ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

TTE Totalenergies Se

53.35
0.00 (0.00%)
13 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Totalenergies Se LSE:TTE London Ordinary Share FR0000120271 TOTALENERGIES ORD SHS
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 53.35 50.80 55.90 54.00 54.00 54.00 1,333,136 16:35:06
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 219.47B 21.38B 8.1645 6.54 139.73B
Totalenergies Se is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker TTE. The last closing price for Totalenergies was 53.35 €. Over the last year, Totalenergies shares have traded in a share price range of 51.60 € to 71.50 €.

Totalenergies currently has 2,619,131,285 shares in issue. The market capitalisation of Totalenergies is 139.73 € billion. Totalenergies has a price to earnings ratio (PE ratio) of 6.54.

Totalenergies Share Discussion Threads

Showing 876 to 890 of 900 messages
Chat Pages: 36  35  34  33  32  31  30  29  28  27  26  25  Older
DateSubjectAuthorDiscuss
10/12/2024
10:28
TotalEnergies: complex?

By Claude Leguilloux

Published on 10/12/2024 at 10:08 am

(Boursier.com) - TotalEnergies recovered 0.3% to €54.80 in morning trading in Paris on Tuesday, after a more difficult sequence in the wake of hesitations in the price of a barrel of Brent crude oil and an increasingly complex situation in the Middle East, as evidenced once again by the the collapse of the Syrian regime...

Among the latest brokerage opinions, Goldman Sachs remains ‘neutral’; on the oil
group, with its target cut from €66 to €61, while JP Morgan has is still ‘overweight217;, with its target price adjusted to 66 euros.

RBC Capital had previously upgraded its opinion on the oil giant to ‘outperform217;, believing that the company's share price was too low on the oil giant, believing that the company offers a ‘compelling growth story’ for the coming years and a
credible strategy in the integrated oil sector...

The broker noted that the valuation offered a modest premium to its peers, while
total shareholder return is expected to outperform the sector in 2025.


It points out that many peers are cutting shareholder pay,but that the French giant is delivering compelling growth in free cash flow per share. It estimates total shareholder return in 2025 at 12.7%.

The price target has been maintained at €80.

Translated with DeepL.com (free version)

waldron
09/12/2024
12:27
Air Liquide to provide H₂ for TotalEnergies biofuels plant

by Craig Bettenhausen
December 8, 2024 | A version of this story appeared in Volume 102, Issue 38





TotalEnergies has selected Air Liquide to provide hydrogen for its biorefinery in La Méde, France.

The $84 million plant, which Air Liquide will operate on the TotalEnergy site, will anaerobically digest waste biomass from the refinery to create methane.

It will then use steam methane reformation to convert the biomethane into 25,000 metric tons (t) of H2 per year.

A press release announcing the deal does not mention any plans to capture the CO2 by-product of methane reformation, but it does say that switching to biogenic H2 will reduce overall CO2 emissions at the site by 130,000 t per year.

Chemical & Engineering News

American Chemical Society

waldron
07/12/2024
11:28
TotalEnergies, Aramco Sign SAF Development Agreement

The move could bolster the Kingdom's circular economy and sustainability
SATORP refinery in Saudi Arabia

The SATORP refinery in Saudi Arabia, a joint venture that TotalEnergies and Aramco operate.

By Curt Epstein • Senior Editor
AIRONLINE

December 6, 2024

France-based global energy conglomerate TotalEnergies has signed a joint development and cost-sharing agreement with Saudi government-owned petroleum producer Aramco and Saudi Investment Recycling Company (SIRC) to assess the development of a sustainable aviation fuel (SAF) production facility in Saudi Arabia.

The move was announced this week during a visit to the country by French President Emmanuel Macron, which also celebrated the 50th anniversary of TotalEnergies’ operations in Saudi Arabia.

The three participating companies will use their expertise to establish a production unit that will create SAF from locally sourced residue feedstocks including animal fats and used cooking oil.

“We are delighted to [be] partnering with Aramco and SIRC to study the production of sustainable aviation fuels in the Kingdom,” stated TotalEnergies chair and CEO Patrick Pouyanné. “Saudi Arabia is emblematic of our multi-energy strategy aimed at supporting the energy transition of oil and gas producing countries.”

In 2014, TotalEnergies and Aramco entered into their first joint partnership: Saudi Aramco Total Refining And Petrochemical (SATORP), one of the world’s one of the most complex and efficient refining and petrochemical platforms, located in the industrial city of Jubail on the country's east coast. The two companies plan to begin the co-processing of used cooking oil there to produce SAF by 2026.

The partnership will expand the following year, as Amiral—a new $11 billion petrochemical complex attached to the refinery—is expected to become operational.

“With demand for air travel forecast to grow, it’s becoming imperative to address aviation emissions through lower-carbon alternatives such as sustainable aviation fuels,” said Aramco president Amin Nasser. “We already have a well-established partnership with TotalEnergies, and this new collaboration demonstrates our intent to explore ways to leverage our combined strengths, in this case with a view to establishing a sustainable aviation fuels plant in the Kingdom with SIRC.”

Ziyad Al-Shiha, CEO of SIRC, noted that his company has a focus on increasing the conversion of the Kingdom’s wastes into renewable resources, in line with the Saudi 2030 roadmap and the country’s green initiative. “The new partnership with Aramco and TotalEnergies to assess the feasibility of a renewable aviation fuels plant signifies a major leap forward in our mission,” he said. “We also believe it will enrich and energize our efforts to lead the development of the kingdom’s circular economy.”

adrian j boris
04/12/2024
10:58
TotalEnergies, EDF claim 1.7 GW in Saudi solar deal during Macron visit

Dec 4, 2024, 12:12:01 PM

Article by Martina Markosyan
RENEWABLESNOW


French energy groups TotalEnergies (EPA:TTE) and EDF emerged as major winners in a solar tender in Saudi Arabia, securing a combined 1.7 GW as announced during French President Emmanuel Macron's visit to Riyadh, where energy-related agreements were signed between French and Saudi companies.


The winners have signed 25-year power purchase agreements (PPA) for the sites under a build-own-operate model.

The solar projects are part of Round 5 of the National Renewable Energy Programme (NREP) which offered four projects totalling 3.7 GW. In November, the 2-GW Al Sadawi solar project was awarded to a consortium led by UAE-based developer Masdar.

A consortium comprising TotalEnergies and Saudi Arabia’s Aljomaih Energy and Water Company (AEW) signed the PPA with the Saudi Power Procurement Company (SPPC) related to the 300-MW Rabigh 2 solar project, the French firm confirmed separately. The plant is expected to become operational in 2026.

EDF Renewables has emerged as a winner for two projects of a combined 1.4 GW. The projects include the 1-GW Al-Masaa and the 400-MW Al-Henakiyah 2 schemes in which the French firm is partnering with the Chinese State Power Investment Corporation (SPIC).

TotalEnergies further announced the signing of a joint development and cost-sharing agreement with Saudi Investment Recycling Company (SIRC) and Saudi Arabian Oil Company (TADAWUL:2222), better known as Aramco, to explore the development of a sustainable aviation fuels (SAF) production site in the Kingdom.

SIRC has separately signed a memorandum of understanding (MoU) with French utility company Veolia (EPA:VIE) to create a regional leader in waste treatment. The two companies will pool their expertise to manage organic, industrial and hazardous waste at a regional and national level in a drive to preserve the resource as well as decontaminate and decarbonise the country by producing green energy, Veolia noted in a statement.

misca2
03/12/2024
20:02
Aramco, TotalEnergies and SIRC to explore sustainable aviation fuel plant in Saudi Arabia

Pact was announced during the French President Emmanuel Macron’s state visit to the kingdom

Alkesh Sharma

December 03, 2024

Saudi Arabia's Aramco, French petroleum company TotalEnergies and Saudi Investment Recycling Company have signed an agreement to explore the development of a sustainable aviation fuel plant in Saudi Arabia's eastern province.

The entities announced the signing of a joint development and cost-sharing agreement during French President Emmanuel Macron’s state visit to the kingdom. The partnership aims to leverage the latest engineering and recycling technologies to process local waste materials like used cooking oil and animal fats into synthetic alternatives to fossil fuels.

Aramco is pursuing various potential solutions to contribute to global emissions reduction efforts, said the company’s president and chief executive Amin Nasser.

“We already have a well-established partnership with TotalEnergies and this new collaboration demonstrates our intent to explore ways to leverage our combined strengths, in this case with a view to establishing a SAF plant in the kingdom with SIRC,” Mr Nasser said.


SAF is at the heart of our company's transition strategy, as we strive to meet the aviation industry's demand to reduce its carbon footprint Patrick Pouyanne,
TotalEnergies chairman and chief executive “As Saudi Arabia’s tourism and aviation sectors expand, this could potentially benefit both domestic and international airlines.”

The latest collaboration aligns with Saudi Arabia's Vision 2030 and the Saudi Green Initiative, emphasising the kingdom’s growing focus on sustainability in its expanding aviation and tourism sectors. If realised, the project could benefit the aviation industry, addressing the increasing need for low-carbon aviation solutions.

“SAF is at the heart of our company's transition strategy, as we strive to meet the aviation industry's demand to reduce its carbon footprint,” said Patrick Pouyanne, chairman and chief executive of TotalEnergies.

“By leveraging our expertise, we can take a further step towards the decarbonisation of air transport together.”

SAF is expected to contribute to about 65 per cent of the reduction in emissions needed by the aviation industry by 2050, according to the International Air Transport Association.

It accounts for just 0.53 per cent of the aviation industry’s fuel needs for this year, the global airlines lobby group said in June. While SAF production this year is on track to triple to 1.5 million tonnes, “exponential increases” in supply are needed, it said at the time.



The aviation sector is responsible for about 2 per cent of global carbon dioxide emissions.

SAF can reduce carbon emissions over the fuel’s life cycle by up to 85 per cent in comparison with petroleum jet fuel, according to the International Civil Aviation Organisation.

“We have a keen focus on increasing waste conversion rates into renewable resources. The new partnership … to assess the feasibility of a renewable aviation fuels plant signifies a major leap forward in our mission,” said Ziad Al-Sheha, chief executive of SIRC which collects and turns organic materials into sustainable products in Saudi Arabia.

In August, Abu Dhabi’s clean energy company Masdar also signed an agreement with TotalEnergies to explore a SAF project using methanol produced from green hydrogen.

The agreement came after a successful test flight conducted by the two companies during the Cop28 climate conference in December, which demonstrated the potential for converting methanol to SAF.


Updated: December 03, 2024, 6:25 PM
NATIONAL

adrian j boris
03/12/2024
19:12
TotalEnergies celebrates 50 years of operations in Saudi Arabia

December 03, 2024

TotalEnergies highlights the value of its multi-energy strategy and strategic partnerships in Saudi Arabia as the company reflects on half a century of operations in the Middle East Kingdom.

Following French President Emmanuel Macron’s state visit to Saudi Arabia, TotalEnergies emphasized the importance of its strategic partnership in the field of energy with the Kingdom under the patronage of His Royal Highness Prince Abdulaziz bin Salman Al Saud, Saudi Minister of Energy. In an official news release, TotalEnergies highlighted its successful multi-energy strategy in the Kingdom, flagships projects in the downstream oil sector, its partnership with Aramco and the development of renewables with various local partners.

"On behalf of TotalEnergies, I would like to celebrate our long history in Saudi Arabia, our strategic partnership with Aramco in particular, as well as the quality, loyalty and commitment of our stakeholders in the Kingdom's energy sector," said Patrick Pouyanné, Chairman and CEO of TotalEnergies. "Saudi Arabia is emblematic of our multi-energy strategy aimed at supporting the energy transition of oil and gas producing countries. Our activities to produce low-carbon and renewable energies contribute to the country's Green Initiative and Vision 2030’s objectives. So, we look forward to continuing to build beautiful things there for years to come.”


Jointly held by Aramco (62.5%) and TotalEnergies (37.5%), SATORP is one of the world’s best performing integrated refining and petrochemicals platforms, with a production capacity of 460,000 bpd.


Located in Jubail and commissioned in 2014, SATORP is the first platform in the Middle East North Africa region to receive ISCC+ certification (July 2022), a sign of international recognition of its circular projects such as the production of polymers from an oil made of recycled plastic waste


In 2022, SATORP played a vital role in ensuring France’s energy security. When sanctions shut Russian diesel out of Europe, SATORP delivered around 300 000 tons of diesel to France, which has made it possible to guarantee France's security of supply.


The construction of the Amiral petrochemical complex, which benefits from synergies with the SATORP platform, is already a third of the way through in line with its initial schedule, which is scheduled to start in 2027. The Amiral project alone, jointly developed by Aramco (62.5%) and TotalEnergies (37.5%), represents an investment of about $11 billion.

Solar projects

TotalEnergies is currently building the Wadi Al Dawasir solar power plant (119 MW) with its partners Toyota Tshusho (40%) and Al Taqaa Zahid (40%). It will be connected to the grid and operational at the beginning of 2025.


In addition, the consortium composed of TotalEnergies and Saudi developer Aljomaih Energy and Water Company (AEW) has signed, in November 2024, a 25-year power purchase agreement (PPA) with Saudi Power Procurement Company (SPPC) for the Rabigh 2 solar project (300 MW). The solar power plant will be developed, built, owned and operated by the consortium with a grid connection planned for 2026.


Finally, TotalEnergies is developing smaller-scale solar projects through its 50%- owned subsidiary Safeer with Al Taqa Zahid for industrial and commercial customers.


After successful tests carried out in 2024, Aramco and TotalEnergies have embarked on a project to co-process used cooking oil to produce sustainable aviation fuels at SATORP from 2026.

In addition, Aramco, TotalEnergies and Saudi Investment Recycling Company (SIRC) are assessing the development of a sustainable aviation fuels (SAF) production unit in synergy with SATORP.

This collaboration will draw on the expertise of the three partners to develop a production unit of sustainable aviation fuels by converting local residues from the circular economy, such as used cooking oil and animal fats.

WORLDOIL

adrian j boris
29/11/2024
21:33
TotalEnergies targets $750m gas project in Nigeria amid 2025 investment drive

Abubakar Ibrahim
BUSINESS.NG

November 29, 2024

French energy giant TotalEnergies could approve a $750 million gas project in Nigeria next year, indicating potential progress in the country’s bid to attract renewed investment in its hydrocarbon sector. Mike Sangster, senior vice president of Africa, exploration and production at TotalEnergies, made this known today at a France-Nigeria business forum in Paris.

“We have another dry gas project called Ima which we hope to sanction next year for about $750 million,” he said. The shallow-water project, developed in partnership with a local firm, aims to further enhance gas supply to the Liquefied Natural Gas (LNG) facility.

Earlier this year, TotalEnergies pledged around $500 million to a joint venture with the state-owned Nigerian National Petroleum Company (NNPC) Limited to develop the Ubeta onshore field. With an expected output of 300 million cubic feet per day, this project is set to strengthen the gas supply to the Nigerian Liquefied Natural Gas (NLNG) plant.

Since taking office in May 2023, President Bola Tinubu has been addressing issues in the oil and gas sector, signing two executive orders this year to improve efficiency. Nigeria is seeking to attract up to $10 billion in new investments for deep-water gas exploration through tax incentives and other measures outlined in a new policy framework.



“There’s still more to be done in terms of regulation, simplifying, accelerating the process, but we have appreciated some of the changes that have been made over the past year,” Sangster said.

They “have given us now the incentive or the motivation to go ahead and renew our investments in Nigeria so that we can stop the decline and start to increase production.”

Sangster advocated for a further easing of local content regulations to attract international contractors with expertise in deep-water projects back to Nigeria, noting that this would foster competition and revive investments that have been suspended.

the grumpy old men
28/11/2024
02:08
Total Pauses New York Offshore Wind Project After Trump Win
by Bloomberg
|
William Mathis, Jennifer A. Dlouhy

| Wednesday, November 27, 2024 | 4:00 PM EST


TotalEnergies SE has halted development of an offshore wind farm it plans to build off the coast of New York, as US President-elect Donald Trump signaled he’ll obstruct the green industry championed by his predecessor.

“Offshore wind, I have decided to put the project on pause” with Trump’s return, Total Chief Executive Officer Patrick Pouyanne said at an energy industry conference in London on Tuesday.

The move by the French oil-and-gas giant is one of the first tangible signs of a halt in investment in renewable power sources attributed to the incoming US administration. Trump, a frequent critic of wind power, said during the presidential campaign that he would target the offshore wind industry with an executive action on his first day in office.

It’s unclear how far Trump would go, though analysts have said the president-elect is likely to pause offshore wind lease sales and permitting of new ventures, like Total’s planned Attentive Energy project near New York and New Jersey.

Total’s decision may be a sign of things to come, said Timothy Fox, a managing director of the Washington-based research firm ClearView Energy Partners.

“Amid the changing political landscape, we are not surprised to see a developer pause an offshore wind project that’s in the preliminary stages of development,” he said. “We think other projects that are not in the advanced stages could stall too.”

Outgoing president Joe Biden vowed to create a US offshore wind industry that reaches 30 gigawatts by the end of the decade. Soaring costs and supply chain issues have made reaching that goal unlikely. Under Trump, additional progress could slow, since new and pending projects require federal sign off.

Total’s Attentive Energy, off the New Jersey and New York coasts, has the potential to generate 3,000 megawatts. The company previously said it anticipated the project would begin generating emission-free energy by the early 2030s. The company won the rights to develop the area of seabed in a record-setting auction in 2022.

Attentive Energy had not yet filed a proposed construction and operations plan with Interior Department regulators in charge of vetting offshore wind projects. Those federal permitting reviews typically stretch for at least three years.

By holding on to its lease, Total preserves the opportunity to resume work on the project after Trump’s four-year term. Meanwhile, domestic supply chains may continue to build up to serve other fully permitted wind farms planned along the US East Coast. Total could revive its project if a more environmentally friendly president takes office in the future, according to Pouyanne.

“I said to my team, the project in New York, we’ll see that in four years,” he said. “But the advantage is it’s only for four years.”

florenceorbis
26/11/2024
07:05
French energy giant Total puts Adani Group investments on hold

TNN / Updated: Nov 26, 2024, 02:37 IST

French energy giant TotalEnergies has paused further investments in Adani Group following US bribery allegations against its founder.

TotalEnergies, holding stakes in Adani's renewable energy and gas ventures, stated it was unaware of the US investigation. The company emphasized its zero-tolerance policy on corruption and clarified it wasn't directly implicated.

MUMBAI: French oil major TotalEnergies has announced suspension of additional investments in Adani Group companies pending the resolution of US bribery allegations against the Indian conglomerate's founder.

The Paris-based company, which holds strategic stakes in Adani Group's renewable energy and gas distribution businesses, said it was not made aware of the US investigation into corruption related to the Indian group's solar power business.

indiatimes.com

waldron
22/11/2024
21:30
22/11/2024 7:00am
RNS Regulatory News

RNS Number : 8579M
TotalEnergies SE
22 November 2024


Application has been made by TotalEnergies SE to the UK Listing Authority and the London Stock Exchange for the admission of 10,251,337 ordinary shares of TotalEnergies SE with a par value of 2.50 Euros per share, issued on June 6, 2024 in connection with a share capital increase reserved for employees.

Dealings on these shares are expected to commence on November 27, 2024.

grupo guitarlumber
20/11/2024
09:33
TotalEnergies, Oil India partner to tackle methane emissions

Economy Materials 20 November 2024 04:33 (UTC +04:00)


Maryana Ahmadova
fastmode

BAKU, Azerbaijan, November 20. TotalEnergies and Oil India Limited (OIL) have signed a cooperation agreement to use TotalEnergies’ AUSEA technology for methane emissions detection at OIL’s sites in India, Trend reports.

The AUSEA system, mounted on a drone, uses dual sensors to detect methane and carbon dioxide emissions and identify their sources, offering one of the most accurate tools available for emissions measurement.

This partnership follows OIL’s recent commitment to the Oil and Gas Decarbonization Charter (OGDC), a global initiative launched at COP28. The OGDC aims for net-zero operations by 2050, near-zero upstream methane emissions, and zero routine flaring by 2030. Through the agreement, OIL joins a growing list of companies using AUSEA to support these ambitious goals.

Dr. Ranjit Rath, Chairman of OIL, highlighted the importance of the collaboration, stating it reflects India’s commitment to global climate efforts. TotalEnergies’ CEO, Patrick Pouyanné, emphasized the impact of sharing best practices within the OGDC, which aims to significantly reduce methane emissions worldwide.

adrian j boris
19/11/2024
19:46
TotalEnergies to deploy emissions detection, measurement tech for Oil India sites

November 19, 2024

TotalEnergies and Oil India Limited (OIL) signed a Cooperation Agreement to carry out methane emissions detection and measurement campaigns using TotalEnergies’ pioneer AUSEA technology at OIL sites in India.

State-owned enterprise OIL recently joined the Oil and Gas Decarbonization Charter (OGDC), a global industry initiative launched at COP28, co-chaired by TotalEnergies’ CEO. The OGDC’s ambition is to work towards net-zero operations by 2050, as well as near-zero upstream methane emissions and zero routine flaring by 2030. Moreover, OGDC members are committed to measuring and publicly reporting progress.

In line with the OGDC’s principle of sharing good practices, TotalEnergies makes this technology available to other operators among the signatories, as an effective and recognized tool to detect, measure and eventually abate methane emissions on their own assets.

AUSEA gas analyzer

Mounted on a drone, the AUSEA gas analyzer, developed by TotalEnergies and its R&D partners, consists of a dual sensor capable of detecting methane and carbon dioxide emissions, while at the same time identifying their source. This technology marks a step change in methane emissions detection and measurement compared to traditional techniques. By allowing access to hard-to-reach emission points, on all types of industrial facilities, both offshore and onshore, AUSEA is reputed as one of the most accurate technologies in the industry.

“We are delighted that OIL has joined the growing list of national companies we are collaborating with by making our AUSEA technology available. This is a clear demonstration that the Oil & Gas Decarbonization Charter launched at COP28 has gained momentum, thanks to the promotion of industrial best practices. Today, AUSEA performs campaigns on every continent and contributes to the OGDC signatories’ ambition to aim at near-zero upstream methane emissions by 2030,” said Patrick Pouyanné Chairman and CEO of TotalEnergies.

Commenting on the pact, Dr. Ranjit Rath, Chairman & Managing Director of OIL, said “By joining our peers in the OGDC, OIL reiterates India’s commitment to the global community, while underscoring OIL's dedication to reducing emissions. OIL is pleased to be collaborating with TotalEnergies, an industry pioneer in methane emissions detection and measurements.”


World Oil, Gulf Publishing Company LLC.

the grumpy old men
09/11/2024
08:14
Court bid to block TotalEnergies gas project off West Coast

Fishers and activists want government to reverse environmental authorisation.

By Liezl Human, GroundUp 8 Nov 2024 04:02



A small-scale fishing cooperative and environmental justice organisations have launched a court bid to stop French giant TotalEnergies from exploring for oil and gas off the West Coast.

TotalEnergies announced in July that it would withdraw from two other offshore exploration projects, one off the South Coast and another located between Cape Town and Cape Agulhas.



However, the company intends to go ahead with exploration in the Deep-Water Orange Basin between Port Nolloth and Hondeklipbay, between 188km and 340km from the coast. It will include up to 10 exploration well drills.

The Aukotowa small-scale fisheries cooperative and two environmental justice organisations – The Green Connection and Natural Justice – launched an application in the Western Cape High Court on 31 October. They are opposing the environmental authorisation for the project by the Department of Mineral Resources (DMR) and the Department of Forestry, Fisheries and the Environment (DFFE).

‘Gas shouldn’t be part of just transition’

In their founding papers, they argue that natural gas is carbon-intensive and should not be part of South Africa’s just transition and commitment to net-zero emissions by 2050.

They say the government has failed to assess the ecological impacts the exploration and production of offshore oil and gas will have and that the oil spill risk assessment is flawed.

While the risk of an oil spill is reported as “unlikely̶1;, the impact of an oil spill is reported as “high” and “very high”.

They argue that an oil spill is a “highly significant potential impact” that would be felt “most acutely” by the West Coast fishers like Aukotowa “as well as across the country and for years after the event”.

They also argue that the impact assessments failed to consider the socio-economic impacts on the Aukotowa fishers, who have no other form of employment and whose livelihoods will be destroyed by an event like an oil spill.



In his founding affidavit, the chair of the Aukotowa cooperative, Walter Steenkamp, said the fishers in Port Nolloth depend entirely on the ocean for their livelihoods.

“In recent years we have seen a decline in our fish stocks and changes in their migration patterns.

“We need to go further out to sea in our small row boats which is a safety risk for us. We believe that these changes are due to climate change,” said Steenkamp in his affidavit.

“Aukotowa is extremely concerned about the degradation of the oceans and our local coastline, which is at the heart of so much of our history and culture and is also now the source of our livelihoods,” he said.

Gas a ‘transition fuel’

In its environmental impact assessment, TotalEnergies said that natural gas is a “transition fuel” and “is included in the energy mix of the country to serve as a transition or bridge on the path to carbon-neutrality from 2050 onwards (in terms of the Paris Agreement) and provide the flexibility required to complement renewable energy sources”.


However, environmental groups say the project “flies in the face of South Africa’s climate commitments”. In a media statement on the court case, they cite the Intergovernmental Panel on Climate Change’s warning against the further development of fossil fuels.

GroundUp sent questions to the DMR, the DFFE, and TotalEnergies. None of them had responded by the time of publication

.
GroundUp. This article was first published here.

Follow Moneyweb.zm

adrian j boris
07/11/2024
11:37
TotalEnergies to Supply Sinopec with 2 MMtpa of LNG for 15 Years


by Jov Onsat
|
Rigzone Staff


| Thursday, November 07, 2024 | 4:04 AM EST



TotalEnergies SE has signed an agreement with China Petroleum & Chemical Corp. to supply the state-owned refiner with two million tons per annum (MMtpa) of liquefied natural gas (LNG) for 15 years starting 2028.

“Thanks to this major agreement with one of the leading LNG players in the country, TotalEnergies strengthens its long-term position in the LNG market in China, the largest market in the world”, TotalEnergies said in a statement.

“In China, natural gas is a key component of the energy transition as it mitigates the intermittency of rapidly growing renewable energies and helps reduce greenhouse gas emissions when it replaces coal in electricity production”, the French energy major added.

TotalEnergies aims to increase the share of natural gas in its sales mix to nearly 50 percent by 2030.

“This new agreement demonstrates the competitiveness of TotalEnergies’ LNG business and allows us to continue growing our long-term sales in Asia”, Stéphane Michel, president for gas, renewables and power at TotalEnergies, said in the online company statement.

Sinopec senior vice president Niu Shuanwen commented, “Natural gas is an important enabler for realizing energy transition and dual carbon goals.”.

“Sinopec is committed to building the world's leading clean energy and chemical company and will continue to promote energy transition and the clean, diversified and secure supply of energy”, Niu added.

The agreement is part of the “strategic cooperation agreement” the companies forged in May during Chinese President Xi Jinping’s state visit to France, TotalEnergies said in the statement.

The cooperation pact aims to grow the companies’ existing partnerships by collaborating on biofuels, green hydrogen, carbon capture and other decarbonization activities, according to a TotalEnergies press release May 7.

Last September TotalEnergies announced long-term agreements to export LNG to China, South Korea and Turkiye.

On September 24 it said it had signed a heads of agreement with HD Hyundai Chemical Co. Ltd. for the sale of 200,000 metric tons per year. The agreement lasts seven years from 2027.

On September 19 TotalEnergies said it had secured a five-year extension to a contract with China National Offshore Oil Corp. for the delivery of 1.25 MMtpa of LNG until 2034.

On September 18 TotalEnergies said it had inked a heads of agreement with Turkiye’s state-owned BOTAS for the delivery of 1.1 MMtpa of LNG for 10 years from 2027.

TotalEnergies said the long-term sales to Asia reduce its exposure to spot market prices.

To contact the author, email jov.onsat@rigzone.com

gibbs1
07/11/2024
03:01
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

gibbs1
Chat Pages: 36  35  34  33  32  31  30  29  28  27  26  25  Older

Your Recent History

Delayed Upgrade Clock