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 default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

TTE Totalenergies Se

67.80
-0.05 (-0.07%)
24 Apr 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
  -0.05 -0.07% 67.80 64.90 70.90 71.50 71.30 71.50 842,558 16:35:25
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 219.47B 21.38B 8.7423 7.77 166.11B
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 67.85 €. Over the last year, Totalenergies shares have traded in a share price range of 48.74 € to 71.50 €.

Totalenergies currently has 2,446,031,102 shares in issue. The market capitalisation of Totalenergies is 166.11 € billion. Totalenergies has a price to earnings ratio (PE ratio) of 7.77.

Totalenergies Share Discussion Threads

Showing 226 to 244 of 825 messages
Chat Pages: Latest  21  20  19  18  17  16  15  14  13  12  11  10  Older
DateSubjectAuthorDiscuss
01/12/2021
10:11
otalEnergies' tantalising Venus-1 wildcat spuds offshore Namibia

Maersk Voyager has started drilling vaunted ultra-deepwater exploration well in block 2913B

30 November 2021 12:59 GMT Updated 1 December 2021 8:48 GMT

By Iain Esau
in London

TotalEnergies, the French supermajor, has spudded its much-hyped Venus-1 wildcat offshore Namibia that will target a multi-billion-barrel mega-structure.

grupo guitarlumber
30/11/2021
18:23
WISHFUL THINKING PERHAPS FOR THE LONG LONG TERM TARGET

Should be fun to chalk it up BOX BY BOX

THE TotalEnergies WISH LIST BOXES togetherwith Broker targets thrown in for good measure to make you laugh,chuckle,smile and or smirk

38 to 40 euros
40 to 42 euros $$$ WE ARE HERE $$$$ $$$ UBS target 42 euros

42 to 44 euros

44 to 46 euros
46 to 48 euros $$$ Jefferies target 47 euros and HSBC ups target to 47.40 euros
48 to 50 euros $$$ Deutsche Bank targetting 48.30 euros
50 to 52 euros $$$ Berenberg targets 50 euros with Morgan Stanley targeting 50.30 euros and ODDO at 51.50 euros

52 to 54 euros $$$ RBC targets 54 euros and JP Morgan targeting 52 euros
54 to 56 euros $$$ Barclay target 55 euros
56 to 58 euros
58 to 60 euros $$$ Goldman Sachs target 60 euros


Mean consensus BUY

Number of Analysts 25

$$$$$$$$$$$$$$$$$$$$$$$$

Average target price 51.50 euros approx

Highest target 60 euros

Lowest target 42 euros

$$$$$$$$$$$$$$$$$$$$$$$$$

Support seems to be at 42.91 euros with strong resistence at 42.03 euros



$$$$$$$$$$$$$$$$$$$$$$$$$






HISTORIC SHARE PRICES

December 2019 ends at 49.20 euros

December 2020 ends at 35.30 euros

August 2021 ends at 36.7875 euros

September 2021 ends at 41.335 euros

October 2021 ends at 43.37 euros

November 2021 ends at 40.61 euros

waldron
30/11/2021
18:19
[France] TOTALENERGIES SE (TTE)

Real-time Quote. Real-time Euronext Paris - 11/30 04:38:55 pm

40.61 EUR -1.43%

waldron
30/11/2021
07:53
TotalEnergies SE : A pullback with significant trading volume

11/30/2021 | 07:38am GMT

Tommy Douziech

short sell

Entry price : 41.2€ | Target : 38.96€ | Stop-loss : 42.2€ | Potential : 5.44%

Sellers are regaining the upper hand for stocks in TotalEnergies SE while trading volume and volatility has picked up.

Investors should open a short trade and target the € 38.96
.
TotalEnergies SE : TotalEnergies SE : A pullback with significant trading volume
Summary

The company has strong fundamentals. More than 70% of companies have a lower mix of growth, profitability, debt and visibility.

Overall, and from a short-term perspective, the company presents an interesting fundamental situation.

The company's Refinitiv ESG score, based on a ranking of the company relative to its industry, comes out particularly well.


Strengths

The equity is one of the most attractive in the market with regard to earnings multiple-based valuation.

The company has attractive valuation levels with a low EV/sales ratio compared with its peers.

The company appears to be poorly valued given its net asset value.

Given the positive cash flows generated by its business, the company's valuation level is an asset.

The company is one of the best yield companies with high dividend expectations.

Over the last twelve months, the sales forecast has been frequently revised upwards.

Growth remains a strong point in this company. In their sales forecast, analysts sound optimistic with regard to sales prospects.
For the last twelve months, analysts have been gradually revising upwards their EPS forecast for the upcoming fiscal year.

For the past twelve months, EPS forecast has been revised upwards.

Analysts have a positive opinion on this stock. Average consensus recommends overweighting or purchasing the stock.

The difference between current prices and the average target price is rather important and implies a significant appreciation potential for the stock.


Weaknesses

The company's currently anticipated earnings per share (EPS) growth for the next few years is a notable weakness.

The overall consensus opinion of analysts has deteriorated sharply over the past four months.

The company's earnings releases usually do not meet expectations.

ariane
29/11/2021
12:51
TotalEnergies [TTEF] shares up 2.68% on solar plant news

an hour ago

Angelique Ruzicka


Capital.com

TotalEnergies has built a huge new solar plant in France – Photo: Shutterstock
For traders News Stocks TotalEnergies [TTEF] shares up 2.68% on solar plant news

TotalEnergies [TTEF] has launched the largest photovoltaic solar power plant in France to support the development of renewable energies in the country and meet its net zero ambitions.

The solar farm, located in the town of Gien in the Loiret region, has a capacity of 55 megawatts (MW) and comprises 126,000 photovoltaic panels spread over 75 hectares.

The company’s share price rose by 2.68% to €41.62 ($46.96) on the back of the announcement made today.

Renewable commitments

“TotalEnergies once again confirms its commitment to the development of renewable energies in partnership with the regions. I would like to thank all of the project stakeholders who helped develop our largest solar farm in France,” said Thierry Muller, CEO of TotalEnergies Renewables France.

“This commissioning contributes to France’s energy transition and is a further step towards our goal of reaching four gigawatts (GW) of renewable generation capacity by 2025. It reinforces our commitment to be a major player in renewable energy in France,” Muller continued.

The company said project also includes:

Participative financing – the plant was built with participative financing of €2,200,200, coming largely from 212 Loiret residents.

A biodiversity protection plan – TotalEnergies has implemented measures to preserve biodiversity, including the installation of bag shelters and the construction of a pond to promote amphibian breeding.

More solar projects

The new plant is not the only solar project that TotalEnergies is set to work on. Earlier this month, the French operator was awarded 51MW of solar projects in the 10th round of the CRE 4 (French Energy Regulatory Commisison) tender.



The company said the eight projects will be commissioned by the end of 2023 and operated by TotalEnergies’ teams following its expansion of its workforce.

In total, the company has won 707MW of solar projects in the last 10 bidding periods, making it the second biggest solar energy developer in France.

Name change to highlight renewable focus

TotalEnergies’ ambition is to reach net zero by 2050, and it is building a portfolio of activities in renewables and electricity to achieve this goal.

The French group was formally known as Total and is one of the ‘Big Oil’ companies. It changed its name to TotalEnergies earlier this year to create a new visual identity and highlight its change in strategy to becoming a broad energy supplier.

The name change comes following increasing pressure on oil companies in recent years to shift their focus away from fossil fuels.

waldron
27/11/2021
19:21
rt.com



Energy majors face $3.3-trillion ‘green’ nightmare

27 Nov, 2021 06:27 / Updated 7 hours ago


By Tsvetana Paraskova for Oilprice.com

The largest international oil and gas firms wrote down assets worth $150 billion last year, when prices crashed due to the demand slump during the pandemic.

Despite the fact that this year’s oil prices are now nearly double compared to the 2020 average, the energy industry faces additional impairments in the coming years and decades, this time due to the investor pressure to slash emissions and start accounting for changes to energy demand in the transition to low-carbon sources.
‘Mutant’ virus attacks global oil READ MORE: ‘Mutant’ virus attacks global oil

All industries are under pressure to realign their accounting and financing practices to climate change-related risks, but none more so than the large companies in the energy sector the core business of which continues to be oil, gas, and coal.

The increased scrutiny and pressure on companies from investors and society, as well as uncertainties over long-term demand for fossil fuels, could leave assets currently estimated to be worth trillions of US dollars stranded in the future.

Recent studies have suggested that more than half of oil and gas reserves should remain in the ground if the world is to limit global warming to 1.5 degrees Celsius above pre-industrial levels by 2050.

Carbon prices and additional regulations to limit carbon emissions could make a greater number of fossil fuel assets – especially coal – unprofitable as governments, especially in developed nations, press for net-zero emission economies by 2050.

Businesses are waiting for details on carbon markets and carbon emission rules and, potentially, carbon taxes, before re-evaluating their assets, analysts tell The Wall Street Journal.


“Carbon charges are likely to come, and they will transform the upstream sector, affecting both asset values and the industry's economics,” WoodMac analysts said earlier this year.

With carbon taxes and prices, more reserves and operations of energy companies, not only in the upstream sector, could be left as “stranded assets.”

Energy Firms Face Trillions Of Stranded Assets By 2050

In its World Energy Transitions Outlook: 1.5°C Pathway report from June 2021, the International Renewable Energy Agency (IRENA) reiterated its estimates from two years ago.

“Delaying action could cause this value to rise to an alarming $6.5 trillion by 2050 – almost double. Planning in advance also supports a just transition, assisting in the reallocation and creation of jobs and services,” according to IRENA.

Last year, the biggest oil and gas firms in North America and Europe alone wrote down over $150 billion off the value of their assets, the highest since at least 2010 and representing around 10% of the companies’ combined market capitalizations, an analysis by the Wall Street Journal showed in December.

The reassessment of oil and gas assets was so widespread that even ExxonMobil – which, until last year, hadn’t really adjusted the value of its assets in many years – warned of massive write-downs of between $17 billion and $20 billion after-tax in Q4 in its gas assets in the United States, Canada, and Argentina, due to the pandemic and its effect on the industry.

TotalEnergies even used “stranded assets” in qualifying Canadian oil sands projects Fort Hills and Surmont as such.

While the write-downs of 2020 were the direct result of the collapse in prices leading to the reduced value of assets, future impairments would likely be driven by climate-related risks, analysts and think tanks say.

Not all assets will pass the scrutiny to be resilient and profitable in a world that will still need oil and gas but aims to significantly limit energy-related emissions.


Long-Term Stranded Assets Risk

If the world's 60 largest listed oil and gas companies continue with a business-as-usual approach, more than $1 trillion of such business-as-usual investment is at risk, including $480 billion in shale/tight oil projects and $240 billion in deepwater projects, financial think tank Carbon Tracker said in a report in September.

“Companies and investors must prepare for a world of lower long-term fossil fuel prices and a smaller oil and gas industry, and recognise now the risk of stranded assets that this creates,” Carbon Tracker Head of Oil, Gas and Mining and report co-author Mike Coffin said.

According to a recent study of researchers from the University College London (UCL), nearly 60% of both oil and fossil methane gas and almost 90% of coal must remain in the ground by 2050 in order to keep global warming below 1.5 degrees Celsius. The findings, published in Nature in September, are based on a 50% probability of limiting warming to 1.5 degrees Celsius this century. This would mean that reaching this target would require an even more rapid decline in production and more fossil fuels left in the ground, UCL researchers say.

Still, the world will need oil and gas for decades to come. Yet, the pressure to account for climate-related risk to assets could bring about billions of asset impairments in the energy industry every year and leave trillions-worth of fossil fuel assets stranded.

“Just a few years ago, few within the oil and gas industry would even countenance ideas of climate risk, peak demand, stranded assets, liquidation business models and so on. Today, companies are building strategies around these ideas,” Luke Parker, vice president, corporate analysis, at Wood Mackenzie said last year, commenting on the massive write-downs at Shell and BP.

“Demand might still grow from here, and many companies are still chasing a share of that growth. But make no mistake, the corporate landscape is changing, and the majors are changing with it.”

waldron
26/11/2021
19:19
Bp
317.65p -7.86%


Royal Dutch Shell A
1,556.2p-5.66%



Royal Dutch Shell B
1,556.4p-5.64%

TotalEnergies
40.5 euros -5.93%

Eni
11.53 euros-6.23%

TULLOW OIL PLC (TLW)
43.47p -7.79%

what a grey day

waldron
24/11/2021
22:33
Guyana Is Walking A Fine Line With Its Oil Boom

By Felicity Bradstock - Nov 24, 2021, 3:00 PM CST

Guyana’s oil boom has the potential to turn the South American nation into one of the richest countries in the world on a per capita basis

The country has to balance this oil boom with the fact that it is under serious threat from climate change and much of its economy depends upon keeping its environment clean

If successful, Guyana could set an example for countries attempting to exploit natural resources while also protecting the environment

Join Our Community

Guyana is treading a fine line between its potential for economic growth through new oil developments and the risk of environmental degradation and rising sea levels associated with fossil fuel-driven climate change. Guyana, the small South American country of just 800,000 people, has become world famous over the last year thanks to the promise of low-cost and high output oil operations in its newly established oilfields. Based on recent discoveries by ExxonMobil, TotalEnergies, and Tullow Oil, Guyana is thought to have 10 billion barrels of crude reserves.

With production starting in 2019, and more and more discoveries being made over the last two years, Guyana’s future in energy looks bright. One of the poorest countries in South America could soon become one of the richest countries in the world per capita if projections about its planned oil production are correct.

However, following the COP26 climate summit earlier this month, much of the world is focused on transitioning away from fossil fuels towards renewable alternatives, not investing in long-term new oil developments. And Guyana is all too familiar with the effects of climate change, experiencing severe floods earlier this year that destroyed crops and homes. Georgetown, the coastal capital of Guyana, is at risk of being submerged within the next decade if sea levels continue to rise. So how will Guyana tread the line between developing its oil riches, and boosting the country’s struggling economy, while ensuring environmental stability?

The challenge faced by Guyana could have a positive effect on the country’s new industry, with a major focus on the development of low-carbon oil production. Both the international and national actors involved in the new exploration and extraction projects are under pressure to meet net-zero international targets. The country could follow the path set out by Saudi Arabia, which is promising to significantly reduce its carbon emissions while increasing its oil production over the coming decades.

Guyana recognizes the challenges it is facing and has asked for assurances from energy firms pumping oil in the region that the country will be protected from the knock-on effects of production. The head of Guyana’s environmental agency has announced that the country will be asking oil operators to guarantee financial assistance in the event of oil spills as well as the removal of disused oil infrastructure.
Related: Granholm: Biden Still Has More Tools To Solve High Gasoline, Energy Prices

In talks with a national oil consortium, led by Exxon, Guyana is pushing for an agreement to expand upon the events covered by Exxon’s $5 billion self-insurance policy. If new legislation is adopted, it would ensure that several oil operators in the Stabroek block cover the environmental costs associated with oil spills as well as the decommissioning of oil platforms once a project is complete.

Guyana holds all the cards when it comes to oil production, as the world’s oil majors are moving away from carbon-heavy operations and focusing on new, reliable areas, where they can shape low-carbon production, in Africa and the Caribbean. Just this month, Exxon announced that it’s in discussions with Dutch contractor SBM Offshore NV over the potential for a fourth multibillion-dollar production rig. Although production has already commenced under existing agreement terms, if international oil majors hope to expand operations in the South American country, they will likely have to agree to Guyana’s terms.

In addition to environmental challenges, if Guyana wants its population to support the new oilfield developments, the revenues from the black gold will have to trickle down faster. At present, the Guyanese population is seeing demand for travel and accommodation go up as prices across the country rise with increased demand. However, the average person has not yet seen an increase in their income or other economic benefits in line with the new developments. Sharing the wealth is vital for a country that prior to the recent boom relied largely on fishing and agriculture, industries that are becoming increasingly complicated due to climate change.

Richard Rambarran, Executive Director of the Georgetown Chamber of Commerce and Industry, suggested that Guyana has the potential to become a high-income country over the next 30 years, and a “leader of the global south for sustainable development” if the revenues are invested back into the country.

As one of the world’s poorest countries, it was inevitable that Guyana would respond to the influx in investment offered by some of the world’s biggest oil companies when they made huge crude discoveries. However, Guyana is severely threatened by climate change, with many people in the country relying on the environment for their basic income. Over the next decade, as Guyana’s oil industry takes shape, it must demand low-carbon production from oil operators, as well as assurances that they will pay for any damage caused by the extraction and production of oil. In addition, oil revenues could support sustainable development and boost per capita income if managed well, making Guyana a sustainable example of an emerging oil nation.

By Felicity Bradstock for Oilprice.com

grupo guitarlumber
22/11/2021
23:26
TotalEnergies hires offshore aerial services in Brazil


Bnamericas Published: Monday, November 22, 2021

Omni Táxi Aéreo was recently hired in a bidding process held by TotalEnergies in order to support the drilling operation in Block C-M-541, located in the pre-salt of Campos Basin.

The block was acquired by the French company in partnership with Qatar Petroleum in the 16th ANP Round in 2019. The project initially foresees the drilling of exploratory wells in the Marolo 1 and Ubaia 1 prospects, both in deep water.

The new contract calls for the use of a medium or large aircraft, still to be defined, of the AW139 or S92A models, based in Macaé, to carry out transfer flights and aeromedical coverage. Operations should start at the end of this year. This means an increase in the relationship between Total Energies and OMNI, which currently supports the oil company in its operation in the Lapa Field with an S92A aircraft.

"Omni is very honored for the opportunity to carry out yet another operation for Total. Winning this bid gives us the certainty that we are on the right track, providing excellent service to Total, which fills us with pride and satisfaction. We will keep on doing our best, with dedication and professionalism, so that the relationship with this important client gets even stronger and so that with the operation of C-M-541 we repeat the success we have experienced in Lapa", says Roberto Coimbra, General Director of Omni Air Taxi.








BNamericas

waldron
20/11/2021
07:41
oilprice extract


Europe's Energy Crisis To Worsen This Winter

By Editorial Dept - Nov 19, 2021, 2:00 PM CST

Geopolitics ExxonMobil and Qatar Petroleum are several weeks away from a resumption of exploratory drilling offshore Cyprus, while French Total SA and Italian Eni are set to resume drilling in the same area in H1 2022.

This drilling update coming from the Cypriot government prompted a retaliatory statement from Turkey, with Ankara - which contests waters in the area that overlap its continental shelf and fall offshore Turkish Cyprus - saying it would not be deterred from drilling nearby in contested waters.

Statements like this will make investors in these Western drillers nervous, given a prior incident in 2018 when Turkish warships impeded Eni’s drillship from exploring.

ariane
18/11/2021
19:01
Support seems to be at 42.695 euros with strong resistence at 44.865 euros
grupo guitarlumber
18/11/2021
18:45
[France] TOTALENERGIES SE (TTE)

Real-time Quote. Real-time Euronext Paris - 11/18 04:39:27 pm

43.07 EUR -1.08%

grupo guitarlumber
18/11/2021
15:46
Business
Total Energies chairman, Stanislas Mittelman, resignation costs investors N8.14bn

Published 13 mins ago

on November 18, 2021

By Olalekan Fakoyejo

Investors reacted negatively with the change in management of Total Energies Marketing, as the oil and gas company’s market capitalisation crashed by 9.96 percent on Tuesday.

The Nigerian subsidiary had disclosed on Wednesday that its chairman, Stanislas Mittelman, had resigned from his position, and also quit his role in the board of TotalEnergies SE.

Mittelman resigned with immediate effect, giving way to Rufa’i Sirajo, who will hold the position as Acting Chairman until a new chair is appointed by the Board of Directors in the next meeting.

“We write to formally notify the investing public and the Nigerian Exchange Limited that Mr. Stanislas Mittelman has resigned from the Board of TotalEnergies SE with immediate effect, and so he ceases to be the Chairman of the Board of TotalEnergies Marketing Nigeria Plc.


“Engr. Rufa’i Sirajo will assume the position of Acting Chairman pending the next meeting of the Board of Directors when a new Chairman will be appointed.”

Ripples Nigeria analysis showed that a day before the revelation was made, Total Energies Marketing share value depreciated by 9.96 percent, and traded flat on Wednesday.

It declined to N216.8kobo per share, from N240.8kobo, which it has been selling for since October 29 – This caused investors to lose N8.14 billion out of their total investment which crashed from N81.75 billion to N73.60 billion.
Join the conversation

Ripples Nigeria

adrian j boris
18/11/2021
01:45
Oddo indicates that TotalEnergies is the most attractive value in the sector with a price target of 51.50 E.
gibbs1
17/11/2021
15:40
TotalEnergies wants out of challenging Norwegian gas project

French supermajor searching for buyers for its 20% stake in Shell’s $1.8 billion Linnorm project offshore Norway

17 November 2021 13:10 GMT Updated 17 November 2021 14:01 GMT

By Ole Ketil Helgesen
in Stavanger

TotalEnergies is looking to sell its interest in the development of the Linnorm gas field offshore Norway. Shell and the other partners are forging ahead

waldron
17/11/2021
04:11
APA Reports Successful Flow Test at Sapakara South Well, Sub-Commercial Black Oil Discovery in Bonboni Well in Offshore Suriname
11/16/2021 | 10:57pm GMT

(MT Newswires) -- APA (APA) said late Tuesday it was able to conduct a successful flow and subsequent pressure build-up tests at the Sapakara South-1 appraisal well.

The company also discovered sub-commercial black oil at the Bonboni-1 exploration well in the northern portion of Block 58 in offshore Suriname.

APA Suriname has a 50% working interest in the block, while TotalEnergies (TTE), the operator, holds a 50% working interest, according to a statement.

"In a Maastrichtian objective, the well penetrated 16 meters (52 feet) of net pay in a single zone, consisting of low-GOR, 25-degree API black oil. The aerial extent of this pay zone is not sufficient to support commercial development, and the well will be plugged and abandoned," the company said.

Once operations at Bonboni are completed, APA will focus on the drilling of the Krabdagu exploration prospect, situated 18 kilometers east of SPS-1, according to the statement.

APA will also mobilize the Noble Gerry de Souza drilling ship to Block 53 early in 2022, where the company has one committed well and options for two additional wells

sarkasm
17/11/2021
04:08
LIBYAREVIEW


Total Discusses Investment Opportunities in Libya


November 17, 2021
Updated: 4 hours ago

By
Mohamed Emad

On Monday, Libyan Oil Minister, Mohamed Aoun met with a delegation from France’s Total Energy, to discuss investment opportunities in Libya.

A number of topics concerning the company’s activity in Libya were brought up, in addition to its future projects in the fields of oil and gas production and alternative energy.

They also discussed Total’s participation in the Energy and Economy Forum next week.

In October, Aoun received the French Ambassador to Libya, Beatrice de Helene and a French business delegation.

The French delegation discussed ways to support the oil and gas sector in Libya, especially investment opportunities in the fields of energy, oil and gas, security technology, and digital technology.

The delegation from the Mouvement des Entreprises de France (MEDEF) arrived in Libya in October, for the first visit of its kind since 2012. The included members of Total, CEO of Medef international, and the President of the Franco-Libyan chamber of commerce.

According to the French magazine, Jeune Afrique the visit aimed to reaffirm French interest in this country, before the Paris International Conference on Libya led by French President, Emmanuel Macron.

In early October, the Libyan Prime Minister, Abdel-Hamid Dbaiba announced the readiness of Total to invest more than €14 billion euros in Libya.

In April, Chairman of the National Oil Corporation (NOC), Mustafa Sanalla met with Total CEO, Patrick Pouyanne in Tripoli. The two sides discussed the upcoming plans of the French energy producer in Libya. The NOC said it is banking on Total to help it boost output, and assist with the maintenance of its oil infrastructure.

The NOC and Total touched upon the needs of the Al-Waha and Mabrouk companies to increase production rates according to short, medium, and long-term plans. They also reviewed the establishment of solar energy in the systems of the Al-Waha Oil Company.

sarkasm
11/11/2021
17:27
S and b platts

11 Nov 2021 | 14:43 UTC

TotalEnergies sees little change in African output as pipeline to start

Highlights

African output at 1.2 million boe/d

East African Crude Oil Pipeline construction to begin

Final agreement signed with Uganda, Tanzania

Author
Claudia Carpenter

Editor
Aastha Agnihotri


TotalEnergies expects its African oil and gas production to be "pretty much flat" next year, a source within the French company told S&P Global Platts on the sidelines of the African Oil Week conference in Dubai which ended Nov. 11.


The French company's current operated output in sub-Saharan Africa is 1.2 million boe/d, led by Nigeria and Angola, the person said, asking not to be identified. About 70% of the production is oil and the rest is gas.

The main construction activities of the East African Crude Oil Pipeline project will start in 2022, according to a source close to the project, after a final agreement was signed in April with Uganda and Tanzania. Work has started to raise about 60% external financing for the $3.5 billion needed for construction of the project, which would pave the way for the Lake Albert oil project which is expected to start producing by early 2025, the source said.

The company's global oil production is also expected to be flat for the next decade while its LNG production is expected to climb by 6% a year, officials told the African Oil Week. The company is focusing on achieving net zero carbon emissions worldwide by 2050. TotalEnergies is targeting growth in projects that are both low cost of less than $20/b and low GHG emissions, officials said.

TotalEnergies inaugurated a $200 million "natural carbon sink" project in Congo which involves planting trees over 40,000 ha in the Bateke Plateaux to capture some 10 million mt of CO2 over 20 years.

waldron
10/11/2021
17:59
TotalEnergies
43.915 +0.87%

grupo guitarlumber
Chat Pages: Latest  21  20  19  18  17  16  15  14  13  12  11  10  Older

Your Recent History

Delayed Upgrade Clock