Totalenergies Share Discussion Threads

[adrian j boris] 06/12/2023 06:16

TotalEnergies to divest its 36.36% stake in Natref refinery to Prax

Oil & GasRefinery

By NS Energy Staff Writer 04 Dec 2023

Natref, a Joint Venture (JV) between TotalEnergies Marketing South Africa and Sasol (63.64%), the refinery can process 108,500 barrels of oil per day (bopd), and supply to the important South African inland market area of Johannesburg


TotalEnergies has signed a sales and purchase agreement (SPA) to divest its 36.36% minority stake in National Petroleum Refiners of South Africa (Natref) to the Prax Group.

Natref is a Joint Venture (JV) between TotalEnergies Marketing South Africa and South Africa-based integrated energy and chemical company Sasol (63.64%).

Located at Sasolburg, South Africa, the refinery can process 108,500 barrels of oil per day (bopd), and supply to the important South African inland market area of Johannesburg.

The transaction, a part of TotalEnergies’ strategy to divest non-core assets, is subject to customary approvals, consents, and authorisations.

Prax Group chairman and CEO Sanjeev Kumar Soosaipillai said: “The signing of this agreement is the first step towards our entry into Africa. This will provide us a solid platform from which to execute our future growth strategy.

“The acquisition marks another significant milestone for the Prax Group, and will create unique opportunities across the South African supply chain, meeting the needs of customers and communities for years to come.”

TotalEnergies chief financial officer Jean-Pierre Sbraire said: “The transaction is in line with the Company strategy to focus on its large integrated fuels & petrochemicals platforms and to divest its non-core assets.”

TotalEnergies has been present in South Africa for almost seventy years.

It produces and markets a wide range of fuels, biofuels, natural gas and green gases, renewables and electricity and remains committed to its operations in the country.

Prax is engaged in operating, optimising and improving strategically important assets.

Through the stake in Natref JV, Prax enters the South African market and aims to improve the refinery’s competitive position through future strategic investment.

The group believes that the Natref refinery will serve as a focal point for its expansion into Africa, with further investment and a regional hub developed around the assets in South Africa​.

[adrian j boris] 06/12/2023 05:54

Patrick Pouyanne, CEO of TotalEnergies: LNG tensions and volatility until 2027
December 05, 2023 at 11:45 am


Patrick Pouyanne, CEO of TotalEnergies (TTE), discusses the balance between oil supply and demand, and the outlook for the liquefied natural gas market, on the sidelines of the COP28 summit in Dubai. Driven by population growth and economic recovery, particularly in China, demand for oil continues to grow.

He points out that the current price of LNG is surprisingly higher than that of oil, and that this has led to a slowdown in demand in Asia, where coal is becoming the alternative. He predicts that LNG supply tension and price volatility will persist until 2026-2027, when new capacity will become available, notably in Qatar and the USA.

(MT Newswires)

[waldron] 26/11/2023 06:38

Euronext Paris 11:36:42 2023-11-24 am EST


TotalEnergies



63.14 EUR +0.53%

[the grumpy old men] 22/11/2023 19:40

EURONEXT Paris Share Price

TotalEnergies
61.85 -1.75%

[florenceorbis] 13/11/2023 08:59

TotalEnergies to Buy Three Texas Gas Power Plants for $635 Million
13/11/2023 8:07am
Dow Jones News

TotalEnergies (EU:TTE)
Intraday Stock Chart


Monday 13 November 2023
Click Here for more TotalEnergies Charts.

By Pierre Bertrand



TotalEnergies said it has signed an agreement with TexGen Power to acquire three gas-fired power plants for $635 million.

The plants, near the cities of Dallas and Houston in the southern U.S. state of Texas, have a total power capacity of 1.5 gigawatts.

The plants are connected to the state's Electric Reliability Council of Texas, the second-largest power market in the country, the French oil and gas major said.

The plants will serve the energy demands of the two cities and will allow for the offsetting of what the company said was "the intermittency of renewable power production."

The plants will additionally complement TotalEnergies' renewable capacity in the state while boosting its gas and power market capabilities, the company said.

The deal remains subject to approval by relevant authorities, TotalEnergies said.



Write to Pierre Bertrand at [e-mail]



(END) Dow Jones Newswires

November 13, 2023 02:52 ET (07:52 GMT)

[ariane] 27/10/2023 07:00

TotalEnergies commissions Cape Ann FSRU in Port of Le Havre, France


By NS Energy Staff Writer 26 Oct 2023

The maximum regasification capacity of the Cape Ann FSRU is estimated at approximately five billion cubic metres, which is equivalent to nearly 10% of French consumption

French oil and gas firm TotalEnergies has commissioned the Cape Ann floating storage and regasification unit (FSRU) for liquefied natural gas (LNG) in the port of Le Havre located in north-western France.

According to the French oil and gas firm, the LNG floating terminal has introduced its initial batch of megawatt-hours (MWh) of gas successfully into the grid managed by gas transmission company GRTgaz by using the LNG sourced from Norway.

The maximum regasification capacity of the Cape Ann FSRU is estimated at approximately five billion cubic metres. This is equivalent to meeting nearly 10% of French consumption.

TotalEnergies has secured contracts for half of the terminal’s yearly capacity to fulfil its LNG requirements from its global portfolio. The remaining capacity of the LNG floating terminal will be allocated in accordance with regulatory guidelines, said the French energy major.

Cape Ann is 283m long with a width of 43.4m. It has a draught of 50m and a weight of 112,457 tonnes.

Installed by TotalEnergies, which will also manage its operations, the floating regasification terminal was constructed by GRTgaz. The French natural gas transmission company will also operate the pipeline that links Cape Ann to the gas transmission network.

Originally built in 2010, the vessel is owned by Höegh LNG. It was operating in China before it was chartered by TotalEnergies.

TotalEnergies claims to be the third-largest player in the in global LNG industry with an approximate market share of 12%. Its portfolio, totalling around 50 million metric tons per year (Mt/y) comes through the company’s involvement in liquefaction facilities across various regions.

[florenceorbis] 26/10/2023 08:49

TotalEnergies Posts Higher Q3 Attributable Net Income, Sales Decline
October 26, 2023 at 02:53 am EDT

(MT Newswires) -- TotalEnergies (TTE.PA, TTE.L, TTE.BR) said Thursday its net income for the third quarter grew, while sales decreased.

Consolidated net income attributable to the company for the three months ended Sept. 30 was $6.68 billion, compared with $6.63 billion a year ago. EPS was $2.73, compared with $2.56.

On the other hand, adjusted net income was $6.45 billion, and adjusted EPS was $2.63, compared with the year-ago period's $9.86 billion and $3.83, respectively.

The French energy company's sales were $59.02 billion, compared with $69.04 billion previously.

Meanwhile, the board decided to pay a third interim dividend for 2023 of 0.74 euro per share, up 7.25% from a year ago.

The stock rose marginally at the close of trading on Wednesday.

Price (GBP): £62.20, Change: £+0.17, Percent Change: +0.27%

[florenceorbis] 26/10/2023 08:47

TotalEnergies Posts Higher 3Q Profit, Increases Dividend
26/10/2023 8:06am
Dow Jones News




Thursday 26 October 2023


By Giulia Petroni



TotalEnergies increased shareholder distribution after its third-quarter profit rose, boosted by a supportive price environment.

The French oil-and-gas major said quarterly net profit came in at $6.68 billion compared with $6.63 billion in the same period last year. On an adjusted basis, profit was $6.45 billion.

Hydrocarbon production was 2.48 million barrels of oil equivalent a day from 2.67 million boe/d in the previous year. Excluding Russia's Novatek, production was up 5% on year boosted by the start-up of several projects.

The company expects fourth-quarter production of between 2.4 million boe/d and 2.5 million boe/d, reflecting the impact of the sale of oil sands assets in Canada.

Quarterly sales fell to $59.02 billion from $69.04 billion in the year-earlier period.

TotalEnergies said it anticipates cash proceeds of around $4.1 billion in the fourth quarter from the Canadian assets divestments, which could bring gearing below 8%. It plans net investments of between $16 billion and $17 billion for the current year.

The company will distribute a third interim dividend of 0.74 European cents ($0.78) a share for 2023, up 7.25% on year. Shareholder distribution is close to 43% of cash flow from operations at the end of September, in line with annual guidance of more than 40%.



Write to Giulia Petroni at [e-mail]



(END) Dow Jones Newswires

October 26, 2023 02:51 ET (06:51 GMT)

[grupo guitarlumber] 24/10/2023 12:00

Upcoming events on TOTALENERGIES SE


2023-OCT-26 07:30 am Q3 2023 Earnings Call

2023-OCT-26 02:00 am Q3 2023 Earnings Release

[adrian j boris] 24/10/2023 07:37

TOTALENERGIES SE: United States: TotalEnergies Starts Up in Texas a 380 MW Utility-Scale Solar Power Plant with Battery Storage


24/10/2023 7:30am

UK Regulatory (RNS & others)

Totalenergies (LSE:TTE)



Tuesday 24 October 2023


TIDMTTE



TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has started commercial operations of Myrtle Solar, its utility-scale operated solar farm in the United States.



Located south of Houston, Texas, Myrtle has a capacity of 380 megawatts peak (MWp) of solar production and 225 MWh of co-located batteries. With 705,000 ground-mounted photovoltaic panels installed over an area equivalent to 1,800 American football fields, Myrtle produces enough green electricity to cover the equivalent consumption of 70,000 homes.



70% of Myrtle's capacity will supply green electricity to the Company's industrial plants in the U.S. Gulf Coast region. It is part of the Company's "Go Green" Project, which will enable the Company to cover, by 2025, the power needs and curtail the Scope 1+2 emissions of its industrial sites in Port Arthur and La Porte in Texas, and Carville in Louisiana.



The remaining 30% of Myrtle's capacity will supply green electricity to Kilroy Realty, a publicly traded real estate company, under a 15-year corporate power purchase agreement (CPPA) indexed on merchant prices.



In addition to the photovoltaic installations, the solar power plant also features battery energy storage equipment to meet the need for grid stabilization. With a total capacity of 225 MWh, this storage is made of 114 high-tech Energy Storage Systems (ESS) containers designed and assembled by TotalEnergies' affiliate Saft, which develops cutting-edge industrial batteries.



The Myrtle project, which benefits from the IRA (Inflation Reduction Act) Tax Credit mechanisms, will positively contribute to TotalEnergies' Integrated Power's profitability target of 12%.



"We are very proud to start up Myrtle, TotalEnergies' largest-to-date operated utility-scale solar farm with storage in the United States. This startup is another milestone in achieving our goal to build an integrated and profitable position in Texas, where ERCOT is the main electrical grid operator. Besides, the project will enable the Company to cover the power needs of some of its biggest U.S. industrial sites with electricity from a renewable source," said Vincent Stoquart, Senior Vice President, Renewables at TotalEnergies. "Given the advantages that IRA tax exemptions are generating, we will continue to actively develop our 25 GW portfolio of projects in operation or development in the United States, to contribute to the Company's global power generation target of more than 100 TWh by 2030."



*Myrtle was initially developed by SunChase Power and Eolian

TotalEnergies in the U.S



Operating in the United States since 1957, TotalEnergies is focused on identifying opportunities to meet growing energy needs while reducing carbon emissions. With a presence in more than 30 U.S. states, the Company is developing an integrated portfolio combining 25 GW of operated and non-operated solar and wind projects, storage, and trading. It is also the number one U.S. exporter of LNG, a critical partner for intermittent renewable energies.

TotalEnergies and electricity



As part of its ambition to get to net zero by 2050, TotalEnergies is building a world class cost-competitive portfolio combining renewables (solar, onshore and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. In 2022, TotalEnergies generated more than 33 TWh of electricity, and had a gross renewable electricity generation installed capacity of 17 GW. TotalEnergies will continue to expand this business to grow its power generation to more than 100 TWh by 2030, with the objective of being among the world's top 5 producers of electricity from wind and solar energy.

About TotalEnergies



TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in nearly 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

TotalEnergies Contacts

Media Relations: [phone] l [e-mail] l @TotalEnergiesPR



Investor Relations: [phone] l [e-mail]

[sarkasm] 19/10/2023 09:53

France Cancels Plan to Extend Windfall Tax on Refiners into 2024
by Bloomberg
|
William Horobin
|
Thursday, October 19, 2023

France Cancels Plan to Extend Windfall Tax on Refiners into 2024

France was among several European nations to slap windfall taxes on oil companies after Russia's invasion of Ukraine drove up energy prices.

Image by Richard Villalonundefined undefined via iStock

The French government opted not to extend a windfall tax on the profits of oil refiners into next year, a Finance Ministry official said.

Lawmakers at the National Assembly’s finance committee had proposed amendments to the 2024 budget bill to extend levies to help fund relief measures for consumers hard hit by surging gasoline, diesel and electricity costs.

France was among several European nations to slap windfall taxes on oil companies after Russia’s invasion of Ukraine drove up energy prices.

The Finance Ministry official briefed journalists on condition of anonymity.

RIGZONE

[grupo guitarlumber] 15/10/2023 09:24

QatarEnergy and Totalenergies sign 27-year LNG supply agreement for up to 3.5MTPA to France



By NS Energy Staff Writer 13 Oct 2023

Pursuant to the SPAs, LNG will be delivered ex-ship to the Fos Cavaou LNG receiving terminal in southern France, with deliveries expected to start in 2026 for a term of 27 years
11102023 QatarEnergy and TotalEnergies Sign LNG SPA 02

QatarEnergy and Totalenergies sign 27-year LNG supply agreement for up to 3.5MTPA to France. (Credit: QatarEnergy)

Affiliates of QatarEnergy and TotalEnergies signed two long-term LNG sale and purchase agreements (SPAs) for the supply of up to 3.5 million tons per annum (MTPA) of LNG from Qatar to France.

Pursuant to the SPAs, LNG will be delivered ex-ship to the Fos Cavaou LNG receiving terminal in southern France, with deliveries expected to start in 2026 for a term of 27 years.

The LNG volumes will be sourced from the two joint ventures between QatarEnergy and TotalEnergies that hold interests in Qatar’s North Field East (NFE) and North field South (NFS) projects.

The SPAs were signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and Mr. Patrick Pouyanné, the Chairman and CEO of TotalEnergies, at a special event held in Doha in the presence of senior executives from both companies.

Commenting on this occasion, His Excellency Minister Al-Kaabi said: “These two new agreements we have signed with our partner TotalEnergies, demonstrate our continued commitment to the European markets in general, and to the French market in particular, thus contributing to France’s energy security. The State of Qatar has been supplying the French market with LNG since 2009, and the new agreements reflect the joint effort of two trusted partners, QatarEnergy and TotalEnergies, to provide reliable and credible LNG supply solutions to customers across the globe.”

His Excellency Minister Al-Kaabi added: “Our commitment to ensure continued and reliable supplies of energy to Europe and the rest of the world is underpinned by our substantial and ongoing investments across the entire gas value chain. We are proud that our new LNG expansion in Qatar is the least carbon intensive project in the world. Our efforts span from bolstering production capacity in Qatar to the development of the Golden Pass LNG export project in the United States, in addition to our commitments in various LNG receiving terminals in Europe, including the Montoir-de-Bretagne LNG Terminal in France.”

TotalEnergies’ partnership in the North Field LNG Expansion Projects is made up of a 6.25% share in the NFE project and a 9.375% share in the NFS project.

Source: Company Press Release

[the grumpy old men] 14/10/2023 12:21

Financial announcements & roadshows

October/26 2023
Third Quarter 2023 Results

January/02 2024
Ex-Dividend date for the 2nd 2023 interim Dividend

February/07 2024
TotalEnergies' 2023 Results and 2024 Objectives

March/20 2024
Ex-Dividend date for the 3rd 2023 interim Dividend

April/26 2024
First Quarter 2024 Results

May/24 2024
2024 Annual Shareholders' Meeting

[the grumpy old men] 14/10/2023 12:15

Euronext Paris 11:36:21 2023-10-13 am EDT


TotalEnergies SE




63.17 EUR


RESISTANCE APPARENTLY AT 63.62 euros

[florenceorbis] 27/9/2023 15:05

TotalEnergies Plans to Increase Shareholder Returns, Oil-and-Gas Production
27/09/2023 2:41pm
Dow Jones News



Wednesday 27 September 2023


By Giulia Petroni



TotalEnergies plans to boost shareholder distributions and increase its oil-and-gas production as part of its newly released strategy.

The French major said Wednesday that it expects to return around 44% of cash flow from operations to shareholders in the current year and allocate $1.5 billion from divestment proceeds of Canadian assets to share buybacks, reaching $9 billion.

It also increased the distribution guidance to more than 40% of CFFO beyond 2023, with net investments of $16 billion-$18 billion per year over the 2024-28 period.

TotalEnergies said it plans to grow its oil-and-gas production by 2% to 3% a year over the next five years, mainly from liquefied natural gas. The oil-and-gas business is expected to generate more than $3 billion of additional underlying cash flow in 2028 compared to 2023 levels at constant prices, it said.

In regards to its low-carbon portfolio, the company said it aims to increase power generation to more than 100 terawatt-hours by 2030 by investing $4 billion per year. It also plans to increase cash flow to more than $4 billion by 2028 from around $2 billion in 2023.

The company said it is building a portfolio that combines renewables, combined-cycle power plants and storage, with the aim to achieve a return on average capital employed of around 12%.



Write to Giulia Petroni at [e-mail]



(END) Dow Jones Newswires

September 27, 2023 09:26 ET (13:26 GMT)

[the grumpy old men] 27/9/2023 08:01

September/27/2023 Investor Day

[adrian j boris] 20/9/2023 13:33

TotalEnergies to Invest $300 Million in Renewables Venture With Adani Green Energy
20/09/2023 10:55am
Dow Jones News



Wednesday 20 September 2023


By Giulia Petroni



TotalEnergies has entered into an agreement with Adani Green Energy to invest $300 million in a joint venture that will house 1.05 gigawatts of solar and wind projects, the Indian renewable-energy company said on Wednesday.

The venture will be equally owned by the two companies, Adani Green Energy said. Some of the projects are already operational, while others are still under construction or development.

The transaction is under discussion and subject to customary approvals and conditions.

Adani Green Energy is owned by Adani Group.



Write to Giulia Petroni at [e-mail]



(END) Dow Jones Newswires

September 20, 2023 05:40 ET (09:40 GMT)

[florenceorbis] 17/9/2023 09:00

France May Take Action To Curb Oil Refiner's Profits
By Julianne Geiger - Sep 16, 2023, 4:00 PM CDT

French Finance Minister Le Maire questions high refining margins and ponders policies to curb excessive profits in the downstream sector.

Le Maire: Windfall taxes are one way France could help alleviate the pain of high prices for consumers.

Earlier this week, Le Maire said the inflation burden must be shared as he welcomed TotalEnergies's Tuesday decision to keep a cap on fuel prices beyond the end of the year.


France has "questions" about refining margins, and decisions could be made to curb excessive profits, French Finance Minister Bruno Le Maire told journalists on Thursday.

Inflation has been a concern across Europe, and the French government has taken strides to lower the cost of basic goods and services such as food and transport.

Windfall taxes are one way France could help alleviate the pain of high prices for consumers, Le Maire said.

"With (Energy Minister) Agnes Pannier-Runacher, I will raise the issue of high margins with the economic actors in question and take decisions to avoid excessive profits in this sector as in others," Le Maire said on Thursday.

Earlier this week, Le Maire said the inflation burden must be shared as he welcomed TotalEnergies's Tuesday decision to keep a cap on fuel prices beyond the end of the year, and urged other companies to rein in prices to keep the cost of living down. Total said it would extend the cap fuel prices at 1.99 euro per litre beyond the end of the year "as long as prices remain high."

Le Maire noted that according to officials from oil-producing countries he had spoken to last week at the G20 summit, it looked like Saudi Arabia had every intention of continuing to limit its crude oil output.

In September last year, the Council of the European Union agreed to impose a temporary windfall tax on energy companies that realize "above a 20% increase of the average yearly taxable profits since 2018," on top of whatever taxes these companies already own in their individual countries.

In March of this year, ExxonMobil announced its disappointment with the windfall tax trend, saying it would take a look at its role in Europe in light of the new taxes on profits. At the time, Exxon likened Europe's windfall tax craze as the stick, and the United States' Inflation Reduction Act as the carrot as the oil supermajor created a new clean energy business venture in the United States.

ExxonMobil filed a lawsuit against the EU over the 33% windfall tax in December after claiming that the windfall tax could cost the company $2 billion in 2023, and announced that whether Exxon invests in Europe depends on how attractive and globally competitive Europe will be.

By Julianne Geiger for Oilprice.com