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 (NYSE:TTE) and APA Corporation announced a new oil and gas discovery at the Krabdagu-1 well in Block 58, offshore Suriname. This site, located 18 kilometers from Sapakara South, was drilled at a water depth of 780 meters, revealing approximately 90 meters of net oil pay across high-quality Maastrichtian and Campanian reservoirs. The exploration boosts the company’s resources in the area, supporting plans for further exploration and potential oil development by the end of 2022. TotalEnergies holds a 50% interest in Block 58, with APA Corporation owning the remaining share.
TortoiseEcofin announced that Suez SA will be removed from the Ecofin Global Water ESG Index due to its merger with Veolia Environment SA. This removal, effective February 18, 2022, follows index rules triggered by corporate actions like mergers. The Ecofin Global Water ESG Index includes companies engaged in water infrastructure and management. The announcement highlights TortoiseEcofin's commitment to essential assets and its role in this significant industry transaction.
TotalEnergies (TTE) and Honeywell have entered into a strategic partnership to enhance advanced plastic recycling. Under this agreement, Honeywell will supply TotalEnergies with Recycled Polymer Feedstock (RPF) produced at a new plant in Andalucía, Spain, expected to process 30,000 tons of plastic waste annually. This initiative aligns with TotalEnergies' goal of producing 30% recycled and renewable polymers by 2030. The UpCycle plant is set to begin operations in 2023, contributing to a circular economy and addressing plastic waste effectively.
TotalEnergies SE is executing its annual capital increase aimed at employees and former employees, intending to enhance employee shareholding. Up to 18 million shares, equivalent to €45 million (0.68% of capital), will be offered at a price reflecting a 20% discount from the average market price. The subscription period is scheduled from April 29 to May 13, 2022. This initiative supports employee engagement in the company's growth and aligns with its broader shareholding policies, as employees held 6.8% of the company's capital as of December 31, 2021.
TotalEnergies SE (TTE) reported share repurchase transactions on February 11, 2022, totaling 480,720 shares. The purchases were executed at a daily weighted average price of €52.0053, with a total transaction value of approximately €24.99 million. This action continues the company’s strategy of returning value to shareholders following the authorization from the May 28, 2021, shareholder meeting.
TotalEnergies has announced the ex-dividend dates for 2023, impacting shareholders' financial planning. The first interim dividend will have an ex-dividend date on September 20, 2023, followed by the second interim dividend on January 2, 2024, and the third interim dividend on March 20, 2024. The final dividend is set for June 19, 2024. These dates are critical for investors looking to benefit from potential income distributions.
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.
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