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 reported a robust performance for Q4 2021, benefiting from favorable market conditions and high energy prices. The company generated $15.8 billion in net cash flow for the year and an adjusted net income of $18.1 billion, reflecting a 16.9% return on equity. The average Brent oil price increased by 80% year-on-year, while LNG prices surged by 270%. The Board announced a dividend of €0.66 per share. The company maintains a low net-debt-to-capital ratio of 15.3% and plans to invest $14-15 billion in 2022, with a focus on renewable energy growth.
TotalEnergies (Euronext Paris: TTE) has announced its withdrawal from the North Platte deepwater project in the U.S. Gulf of Mexico, where it held a 60% operated interest. The decision was made to focus its capital on better opportunities within its global portfolio. The company has notified its partner, Equinor (40%), and relevant authorities about this decision, which will lead to an orderly handover of operatorship. This strategic move reflects TotalEnergies' commitment to optimizing its resource allocation.
TotalEnergies has announced a definitive agreement to acquire SunPower's Commercial & Industrial Solutions (CIS) business for $250 million, including up to $60 million in earn-outs. This acquisition enhances TotalEnergies’ presence in the U.S. distributed generation market, aiming for an additional 100 MW of capacity per year. SunPower will redirect its focus towards residential solar services, streamlining its operations for growth. The transaction is expected to close by early Q2, subject to customary conditions.
TotalEnergies has announced a definitive agreement to acquire SunPower's Commercial & Industrial Solutions (CIS) business for $250 million, including $60 million in earn-outs, subject to regulatory approval. This move aims to expand TotalEnergies' distributed generation business in the U.S., adding roughly 100 MW of capacity annually. The acquisition aligns with TotalEnergies' strategy to enhance its renewable energy portfolio while allowing SunPower to focus on its burgeoning residential market. Expected to close in early Q2, the deal won't affect TotalEnergies' majority stake in SunPower.
On February 9, 2022, TotalEnergies SE (Euronext: TTE) announced a share capital decrease by canceling 30,665,526 treasury shares, representing 1.16% of its capital. This cancellation, executed from November 8 to December 22, 2021, reduces the total shares to 2,609,763,803, with voting rights totaling 2,769,135,419. The transaction does not alter the company's consolidated financial statements or impact earnings per share.
TotalEnergies continues as a global multi-energy company dedicated to producing and marketing sustainable energy across more than 130 countries.
TotalEnergies and Veolia have entered a partnership to produce biomethane from Veolia's waste and water treatment facilities across over 15 countries. The initiative aims to generate up to 1.5 terawatt-hours (TWh) of biomethane annually by 2025, enough to power 500,000 homes while cutting CO2 emissions by 200,000 tons per year. TotalEnergies will market this renewable gas as fuel for mobility and alternatives to natural gas. This collaboration aligns with sustainable development goals and underscores TotalEnergies' commitment to becoming a major player in renewables.
On February 1, 2022, TotalEnergies announced the final investment decision for the Lake Albert Development Project in Uganda and Tanzania, with a total investment of approximately $10 billion. This project includes the Tilenga and Kingfisher oil projects and the East African Crude Oil Pipeline (EACOP), expected to produce 230,000 barrels per day by 2025. TotalEnergies aims to implement sustainability measures and biodiversity action plans while focusing on local development, renewable energy, and low-emission strategies.
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