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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 (Euronext:TTE) has entered a strategic partnership with Safran to develop solutions for decarbonizing the aviation industry. This collaboration aims for net zero CO2 emissions by 2050, focusing on sustainable aviation fuel (SAF). The partnership will enhance engine compatibility with SAF, optimize energy efficiency, and promote SAF use in aviation. Additionally, French regulations mandate SAF usage in flights, aligning with the European Green Deal's targets for increased SAF integration by 2030.
Mercedes-Benz has joined Stellantis and TotalEnergies as an equal partner in Automotive Cells Company (ACC), each holding a one-third stake. This collaboration aims to enhance ACC's battery cell capacity to at least 120 GWh by 2030, reflecting a commitment to the electric vehicle sector. The initiative, backed by over seven billion euros in investment, underscores the partners' ambition to establish a European battery champion, focusing on safety, performance, and a low carbon footprint. The move also aims to secure supply and economies of scale for electric mobility within Europe.
A consortium comprising TotalEnergies (TTE), Green Investment Group (GIG), and Qair has been pre-selected for a competitive tender to develop a 270 MW floating wind farm off Southern Brittany. The project aims to generate green energy for approximately 250,000 homes in France. The consortium plans to utilize local resources and knowledge, boosting Brittany's economy. With TTE's offshore expertise, GIG's financial backing, and Qair's local experience, the collaboration targets significant advancements in the floating wind industry, enhancing France's renewable energy capabilities.
TotalEnergies (NYSE:TTE) collaborates with Air Liquide to decarbonize hydrogen production at its Normandy platform in France. The project aims to supply low-carbon hydrogen using Air Liquide's hydrogen network and a large-scale CO2 capture system. Air Liquide will operate a 255 tons-per-day hydrogen unit, optimizing performance and establishing a low-carbon hydrogen network. The project could potentially reduce annual CO2 emissions by 650,000 tons by 2030. This initiative aligns with both companies' ambitions to reach net zero emissions by 2050.
TotalEnergies has restructured its Executive Committee, effective September 1, 2021. Nicolas Terraz takes over as President of Exploration & Production, while Namita Shah becomes President of OneTech, focusing on technical teams and R&D. Helle Kristoffersen is appointed President of Strategy & Sustainability. The new structure aims to enhance TotalEnergies' transformation into a broader energy company. Other committee members include Patrick Pouyanné (CEO), Stéphane Michel (Gas, Renewables & Power), and Jean-Pierre Sbraire (CFO).
TotalEnergies has signed major agreements with Iraqi ministries to enhance electricity supply in the Basra region. The investments, approximately $10 billion, focus on gas recovery from flaring, enabling 1.5 GW of initial power generation capacity, expanding to 3 GW. Additionally, a 1 GWac solar capacity will be developed. Projects include a gas gathering network, a seawater treatment unit to optimize oil production, and a photovoltaic power plant. These initiatives aim at sustainable development and improving energy access for Iraq’s population.
The City of Antwerp has awarded TotalEnergies (TTE) a significant contract to expand its public Electric Vehicle (EV) charging network. This prestigious contract is the largest of its kind in Belgium, allowing TotalEnergies to install new charging points by 2024, ensuring all electricity is sourced from green energy, notably offshore wind farms. The contract extends until 2038 for high power chargers, reinforcing TotalEnergies' position in the European electric mobility market and aligning with its goal of operating over 150,000 EV charge points by 2025.
On July 12, 2021, Hyzon Motors announced a memorandum of understanding (MoU) with TotalEnergies to develop hydrogen refueling and vehicle supply solutions for long-haul transport in Europe. The collaboration aims to facilitate fleet transitions to renewable hydrogen fuel, leveraging TotalEnergies' extensive service station network and Hyzon's hydrogen-powered trucks. The agreement builds on TotalEnergies' prior investment in Hyzon and includes plans to produce 80 hydrogen fuel cell trucks for French customers by 2023. The initiative supports the goal of net-zero emissions by 2050.
Total Specialties USA has partnered with Mighty Distributing System to distribute its range of lubricants in the automotive aftermarket. This collaboration will focus on the Quartz Ineo and Quartz 9000 sub-ranges, designed to meet stringent European OEM requirements. The lubricants feature Age-Resistance Technology for optimal engine protection and performance. Both companies share values of innovation and sustainability, aiming to enhance their service offerings to customers in the U.S. automotive service industry.
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