TotalEnergies SE - TTE STOCK NEWS

TotalEnergies (Euronext: TTE) has partnered with Plastic Energy Ltd. and Freepoint Eco-Systems to establish an advanced recycling plant in Texas, aiming to process 33,000 tons of end-of-life plastic waste annually. The project, set to begin operations in mid-2024, will convert plastic waste into TACOIL, which TotalEnergies will use to produce virgin-quality polymers for food-grade packaging. This venture supports both sustainability goals and the circular economy.

TotalEnergies has launched its UK Offshore Wind Hub in Aberdeen, emphasizing its commitment to the energy transition and local industry growth. The Hub will facilitate the transition of staff from oil and gas to offshore wind as TotalEnergies expands its UK operations. In partnership with Macquarie's Green Investment Group and Renewable Infrastructure Development Group, the company proposed a £140 million initiative to bolster the Scottish supply chain and infrastructure. Should the West of Orkney Windfarm project be selected, the investment aims to develop local skills and enhance port facilities.

TotalEnergies SE (Euronext Paris:TTE) reported significant performance metrics for Q3 2021, highlighting an increase in Brent prices to $73.5 per barrel and average liquids price at $67.1 per barrel. The average gas price soared to $6.33 per Mbtu, reflecting a notable rise from previous quarters. The Variable Cost Margin for European refining reached $20.5 per ton, up from $10.2 in Q2 2021. These results showcase TotalEnergies' resilience amid fluctuating market conditions and underline strong pricing power in energy commodities.

TotalEnergies (TTE) and Simply Blue Group have formed a joint venture, TotalEnergies SBE US, aimed at developing floating offshore wind projects in the U.S. This partnership leverages TotalEnergies' expertise in large-scale offshore projects and Simply Blue's knowledge in floating wind technology. By 2030, TotalEnergies aims to achieve a global renewable power generation capacity of 100 GW, with significant contributions from this joint venture. Currently, TotalEnergies has over 6 GW of offshore wind projects under development worldwide, over 40% of which are floating.

Offshore Wind Power Limited (OWPL), a consortium including TotalEnergies (TTE), has proposed the West of Orkney Windfarm to power a green hydrogen production facility on Flotta Island, Scotland. This initiative aims to utilize offshore wind energy to support Scotland's transition to a hydrogen economy, with significant backing from local stakeholders and partners like Repsol Sinopec and Uniper. The proposal highlights Flotta's ideal conditions for green hydrogen production and the consortium's commitment to long-term energy sustainability.

TotalEnergies (TTE) is advancing its efforts toward sustainable development by implementing Qnergy's innovative technology to reduce methane emissions on the Barnett gas field in the U.S. Following successful pilot tests conducted in March 2021, the deployment of 100 units in 2021 and 2022 is expected to cut methane venting emissions by about 7,000 tons annually by 2024. TotalEnergies aims for a 20% reduction in absolute methane emissions from 2020 levels by 2025, building on a nearly 50% reduction since 2010.

TotalEnergies Petrochemicals & Refining USA, Inc. announces its partnership with the Polypropylene Recycling Coalition to enhance curbside recycling access for polypropylene. This initiative aligns with the company's goal of producing 30% recycled and renewable polymers by 2030. The coalition aims to increase polypropylene recycling rates similar to other plastics like PET and HDPE, through grants, consumer education, and infrastructure improvements.

TotalEnergies has strengthened its renewable energy portfolio through Adani Green Energy's acquisition of SB Energy India from SoftBank Group and Bharti Group. The deal, valued at approximately USD 3.5 billion, allows TotalEnergies to add about 1.4 GWp of capacity to its projects. SB Energy India boasts a total renewable capacity of 5 GWac, primarily consisting of solar and wind energy projects with long-term contracts. This acquisition is pivotal for TotalEnergies in achieving its goal of 35 GW of renewable capacity by 2025 and securing a position in the top 5 renewable energy producers globally by 2030.