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TTE Totalenergies Se

53.65

-0.70 (-1.29%)

11 Dec 2024 - Closed

Delayed by 15 minutes

Totalenergies Investors - TTE

Share Name	Share Symbol	Market	Stock Type
Totalenergies Se	TTE	London	Ordinary Share

	Price Change	Price Change %	Share Price	Last Trade
	-0.70	-1.29%	53.65	16:35:04

Open Price	Low Price	High Price	Close Price	Previous Close
			53.65	54.35

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Posted at 07/11/2024 03:01 by gibbs1 TotalEnergies plans to invest in Nigeria’s oil blocks 7th November 2024 Total Energies TotalEnergies By Dare Olawin The President/Chief Executive Officer of TotalEnergies worldwide, Patrick Pouyanne, says the company is ready to invest billions of dollars in Nigeria by participating in the ongoing oil bid round in the country. Pouyanne stated this recently when he visited the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, at the commission’s headquarters in Jabi, Abuja. This is coming a few months after the CEO said he had snubbed Nigeria to invest $6bn in Angola. In a statement, the NUPRC said the meeting focused on key issues surrounding divestment, investment, and regulatory consent, addressing ongoing initiatives related to the Shell Petroleum Development Company Joint Venture deal which covered the deal’s current status and its potential implications for future investment opportunities in Nigeria’s Upstream petroleum sector. The TotalEnergies boss was said to have expressed his company’s interest in exploring additional investment opportunities in Nigeria. “He informed the CCE that TotalEnergies has registered for the current bid round, signalling its commitment to exploring new opportunities and gaining insight into the NUPRC’s perspective on the process. These include the commission’s approach to contract types and the necessity of partnerships within the bidding framework,“ the statement noted. According to the NUPRC, other areas of interest for TotalEnergies include Nigeria’s domestic crude oil supply obligations. The aim is to strengthen operational efficiencies and align with mutual objectives between the company and NUPRC. “Mr Pouyanne also noted his company’s interest in the regulatory aspects of decommissioning and abandonment, crucial components as Nigeria seeks to modernise its upstream petroleum landscape. “The TotalEnergies CEO also commended NUPRC for the restoration of investors’ confidence in the Nigerian upstream sector and promised billions of USD investment and participation in the 2024 licensing round,“ the commission added. Komolafe highlighted the NUPRC’s commitment to fostering a favourable business environment. He emphasised that as an enabler of business under the Petroleum Industry Act, the NUPRC is developing new regulations designed to streamline operations, encourage foreign investments, and simplify business processes in Nigeria’s petroleum sector. In May, Pouyanne told the President of the Dangote Group, Aliko Dangote, that the company was investing $6bn in energy projects in Angola over Nigeria, citing inconsistency in policy making in Nigeria as the primary reason for this decision. During the Africa CEO panel in Kigali, Rwanda, Pouyanne said despite the Niger Delta’s status as West Africa’s most productive region, the volatile policy landscape has rendered investments unsustainable, adding that the company has not conducted oil exploration in the region for 12 years. “Nigeria loves to open topics without closing them. You love to debate. There is always a new legislature in Nigeria about a new petroleum law. When you have such permanent debates, it’s difficult for investors looking for long-term structure to know what direction to go. “In reality, the Niger Delta is the most prolific part of West Africa. But if you look at what happened, because of these debates, there has not been a single exploration in Nigeria for 12 years. It’s important to have a debate and then settle it and put a framework on the table that investors can trust. “We have countries that have perfectly integrated policies like Angola. So, we went to Angola and announced a very large $6bn project at the beginning of the week (in May) because their framework is stable. So we know where we go,” the TotalEnergies boss said five months ago. Dare Olawin Kindly share this story:PUNCH. Contact: theeditor@punchng.com Read Full Thread Reply
Posted at 03/10/2024 16:28 by waldron TotalEnergies to reassess UK investments amid windfall tax hike The UK Government’s plan includes a three-percentage point increase from November, potentially raising the sector's overall tax rate to 78%. October 3, 2024 French energy major TotalEnergies has signalled a potential reduction in its UK investments in response to the government’s planned increase in windfall taxes and the removal of investment allowances. The company’s CEO, Patrick Pouyanné, expressed concerns at an investor day in New York, highlighting the challenges posed by the proposed tax changes compared with those in France. Pouyanné, as reported by the Financial Times, stated: “I am taking this very seriously because clearly we will be very selective on any capex we spend in the UK and [are] clearly looking seriously at ways to restructure operations.” He suggested that the UK should consider emulating Norway’s system, which, despite high taxes, offers incentives for investment. “I am arguing with them, but they should copy [and] paste the Norwegian system, which is maybe high fiscally but also has incentives to invest,” Pouyanné added. The CEO also confirmed TotalEnergies’ consideration of a secondary listing in New York. Introduced in 2022 by then chancellor Rishi Sunak following Russia’s invasion of Ukraine, the UK’s temporary energy profits levy is set to extend until 2030. The Labour Government’s plan includes a three-percentage point increase from November, potentially raising the sector’s overall tax rate to 78%. The proceeds from the increased levy are intended to support renewable energy investments including wind power, aligning with Labour’s establishment of Great British Energy. Additionally, Pouyanné confirmed TotalEnergies’ consideration of a secondary listing in New York, which would enable more efficient access to US investors while maintaining its base in Paris. Despite the uncertain market, TotalEnergies announced a 5% dividend increase for 2025 and maintained its $2bn (€1.81bn) quarterly share buybacks. This comes amid forecasts of an oversupply in liquefied natural gas (LNG) potentially affecting prices from 2026. TotalEnergies has committed to net investments of $16–18bn annually through 2025–30, with approximately $5bn earmarked for low-carbon energies. The company retains the option to reduce investments by $2bn if faced with significant price drops. The company’s Strategy & Outlook reveals a focus on a balanced and profitable transition strategy, with an emphasis on oil and gas, particularly LNG, and electricity. TotalEnergies aims to increase global energy production by 4% per year through 2030 while significantly reducing emissions from its operations. By 2030, the company anticipates a 25% reduction in the carbon content of its energy sales compared with 2015. GlobalData Read Full Thread Reply
Posted at 02/10/2024 19:09 by waldron French Giant TotalEnergies Hikes Dividend by 5% for 2025 By Charles Kennedy - Oct 02, 2024, 12:30 PM CDT It’s a big news week for French oil major TotalEnergies this week, with investors informed on Wednesday that the company would narrow its focus on cheaper upstream output and hike dividends by 5% per share for next year, combined with $2 billion in quarterly buybacks. In its Strategy & Outlook presentation on Wednesday, TotalEnergies emphasized “more energy, less emissions, more free cash-flow” as it “advances its balanced and profitable multi-energy strategy”. The French oil giant is targeting 4% production growth per year from 2024 to 2030, with $10 billion-plus in underlying free cash-flow growth. For 2024, the company expects buybacks to clock in at $8 billion, with another $2 billion per quarter for next year. "Our dividend breakeven is under $50 per barrel ... and we can sustain buybacks under $70 per barrel," TotalEnergies CEO Patrick Pouyanne said in the presentation. The announcement comes as oil and gas companies are faced with the prospect of potentially slowing dividend payouts and share buybacks after Brent plunged below $70 in September, clawing its way back this week with escalating Middle East tensions. TotalEnergies is eyeing upstream output costs of around $5 per barrel for 2024. Earlier this week, the company greenlighted a $10.5 billion development project for Suriname’s offshore oil and gas Block 58, with APA Corporation, with output expected in the first half of 2028. “Oil & Gas production average growth of ~3% per year to 2030, led by LNG, thanks to the launch of six major projects in 2024 (two in Brazil, Suriname, Angola, Oman, Nigeria) that de-risk, high-grade and extend guidance from 2028 to 2030,” TotalEnergies said in its presentation, adding that over the next two years, growth will surpass 3% annually due to the start-up of high-margin projects in the U.S. Gulf of Mexico, Brazil, Iraq, Uganda, Argentina, Malaysia and Qatar. “In 2024, the Company has also de-risked its LNG exposure to spot gas prices by signing long-term LNG sales contracts mainly indexed on Brent and by developing its upstream gas production in the US through two low-cost acquisitions,” Total said, with Pouyanne warning that there will be 50 million tons of new LNG supply per year representing 10% more than the market can handle. By Charles Kennedy for Oilprice.com Read Full Thread Reply
Posted at 18/9/2024 07:28 by adrian j boris NNPC Ltd, TotalEnergies’ $550m Ubeta Upstream Gas Project Takes Off By Chidi Ugwu On Sep 18, 2024 INDEPENDENT.NG ABUJA – The $550 million upstream gas project between the NNPC Ltd and TotalEnergies on the development of the Ubeta field has taken off, the presidency announced on Tuesday. Special Adviser to the President on Energy, Olu Verheijen, disclosed this during an inaugural US-Nigeria Strategic Energy Dialogue, hosted by the U.S. State Department in Washington, DC. In a statement, Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd, noted that the signing ceremony of the 550 million USD Fina Investment Decision (FID) on the Ubeta Field Development Project took place in Abuja in June, this year. The Ubeta field, which was discovered in 1964, is located northwest of Port Harcourt, Rivers State. Speaking at a luncheon organised as part of the inaugural US-Nigeria Strategic Energy Dialogue, Verheijen said the upstream gas project would deliver 350 million standard cubic feet of gas per day when operational. Verheijen added that major energy reforms introduced by President Bola Ahmed Tinubu since June 2023 focused on improving energy security, attracting investments, and deepening collaboration with key partners, including the US government. She said the key reforms had improved the viability of the gas to power value chain of the country. The reforms, according to her, included initiatives to improve cash flows in electricity distribution through smart metering and the payment of outstanding debts owed investors and to reduce carbon emissions from gas production. She added that the president issued five new executive orders to support the reform efforts, aimed at providing fiscal incentives for investment and reducing the cost and time of finalising and implementing contracts to develop and expand gas infrastructure. The presidential aide said the directives are aimed to immediately unlock up to $2.5 billion in new oil and gas investments in the country. Responding, the U.S. Assistant Secretary of the State Department’s Bureau of Energy Resources, Geoffrey Pyatt, said the dialogue was apt and strategic. “The inaugural U.S.-Nigeria Strategic Energy Dialogue has set the stage for strengthened energy collaboration between the United States and Nigeria. “Together, we’re advancing shared energy security, decarbonisation, and economic growth goals,” he said. Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, led the Nigerian delegation to the event. Officials from the Ministry of Power, Nigerian Upstream Petroleum Regulatory Commission, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Nigerian Content Development and Monitoring Board, and NNPC Limited were also in attendance. The U.S. delegation included representatives from the Bureau of African Affairs, USAID, the U.S. Department of Energy, the U.S. Trade and Development Agency, and the Export-Import Bank. Read Full Thread Reply
Posted at 08/9/2024 19:18 by waldron The key technical level to watch is $63 per share. A decisive break above this resistance could trigger a fresh wave of buying, pushing the stock toward uncharted territory. Investors are advised to monitor the price action closely in the coming days to see if a breakout materializes. Read Full Thread Reply
Posted at 24/10/2023 06:37 by adrian j boris 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: +33 (0)1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com Read Full Thread Reply
Posted at 27/9/2023 07:01 by the grumpy old men September/27/2023 Investor Day Read Full Thread Reply
Posted at 28/5/2023 05:31 by misca2 KUWAIT TIMES TotalEnergies shareholders back climate strategy despite protests AFP PARIS: TotalEnergies shareholders have backed the French oil giant’s climate strategy as it faces pressure from both environment activists and the government to speed up its switch to renewable energy. Protesters tried to prevent investors from attending the group’s annual general assembly in Paris, but police early in the morning used tear gas to disperse those who had managed to sit in front of the concert hall where it was being held. The demonstration was one of the latest in a series of tumultuous shareholder meetings at major corporations in Europe as activists step up pressure on companies to reduce their carbon footprints. After three hours of debate, TotalEnergies investors attending the gathering online or in person backed the group’s climate strategy with more than 88 percent of votes. Nearly a third of shareholders supported a motion from a minority of investors for the oil giant to reduce its greenhouse gas emissions to help meet the 2015 Paris accord’s goal of limiting global warming to 1.5 degrees Celsius above pre-industrial levels. That motion was put forward by Follow This, a group of 17 investors who together hold almost 1.5 percent of shares, but had been rejected by the oil giant. Follow This representative Tarek Bouhouch had urged investors to support the motion to avoid “a climate collapse”. TotalEnergies chief executive Patrick Pouyanne earlier defended the company’s climate strategy in front of a few hundred people in the French capital’s Salle Pleyel. “The climate is at the heart of our concerns,” he said. He said his group has done more than others to invest in renewables. But world oil demand is growing and “if TotalEnergies doesn’t respond to this demand, others will do it for us”, he said. ‘Go faster’ Despite police blocking off the road outside the venue, a couple of hundred protesters had remained outside the concert hall as the meeting kicked off. “All we want is to knock down Total,” protesters chanted. In reference to rising global temperatures, they also bellowed: “One, two and three degrees, we have Total to thank”. Some poured a black liquid over their heads. The company wanted to avoid the chaos of last year when activists prevented some shareholders from attending the annual meeting. This year, the firm placed two-meter high plexiglass screens to separate off speakers on stage from members of the public at the concert hall. It also forbade attendees and journalists from using their smartphones inside the venue. Climate campaigners are growing impatient with oil majors and other companies over their impact on the planet. Energy giants posted record profits last year as Russia’s war in Ukraine sent oil and gas prices soaring. In Switzerland on Friday, shareholders of Swiss commodities giant Glencore sought to hold the company accountable over its coal strategy. During the annual shareholders’ meeting of British group Shell on Tuesday, activists sang “Go to hell Shell!” TotalEnergies plans to allocate a third of its investments in low-carbon sources of energy and reach 100 gigawatts of renewable electricity capacity by 2030. But France’s energy transition minister, Agnes Pannier-Runacher, urged the company to speed things up on Friday. “Total invests in renewable energies, but the challenge is to go faster, stronger and above all faster,” she told FranceInfo radio. ‘The worst’ Marie Cohuet, spokeswoman for climate campaigners Alternatiba, said TotalEnergies “embodies the worst of what is done in terms of the exploitation of people and the planet”. One shareholder, who gave his name as Jean-Paul, defended himself as he made his way in to the Paris meeting. “We are all concerned by climate issues, but there are also economic aspects, employment,” he said. TotalEnergies operations include liquefied natural gas and oil projects in the United Arab Emirates, Iraq, Papua New Guinea and Uganda, where it has come under fire for a pipeline project activists say threatens a fragile ecosystem and livelihoods. The French giant has also sparked controversy over posting a record net profit of $20.5 billion for last year, how much taxes it pays in France, and how much it pays Pouyanne. A 10-percent hike to his salary was approved at Friday’s meeting. — AFP Read Full Thread Reply
Posted at 01/5/2023 13:15 by waldron Total’s CEO Blames Stock Discount On European Listing By Tsvetana Paraskova - May 01, 2023, 7:16 AM CDT The primary listing on a stock market in Europe is the main reason for the discount at which TotalEnergies’ stock trades relative to the market value fundamentals of its U.S. competitors, TotalEnergies’ chief executive Patrick Pouyanné has said at meetings with investors in recent months. However, TotalEnergies does not consider moving its primary listing to the United States, Pouyanné has said during recent meetings with investors, the Financial Times reports, citing sources familiar with the discussions. “Culturally it was too difficult” to move TotalEnergies to the U.S., one of the largest shareholders in the French energy firm told FT. CEO Pouyanné has said that “if Total was US-listed it would be much better but, of course, it is impossible for Total to move its listing so it’s not on the cards,” another shareholder told FT. According to analysts, the U.S. supermajors, ExxonMobil and Chevron, are valued on the market at around six times their cash flows, while TotalEnergies is valued at around 4x the cash flow, with UK-based BP and Shell valued even lower, at around 3 times their cash flows. Two years ago, Shell’s executive leadership discussed relocating to the U.S. in order to boost the company’s valuation, FT reported earlier this year. According to the FT’s sources, the supermajor’s new chief executive, Wael Sawan, was part of a team of top executives that two years ago considered moving Shell’s headquarters to the U.S. and listing the company there, too. The relocation idea was ultimately dropped, but the FT notes that Shell’s chief executive remains worried about the difference in valuation between Shell and its U.S. peers. Indeed, there has been a stark difference in the valuations of European and U.S. Big Oil majors. According to analysts, there are two primary reasons for this: the first is the greater clout that ESG investing has in Europe, and the other is that neither ESG-focused nor traditional investors seem to be particularly convinced of European Big Oil’s transition plans. By Tsvetana Paraskova for Oilprice.com Read Full Thread Reply
Posted at 26/4/2022 09:51 by sarkasm TotalEnergies: The Russia Uncertainty In Upcoming Earnings Apr. 26, 2022 3:29 AM ETTotalEnergies SE (TTE)2 Comments4 Likes Summary TotalEnergies is an oil and gas company with some Russian exposure. With Russian sanctions, there are some moving pieces that offer investors uncertainty. TotalEnergies is about to report its Q1 earnings this Thursday. This is a discussion of what investors should think about going in. As a value investor, given that TotalEnergies is one of only a very small handful of E&P companies that is in negative territory, this makes this investment interesting. Investors should look beyond the politics and make a rational decision on whether the capital return program is enough to buy more of this company now? Looking for more investing ideas like this one? Get them exclusively at Deep Value Returns. Learn More » Exterior view of the headquarters of the oil company TotalEnergies, formerly known as Total HJBC/iStock Editorial via Getty Images Investment Thesis TotalEnergies (NYSE:TTE) is an oil and gas company. Investors have become fearful of sanctions against Russia and the impact of Total's LNG assets in Yamal, northern Russia. However, I argue that insight has now been thoroughly discounted in the share price already. Consequently, besides Total's Russian exposure, which is now a known known, I estimate that Total's capital return program could reach around 9% to 12% in 2022. This is not the best oil and gas stock to buy, but far from being a bad pick altogether. Why TotalEnergies? Why Now? TotalEnergies is a global multi-energy company. It's a large energy company with 4 segments highlighted in the chart below: TotalEnergies Q4 2021 operating margins percentage TotalEnergies Q4 2021 operating margins percentage As you can see above, for Q4 2021, 70% of its operating profits came from its exploration and production segment. There is equity from affiliates that change the percentage makeup below its operating profit line. But I believe this provides more of a distraction in the analysis than it contributes. The key takeaway here is just how meaningful its Exploration & Production segment is to its overall health and near-term prosperity. And although oil and gas prices have been very volatile in the last several days, any guidance that TotalEnergies provides shareholders this Thursday on its dividend policy will be extremely insightful to investors. What should investors be on the lookout for? Before answering that, clearly, we need to know how big an impact the Russian sanctions have had on Total's operations. Presently, there's no denying that investors are being really nervous here. Chart Data by YCharts As you can see above, since the Russian sanctions were enacted, Total's shares are down 14%. This clearly seems to be an overreaction when you consider that Total's exposure to Russia accounts for approximately 5% of its cash flows. However, one has to counter that with the fact that TotalEnergies is meaningfully levered which, when taken together with its Russian impact, brings into question Total's ability to increase its capital return program further. Room For Increasing Its Dividend? Before discussing Total's dividend, let's take a moment to appraise Total's balance sheet. TotalEnergies Q4 2021 earnings TotalEnergies Q4 2021 earnings Even though there's been a massive improvement in leverage from last year, the fact remains that Total still carries $21 billion of net debt. One may counter that this isn't that meaningful given that Total's net cash flows in 2021 were $15.8 billion and are expected to be meaningfully higher in 2022. Could this mean that Total's dividend in 2022 could increase to $10 billion? A 22% increase compared with 2021? Perhaps. But I would contend that this is probably the best-case scenario given its Russian exposure. On yet the other hand, Total will probably look to increase its share buyback program. But will that amount to more than $5 billion in 2022? Again, I believe that would be the best-case scenario. Thus, altogether, investors could perhaps get 12% return via dividends and buybacks, if we were to make the generous assumption that Total would look to aggressively put a floor on its share price. But I am inclined to believe that a more reasoned return of capital program would probably settle around 9%, which is still very much reasonable. The Bottom Line With oil prices remaining high, this company will continue to improve its balance sheet and pay out a dividend. That's the good news. But at the same time, while I'm super bullish on oil and gas, I'm uncertain of whether shares of TotalEnergies are that compelling. You have a hit to profitability expected as TotalEnergies winds down its Russia exposure; you are also clearly exposed to WTI prices, which are far from guaranteed to remain high, particularly given China's COVID lockdown policies. Read Full Thread Reply

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