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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 has acquired a 10% stake in the Ruwais LNG project in partnership with ADNOC, Shell, bp, and Mitsui. The Ruwais LNG project, set to launch in the second half of 2028 in Abu Dhabi, will feature two liquefaction trains with a total capacity of 9.6 million tons per year.
This project will use full-electric liquefaction trains powered by clean energy from the UAE grid, making it one of the world's lowest-carbon intensity LNG plants.
TotalEnergies and its partners aim to meet growing global demand for lower-carbon gas while supporting the transition to cleaner energy.
TotalEnergies, already a major player in the LNG market, plans to increase natural gas's share in its energy mix to 50% by 2030.
The project also aims to boost local development and create skilled jobs for UAE nationals.
TotalEnergies SE has disclosed its share repurchase transactions conducted between July 1 and July 5, 2024, under the authorization of its shareholders’ general meeting held on May 24, 2024. The company acquired a total of 1,889,095 shares at an average weighted price of EUR 64.665535 per share, amounting to a total transaction value of EUR 122,159,338.67. These transactions were made across multiple markets, including XPAR, CEUX, TQEX, and AQEU. Detailed breakdowns of the individual trades are available on the TotalEnergies website.
SLB (NYSE: SLB) OneSubsea has secured a contract from TotalEnergies (NYSE: TTE) for the Kaminho deepwater project, offshore Angola. The project involves a 13-well subsea production system, including associated equipment and services, and will be developed in two phases in the Cameia and Golfinho fields. The collaboration aims to deploy a highly configurable subsea production platform with standardized vertical monobore subsea tree, wellhead, and controls system. The project is set to create over 10 million man-hours of work, primarily in Angola, with a targeted first production date in 2028, expected to yield 70,000 barrels of oil per day.
TotalEnergies (TTE) and SLB have announced a collaboration to develop innovative subsurface digital solutions to enhance sustainable hydrocarbon production and support geological carbon storage. This partnership will leverage both companies' expertise in operational and software development to create next-generation cloud-based tools that improve subsurface modeling and optimize production with reduced carbon intensity.
Additionally, TotalEnergies will solarize SLB's industrial sites in Oman, UAE, and Japan, providing bespoke energy solutions to support SLB's energy transition. This initiative aligns with TotalEnergies' strategy of 'More energy, less emissions, more value,' aiming to make industrial operations more sustainable while delivering competitive cost benefits.
Both companies emphasize the importance of collaboration and knowledge sharing to advance digital capabilities and enhance efficiency in the energy sector.
TotalEnergies (TTE) has launched its new Pangea 4 supercomputer at the Jean Féger Scientific and Technical Center in Pau, France. Designed to support the company's energy transition efforts, Pangea 4 offers advanced capabilities for windflow simulations, reservoir storage capacity assessments for carbon capture and storage (CCS) projects, and methane emissions reduction calculations.
This hybrid supercomputer combines onsite and cloud computing, doubling the speed of its predecessor while using nearly 90% less electricity. This enhanced efficiency significantly reduces the carbon footprint of TotalEnergies' datacenters. The company's OneTech President, Namita Shah, highlighted Pangea 4 as a key tool in meeting the diverse needs of TotalEnergies' new energy initiatives and business growth.
SLB and TotalEnergies have announced a 10-year partnership to develop and deploy scalable digital solutions aimed at enhancing energy resource access, performance, and efficiency. The collaboration will focus on integrating advanced digital capabilities, such as artificial intelligence, with SLB's Delfi™ digital platform, adhering to the OSDU® Technical Standard. The partnership will initially target subsurface digital solutions for reservoir engineering and geoscience modeling, leveraging real-world learnings from both companies. This co-development aims to benefit TotalEnergies' global operations and SLB's worldwide customer base, addressing key challenges across the energy value chain, including carbon capture, utilization, and sequestration (CCUS). The combined expertise of both companies is expected to accelerate the delivery of new digital capabilities for the entire industry.
In compliance with shareholder authorizations and applicable laws, TotalEnergies SE (TTE) disclosed transactions involving repurchases of its own shares on June 24 and 25, 2024. The company acquired a total of 1,057,838 shares at a daily weighted average price of EUR 62.525539, amounting to EUR 66,141,891.61. The transactions occurred across several markets, including XPAR, CEUX, TQEX, and AQEU. Further details about each individual trade can be found on the TotalEnergies website.
TotalEnergies has announced its acquisition of Tecoil, a Finnish company specializing in the production of Re-Refined Base Oils (RRBOs). Tecoil operates a production facility in Hamina, Finland, with a capacity of 50,000 tons of RRBOs per year.
The company has developed a circular economy network for collecting and re-refining used lubricants, producing high-quality base oils comparable to virgin oils. This acquisition will enable TotalEnergies to enhance its production of eco-friendly, high-performance lubricants, meeting growing customer demand for sustainable products.
The integration of Tecoil's expertise with TotalEnergies’ existing capabilities is anticipated to boost the company's position in the lubricant market.
TotalEnergies (NYSE:TTE) has agreed to sell its interest in several West of Shetland gas fields, including Laggan, Tormore, Glenlivet, Edradour, and Glendronach, along with the Shetland Gas Plant and nearby exploration licenses to The Prax Group.
The transaction, pending regulatory approval, will transfer approximately 7,500 barrels of oil equivalent production per day, mostly gas, to Prax. Relevant employees will also be transferred.
This sale aligns with TotalEnergies' strategy to divest mature, non-core assets. However, the company remains committed to the UK market, retaining operations in the North Sea and its Integrated Power and Renewables portfolio.
TotalEnergies (TTE) has signed an agreement to acquire a 60% interest and operatorship in Block STP02, located offshore Sao Tome and Principe, from ANP-STP. The remaining interest will be held by Sonangol (30%) and ANP-STP (10%). This transaction, subject to final approval, expands TotalEnergies' presence in an emerging basin 60 km off the coast of Principe. Block STP02 covers 4,969 km2 and is adjacent to Block STP01, where TotalEnergies holds a 55% stake. The company's decision follows promising 3D seismic data from Block STP01, aiming to enhance exploration efforts in the region.
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