TotalEnergies SE - TTE STOCK NEWS

TotalEnergies and the Rwanda Development Board signed a Memorandum of Understanding to collaborate on energy projects in Rwanda. The scope includes distribution of energy products, supply of LPG, renewable hydro-electricity, power storage solutions, carbon storage development, and education on energy transition. TotalEnergies also announced the establishment of TotalEnergies Marketing Rwanda Ltd and a permanent office in Kigali. CEO Patrick Pouyanné emphasized the commitment to Africa's energy sector, while Rwanda's CEO Clare Akamanzi highlighted the importance of skills transfer in renewable energies.

TotalEnergies (Euronext: TTE) has agreed to sell a 20% stake in the Greater Laggan Area fields and the Shetland Gas Plant to Kistos Energy Limited for a total of $125 million. The deal includes two contingent payments of up to $40 million linked to gas prices in 2022 and potential future developments. This transaction awaits UK regulatory approval. Following the sale, TotalEnergies will maintain a 40% interest in the fields, which produced approximately 8,000 barrels of oil equivalent per day in 2021.

TotalEnergies (Paris:TTE) and CMA CGM have launched the first ship-to-containership LNG bunkering operation in the Port of Marseille Fos, Southern France. The operation utilized the Gas Vitality, marking a significant step in supporting LNG's role in the maritime energy transition. The BALI, an LNG-powered containership, was refueled with approximately 6,000 m³ of LNG while simultaneously handling cargo operations. TotalEnergies aims to establish Marseille as an LNG bunkering hub in the Mediterranean.

TotalEnergies has announced its decision to withdraw from the Yadana gas field and MGTC in Myanmar due to worsening human rights conditions since the February 2021 coup. Despite halting ongoing projects, it will continue gas production to ensure supply to local populations. The withdrawal, which will be effective within six months, is being undertaken without financial compensation. TotalEnergies aims to facilitate a smooth transition to a new operator while addressing stakeholder concerns about revenue flows to the Burmese government via MOGE.

TotalEnergies has partnered with Masdar and Siemens Energy to co-develop a green hydrogen project aimed at producing sustainable aviation fuel (SAF) at a demonstrator plant in Masdar City, Abu Dhabi. This collaboration was announced during Abu Dhabi Sustainability Week 2022. The project seeks to establish the commercial viability of green hydrogen as a decarbonized fuel, with TotalEnergies contributing its expertise in SAF manufacturing. This initiative aligns with TotalEnergies' goal to achieve net-zero emissions by 2050.

The joint venture of TotalEnergies (38.25%), Macquarie’s Green Investment Group (GIG) (46.75%), and RIDG (15%) has secured rights for a 2 GW offshore windfarm in the N1 area of the ScotWind leasing round. Located 30km off the west coast of Orkney, the West of Orkney Windfarm aims to generate renewable power by 2030, potentially attracting over GBP£4 billion in investments. A £140m initiative will enhance local supply chains and create jobs. This marks TotalEnergies' largest renewable project in Europe, contributing to their goal of reaching 100 GW of renewable capacity by 2030.

TotalEnergies SE (TTE) reported significant performance improvements in Q4 2021. Key highlights include an increase in Brent oil prices to $79.8 per barrel, up from $44.2 a year prior. The average gas price surged to $11.38 per Mbtu, while LNG prices also climbed to $13.12 per Mbtu. The variable cost margin for European refining reached $16.7 per ton, demonstrating strong operational efficiency. The financial data reflects TotalEnergies' robust positioning amid rising commodity prices, suggesting potential positive impacts on future earnings.

TotalEnergies (Euronext Paris: TTE) has announced an agreement to sell its stake in Angola Block 14 B.V. to Somoil, pending Angolan authorities' approval. The venture, co-owned with Inpex, holds a 20% interest in Angola's Block 14 and a 10% interest in Block 14K. In 2021, net production from Angola Block 14 B.V. was 9,000 barrels of oil equivalent per day. This divestment aligns with TotalEnergies' strategy to enhance its oil portfolio by focusing on low-cost, low-emission assets. The company continues to lead the Angolan energy market, operating key projects in oil, LNG, and renewable energy.

Thierry Pflimlin has been appointed as the President of Marketing & Services at TotalEnergies, a global multi-energy company. Pflimlin has extensive experience, having joined the Total Group in 1984 and holding leadership roles in various regions, including Asia and France. He has been a key member of the Executive Committee since 2021. TotalEnergies focuses on producing and marketing a range of energies, striving for sustainability and accessibility in its operations, with 105,000 employees across over 130 countries.