.27/Mbtu from $11.38/Mbtu. The European refining variable cost margin surged to $46.3/t, up from $16.7/t in Q4 2021. Sensitivities indicate that a $10 increase in average liquids prices could boost adjusted net income by approximately $2.7 billion.
TotalEnergies and ENEOS Corporation have initiated a collaboration to conduct a feasibility study for producing Sustainable Aviation Fuel (SAF) at ENEOS's Negishi Refinery in Yokohama, Japan. The study will focus on feedstock procurement, using waste such as used cooking oil and animal fat, aiming for a capacity of 300,000 tons per year by 2025. This partnership combines TotalEnergies' expertise in SAF production with ENEOS’s refinery capabilities, addressing Japan's growing demand for aviation fuel and contributing to the decarbonization goal of a 10% SAF usage by 2030.
TotalEnergies (Euronext: TTE) and ENEOS (OTC-PINK: JXHLY) have established a 50/50 joint venture to develop decentralized solar power generation in Asia, targeting a capacity of 2 GW over five years. This partnership aims to combine TotalEnergies' global expertise and ENEOS' strong brand presence in Japan, which positions them competitively within the renewable energy sector. Completion of the deal is anticipated in Q2 2022, pending regulatory approvals. This initiative aligns with TotalEnergies' goal to achieve 100 GW of renewable capacity by 2030.
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