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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 announces the start of production from the Fenix gas field, located 60 km off the coast of Tierra del Fuego in Southern Argentina. The field is part of the Cuenca Marina Austral 1 (CMA-1) concession, where TotalEnergies holds a 37.5% operated interest. With a production capacity of 10 million cubic meters per day (70,000 boe/d), Fenix features a new unmanned platform connected to existing CMA-1 facilities.
The gas is processed onshore at the Río Cullen and Cañadon Alfa facilities. Fenix is characterized as a low cost, low emissions development, with a carbon intensity of 9 kg CO2e/boe. The project was completed safely and ahead of schedule, just two years after the final investment decision. TotalEnergies, operating in Argentina since 1978, is the country's leading international gas producer, operating about 25% of production. The company's equity share of production averaged 88,000 barrels of oil equivalent per day in 2023.
TotalEnergies has extended its LNG supply agreement with CNOOC for an additional 5 years, committing to deliver 1.25 million tons of LNG per year to China until 2034. This extension strengthens TotalEnergies' position in the growing Chinese market, where natural gas plays a important role in the energy transition. The agreement allows TotalEnergies to secure long-term sales in Asia and reduce exposure to spot market gas prices.
As the world's third-largest LNG player, TotalEnergies boasts a global portfolio of 44 Mt/y in 2023. The company aims to increase natural gas's share in its sales mix to nearly 50% by 2030, focusing on reducing carbon emissions and eliminating methane emissions in the gas value chain.
TotalEnergies (TTE) has signed a Heads of Agreement (HoA) with BOTAŞ to supply 1.1 million tons of LNG per year for 10 years, starting from 2027. This long-term agreement strengthens TotalEnergies' presence in the Turkish LNG market and helps secure long-term sales while reducing exposure to spot market gas price fluctuations. As the world's third-largest LNG player, TotalEnergies aims to increase natural gas in its sales mix to nearly 50% by 2030, focusing on reducing carbon emissions and eliminating methane emissions in the gas value chain.
TotalEnergies SE (TTE) has disclosed its share repurchase transactions from September 9 to September 13, 2024. The company bought back a total of 2,642,211 shares at an average price of €60.555301 per share, for a total amount of €159,999,881.29. The purchases were made across various markets including XPAR, CEUX, TQEX, and AQEU. The largest daily volume was on September 9, with 528,311 shares purchased. The highest daily weighted average purchase price was €61.055314 on September 13. These transactions were conducted in accordance with authorizations from the shareholders' general meeting on May 24, 2024, and applicable share repurchase laws.
TotalEnergies has joined the Japan Hydrogen Fund as the sole non-Japanese investor at its first close. The fund, initially endowed with over $400 million, aims to develop the low-carbon hydrogen value chain. Major Japanese companies, including Toyota Motor and Iwatani , are among the investors. Managed by Advantage Partners, the fund is launched by the Japan Hydrogen Association (JH2A), representing over 440 members.
This initiative aligns with TotalEnergies' ambition to be a global player in the energy transition and follows its launch of the Hy24 clean hydrogen infrastructure fund in 2021. The company sees this as an opportunity to leverage the dynamism of the hydrogen ecosystem in Japanese industry and contribute to the collective effort in developing industrial-scale low-carbon hydrogen solutions.
TotalEnergies SE (TTE) has disclosed its share repurchase transactions from September 2 to September 6, 2024. The company bought back a total of 2,440,009 shares at an average price of €60.90 per share, for a total amount of €148,601,144.80. The purchases were made across four different trading venues: XPAR, CEUX, TQEX, and AQEU.
The daily volume of shares purchased ranged from 173,888 to 303,046, with daily weighted average purchase prices varying between €60.15 and €62.41 per share. These transactions were conducted in accordance with the authorizations given by shareholders at the general meeting on May 24, 2024, and comply with applicable laws on share repurchases.
TotalEnergies and Adani Green Energy (AGEL) have agreed to create a new 50-50 joint venture with a 1,150 MWac (1,575 MWp) solar portfolio in Khavda, Gujarat. The electricity will be sold through PPAs with SECI and on the wholesale market. TotalEnergies will invest $444 million to support the development. This transaction strengthens TotalEnergies' alliance with AGEL, supporting its goal of 50 GW renewable capacity by 2030. The deal is subject to AGEL shareholder approval and regulatory clearances.
AGEL is developing the world's largest renewable energy site in Khavda, spanning 538 km² with a planned capacity of 30 GW. Once completed, it will power the equivalent of 16 million Indian homes.
TotalEnergies SE (TTE) has disclosed its share repurchase transactions from August 26 to August 30, 2024, in accordance with shareholder authorization and applicable laws. The company bought back a total of 2,552,248 shares at an average price of €62.689754 per share, totaling €159,999,799.93. The purchases were executed across multiple trading venues, including XPAR, CEUX, TQEX, and AQEU.
The daily transaction volumes ranged from 509,721 to 511,791 shares, with the highest daily weighted average purchase price of €63.002215 on August 27 and the lowest of €62.423214 on August 29. These share repurchases are part of TotalEnergies' ongoing strategy to manage its capital and return value to shareholders.
TotalEnergies has signed a $100 million agreement with Anew Climate and Aurora Sustainable Lands to protect productive forests and enhance carbon storage across the U.S. The investment supports Improved Forest Management (IFM) practices covering 300,000 hectares in 10 states. The project aims to preserve natural carbon sinks, improve water and soil quality, and protect biodiversity. TotalEnergies will acquire and retire the generated carbon credits beyond 2030 to offset part of its remaining Scope 1 & 2 emissions. The company aligns with the U.S. government's Voluntary Carbon Markets Principles, focusing on integrity, transparency, and environmental protection.
TotalEnergies has announced the launch of a pioneering floating offshore wind pilot project in the UK North Sea. The project aims to supply renewable electricity to the Culzean offshore oil & gas platform, marking an innovative approach to decarbonization. Key details include:
- A 3 MW floating wind turbine will be installed 2 km west of the Culzean platform, 220 km off Scotland's eastern coast.
- Expected to be fully operational by end 2025, supplying around 20% of Culzean's power requirement.
- The turbine will be mounted on a modular, light semi-submersible floater hull designed by Ocergy for fast assembly and cost optimization.
- The project was selected in Crown Estate Scotland's Innovation and Targeted Oil & Gas (INTOG) leasing round.
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