Totalenergies Share Discussion Threads

[waldron] 26/8/2022 08:33

TotalEnergies SE on Friday denied speculation that it was involved in producing kerosene for the Russian army via its partnership with natural-gas producer Novatek.

The statement follows a previous denial and comes in response to speculation in French newspaper Le Monde earlier this week that TotalEnergies may have had a hand in supplying Russia's military with gas condensate for jet fuel as part of its partnership with Novatek.

The French energy company said such speculation had no basis in fact.

"The range of products derived during processing at the Ust-Luga Complex includes jet fuel that is exclusively exported outside Russia, and it does not even have the certification to be sold inside the country," TotalEnergies said.



Write to Maitane Sardon at [e-mail]



(END) Dow Jones Newswires

August 26, 2022 03:28 ET (07:28 GMT)

[adrian j boris] 23/8/2022 08:11

TotalEnergies announces offshore gas discovery in Block 6

Published by Emily Thomas, Assistant Editor
Oilfield Technology, Tuesday, 23 August 2022 08:51

TotalEnergies and Eni have made a significant gas discovery at the Cronos-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 discovery made on the same Block in 2018.

Located at approximately 160 km southwest of the Cyprus coast, Cronos-1 encountered several good quality carbonate reservoir intervals and confirmed overall net gas pay of more than 260 meters.

“This successful exploration well at Cronos-1 is another illustration of the impact of our Exploration strategy which is focused on discovering resources with low technical cost and low carbon emissions, to contribute to energy security including to provide an additional sources of gas supply to Europe” said Kevin McLachlan, Senior Vice President, Exploration at TotalEnergies.

The drilling of another exploration well on Block 6 is planned, in order to investigate significant additional resource upside and to evaluate the best development options.

TotalEnergies holds a 50% interest in Block 6, where Eni is the operator (50%). In Cyprus, TotalEnergies is also present in offshore Block 11 (50%, operator), 7 (50%, operator), 2 (20%), 3 (30%), 8 (40%) and 9 (20%).

[waldron] 23/8/2022 07:15

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and its partner SSE Renewables, has announced first power generation from the Seagreen offshore wind farm, 27km off the coast of Angus in Scotland.



The first turbine, of a total of 114, was commissioned in the early hours of Monday morning. The aim is for the 1075 MW farm to be fully operational in the first half of 2023. The $4.3bn Seagreen project will be Scotland's largest offshore wind farm and the world's deepest fixed bottom wind farm as it is being developed in 59 meters of water depth.



"We are delighted to announce the start of power generation from Seagreen, our first offshore wind steps in the UK North Sea" said Vincent Stoquart, Senior Vice President Renewables at TotalEnergies. "This marks a new step in the development of TotalEnergies' offshore activities capacity. This milestone will contribute directly to our objective of reaching 35 GW of renewable electricity capacity worldwide by 2025."



"We often talk about key milestones along a project's journey, and Seagreen has had a number to date, but to see this turbine turning in the North Sea and to have reached first power safely, is a fantastic achievement for everyone connected to the project. The project has already brought several benefits to the local community, the UK supply chain and, once completed, Seagreen will make a significant contribution to Scotland and the UK's ambitious renewable energy targets," said Paul Cooley, Director of Offshore Wind, SSE Renewables.



TotalEnergies entered into an agreement with SSE Renewables to acquire a 51% stake in the Seagreen project in June 2020. Seagreen has a capacity of 1075 megawatts (MW).



When fully operational, the site will produce around 5 terawatt hours (TWh) of renewable electricity per year, enough to power the equivalent of 1.6 million households.



TotalEnergies and offshore wind in the UK



Over the past two years TotalEnergies has increased its presence in the UK market, the world leader in offshore wind. In 2020 after taking a majority stake in Seagreen, TotalEnergies entered the Erebus (96 MW) and Valorous (300 MW) floating offshore windfarm projects in Wales. In February 2021, TotalEnergies and consortium partner Corio Generation won rights to develop a 1.5 GW offshore wind farm off the coast of Lincolnshire (Outer Dowsing). Finally, in January 2022, TotalEnergies, with Corio Generation and RIDG, secured leasing rights to develop the West of Orkney Windfarm, a 2 GW offshore windfarm in Scotland (Scotwind).



About Seagreen



The 1075 MW Seagreen Offshore Wind Farm project is located 27km off the coast of Angus in the North Sea firth. A GBP3bn joint venture between TotalEnergies (51%) and SSE Renewables (49%), Seagreen will be Scotland's largest and the world's deepest fixed bottom offshore wind farm when complete. Find out more at seagreenwindenergy.com



TotalEnergies and offshore wind



TotalEnergies is already developing a portfolio of offshore wind projects with a total capacity of more than 11 GW, of which 2/3 are bottom-fixed and 1/3 are floating. These projects are located in the United Kingdom (Seagreen project, Outer Dowsing, Erebus, ScotWind), South Korea (Bada project), Taiwan (Yunlin project), France (Eolmed project) and the United States (New York Bight project, North Carolina project). The Company has also been qualified to participate in competitive tenders in the US, UK, France and Poland, and will also participate in tenders in Norway and Netherlands.



TotalEnergies and renewables electricity



As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in renewables and electricity. At the end of June 2022, TotalEnergies' gross renewable electricity generation installed capacity is close to 12 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources and storage by 2025, and then 100 GW 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 more than 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.

[grupo guitarlumber] 22/8/2022 08:44

Technip Energies and Clough to perform FEED for TotalEnergies’ Papua LNG facility

Published by Abi Larkin, Editorial Assistant
LNG Industry, Monday, 22 August 2022 09:07

Technip Energies, leader of a consortium with Clough, has been selected to perform the FEED for TotalEnergies’ Papua LNG project’s upstream production facilities in Papua New Guinea.

The upstream production facilities cover the development of the Elk and Antelope onshore gas fields, including the well pads and the central processing facility.

It also incorporates a carbon capture and sequestration (CCS) scheme to remove the fields’ native CO2 and reinject it into the reservoirs.

Technip Energies and Clough offer a very robust combination to identify and tackle the specific challenges of this project, lay solid foundations for its execution, and foster a sustainable ecosystem around it.

Loic Chapuis, SVP Gas and Low Carbon Energies of Technip Energies, commented: “We are very proud to be entrusted by TotalEnergies for this strategic development which will feed the future Papua LNG trains. Leveraging our expertise designing gas units, integrating technologies, and managing CO2 as well as our experience delivering large scale projects, we are committed to make this project a reference in the industry.”

John Galvin, Executive Vice President APAC of Clough, said: “I am pleased for Clough to be part of another important and exciting project supporting our communities in Papua New Guinea. Our strong history of working in Papua New Guinea combined with our diverse engineering capabilities stand us in good stead for the delivery of the continuing scope of work which we will endeavour to be awarded.”

[la forge] 20/8/2022 08:16

xxnjr
20 Aug '22 - 08:44 - 57894 of 57894
0 0 0
Worth remembering the details of Africa Oil's Kenya Farm Down to Maersk Oil back in 2015.



AOI sold a 25% stake for $344m + S83m + $15m + $75m + $405m = $892m

At the time that valued TLW's stake [50%] at $1.784bn

TLW still have 50% and are trying to offload an undisclosed % to ONGC Videsh and Indian Oil Corporation. Maersk Oil was subsequently bought by Total France which accounts for Total's 25% position today.

[grupo guitarlumber] 18/8/2022 07:25

Conclusion

We really like what we see with TotalEnergies, both from a management and a valuation standpoint. This investment could deliver market crushing returns of 15% per annum. Keep in mind that TTE will have to build out its renewables and LNG businesses, and invest its capital prudently to achieve this result. This company has a strong balance sheet, industry leading operating costs, and some very fast-growing revenue streams. We've analyzed a lot of oil companies here on Seeking Alpha, and TTE is thus far our favorite. If you know of some hidden risks we didn't catch, please drop a comment down below. As for now, we have a "strong buy" rating on the shares.

This article was written by

Jordan Sauer
1.5K Followers

[misca2] 07/8/2022 07:27

Summary

The company has strong fundamentals. More than 70% of companies have a lower mix of growth, profitability, debt and visibility.
The company presents an interesting fundamental situation from a short-term investment perspective.
The company has a good ESG score relative to its sector, according to Refinitiv.


Strengths

The equity is one of the most attractive in the market with regard to earnings multiple-based valuation.
The stock, which is currently worth 2022 to 0.55 times its sales, is clearly overvalued in comparison with peers.
The company appears to be poorly valued given its net asset value.
The company has a low valuation given the cash flows generated by its activity.
The company is one of the best yield companies with high dividend expectations.
Over the past year, analysts have regularly revised upwards their sales forecast for the company.
Over the last 4 months, analysts have significantly revised upwards the company's estimated sales.
For the last twelve months, analysts have been gradually revising upwards their EPS forecast for the upcoming fiscal year.
For the last 4 months, the company has been enjoying highly positive EPS revisions, which were frequently and significantly raised.
Analysts covering this company mostly recommend stock overweighting or purchase.
The difference between current prices and the average target price is rather important and implies a significant appreciation potential for the stock.
The opinion of analysts covering the stock has improved over the past four months.


Weaknesses

As estimated by analysts, this group is among those businesses with the lowest growth prospects.
Financial statements have repeatedly disappointed market stakeholders. Most often, they were below expectations.

[gibbs1] 05/8/2022 18:33

Goldman Sachs analyst Michele della Vigna maintains his buying opinion on the stock. The price target remains unchanged at EUR 74.

[gibbs1] 03/8/2022 10:43

Pro_S2009
3 Aug '22 - 04:21 - 4028 of 4028
0 2 0
As posted on the ECO thread....





-------------


hxxps://oilnow.gy/featured/100m-barrel-jethro-well-could-be-guyanas-first-oil-production-project-outside-stabroek-block/

100M-barrel Jethro well could be Guyana’s first oil production project outside Stabroek Block

By OilNOW
August 2, 2022

The fallout from Russia’s invasion of Ukraine has resulted in a spike in oil prices. Now, the Orinduik Block partners – Eco Atlantic, Tullow Oil, TotalEnergies and Qatar Energy – plan to revisit the commercialisation potential of the Jethro discovery.

Two tertiary discoveries were made at the Orinduik Block in 2019 at the Jethro and Joe wells, both heavy oil finds. Jethro, in particular, had encountered 55 metres of net oil pay. Tullow’s Chief Executive, Paul McDade had told S&P Global Platts that the Joint Venture (JV) is “confident of the commercial value” of the project, even as a standalone development, but a development decision did not come to fruition. The consortium had decided to move on with plans to target lighter crude in the future.

This is not the first time the Orinduik partners decided to revisit the potential commerciality of the Jethro discovery. But now that the price of crude is high, the Jethro well is much more valuable. However, partners will have to contend with the fact that government intends to renegotiate fiscal terms for any find outside of the Stabroek Block that contractors intend to produce.

If the partners do decide to tap this well, it could be the first Guyana development outside of the prolific Stabroek Block. Another contender could have been CGX Energy with the Kawa-1 discovery, but the company dubbed it a “finder well” and is moving on to another prospect at Wei-1.

Orinduik Block operator, Tullow Oil, is also preparing to submit drilling commitments to the Government of Guyana for the Orinduik Block.

“Eco and its JV partners are committed to further drilling on the Orinduik Block and, with its JV partners, are assessing all opportunities available to drill at least two exploration wells into the light oil cretaceous targets as soon as practical,” Eco said. “The company is fully aligned with its JV partners on careful target selection based on the reprocessed 3D and the block and nearby oil discoveries for the next drilling campaign and Eco expects to be able to update the market on further drilling plans in due course,” the company said on Monday.

A recently updated report showed that the best gross prospective resource estimate for the Orinduik Block is 8.1 billion barrels of oil equivalent, with 681 million barrels of oil owed to Eco Atlantic and 544 billion cubic feet of gas.

The Orinduik Block lies 170 kilometers (km) offshore and covers 1,800 square kilometers (km²). Tullow has 60% operating interest while Eco-Atlantic has 15% working interest and the TotalEnergies/Qatar Energy JV has 25%.

[grupo guitarlumber] 31/7/2022 10:13

Upcoming events on TOTALENERGIES SE

09/21/22 Ex-dividend day for interim dividend

09/28/22 | 01:00pm Investor Day - Strategy and Outlook

10/27/22 | 07:00am Q3 2022 Earnings Release

[the grumpy old men] 31/7/2022 07:12

Algeria, Nigeria, and Niger sign MoU for $13bn Trans Saharan gas pipeline

Oil & GasMidstreamPipeline

By NS Energy Staff Writer 29 Jul 2022

The more than 4,000km long onshore gas pipeline is planned to start in Warri in Nigeria, travel through Niger, and end in Hassi R’Mel in Algeria, from where it will connect to existing pipelines that reach Europe
Pipeline sunset.

The Trans Saharan gas pipeline will have a transportation capacity of up to 30bcm per year. (Credit: outgunned21/Freeimages)

Algeria, Nigeria, and Niger have inked a memorandum of understanding (MoU) to build the $13bn Trans Saharan gas pipeline that will traverse the three African countries across the Sahara Desert.

The MoU was signed in Algiers by the Algerian Minister of Energy and Mines Mohamed Arkab, Nigerian Minister of State for Petroleum Resources Timipre Sylva, and Niger Minister of Energy and Renewable Energy Mahamane Sani Mahamadou.

Expected to be more than 4,000km long, the onshore pipeline is designed to transport up to 30 billion cubic metres (bcm) of natural gas per annum to Europe.

The MoU follows an agreement in June 2022 between the three African countries for reviving the gas pipeline project, which had been discussed for nearly four decades.

In 2009, an accord was signed by Nigeria, Niger, and Algeria to build the Trans Saharan gas pipeline project with an aim to commission it in 2015. However, the project could not be implemented so far due to various reasons, which include security concerns.

Last month, the Nigerien oil ministry stated that the three African countries had established a task force for the pipeline project and designated an entity for updating a feasibility study, reported the Al Jazeera Media Network.

The proposed pipeline will source natural gas from Nigeria and traverse north through Niger, and further to Algeria.

It is planned to start in Warri in Nigeria and end in Hassi R’Mel in Algeria. From there, it will connect to existing pipelines that reach Europe.

The project’s revival come at a time when the European Union is grappling with the supply of natural gas and is looking for alternative sources, following the launch of Russia’s military operations in Ukraine.

[huckers] 30/7/2022 13:23

Thanks Waldron. Yes, UK tax resident. I have messaged Hargreaves Lansdown but no response yet.

[waldron] 30/7/2022 13:05

First question Huckers are you UK TAX RESIDENT


Certainly can understand your query as you wish not to get hit my a double whammy


My advice FWIW is discuss with your bank or broker as the rules change very quickly these days


all the best

have a great weekend

ps i am french tax resident and get hit with deductions although if income via la suisse i get doubley hit until i can claim it back,not easy

Thru PEA WHICH IS SIMILAR TO AN ISA one escapes the tax

[huckers] 30/7/2022 12:53

Afternoon. Hoping for some advice. Currently researching TTE but haven’t purchased European shares before. Presumably TTE is listed on the Paris Bourse (as well as a US ADR) and it’s that listing I would purchase? Are there any tax implications to holding them in an ISA/SIPP, such as withholding taxes? Any help much appreciated as finding definite answers is proving harder than I expected!

[grupo] 28/7/2022 14:22

TotalEnergies Profit More Than Doubles On High Oil And Gas Prices
By Tsvetana Paraskova - Jul 28, 2022, 8:30 AM CDT

TotalEnergies (NYSE: TTE) raised interim dividend and expanded share buybacks after reporting on Thursday more than doubled net income for the second quarter, on the back of rallying oil and gas prices, record-high refining margins, and soaring LNG demand in Europe.

The French supermajor booked a net income of $5.7 billion for the second quarter, which was 2.6 times higher than the income for the same period of 2021. Adjusted net income per share surged nearly threefold year over year to $3.75, beating the analyst consensus of $3.69 per-share earnings.

Cash flow from operations more than doubled to $16.3 billion for the second quarter compared to the same quarter last year.

"Russia's invasion of Ukraine continued to impact energy markets in the second quarter, with oil prices averaging more than $110/bbl in the quarter, refining margins reaching record-high levels, and natural gas prices holding above oil parity in Europe and Asia," TotalEnergies' chief executive Patrick Pouyanné said, commenting on the results.

The supermajor's LNG sales rose to more than 25 Mt in the first half of 2022, with 60% in Europe, and TotalEnergies' refineries raised their utilization rate to nearly 90%, Pouyanné added.

"Downstream benefited from exceptionally high refining margins on distillates and gasoline to report adjusted net operating income of $3.2 billion, up sharply over the quarter, and cash flow of $3.5 billion," the executive noted.

In light of the robust Q2 results, TotalEnergies' Board of Directors approved the distribution of the 2022 second interim dividend of €0.69/share, up 5% year-on-year, and authorized the company to continue share buybacks of up to $2 billion in the third quarter.

Another European major, Shell (NYSE: SHEL), also reported exceptionally strong results on Thursday, posting another record quarterly earnings—its second quarter in a row of record profits—and announcing a share buyback program of $6 billion. These share repurchases will add to the $8.5 billion buyback program for the first half of 2022, which Shell completed in early July.

By Tsvetana Paraskova for Oilprice.com

[grupo] 28/7/2022 14:17

TotalEnergies SE on Thursday said that it has started one oil and one gas field developments as well as a photovoltaic project in Angola.

The French major said the Begonia oil field, located 150 kilometers off the coast, is the first development of block 17/06 and represents an investment of $850 million. Commissioning is expected in late 2024.

The company also made a final investment decision for the Quiluma and Maboqueiro gas fields developments, which are set to supply liquefied natural gas to the country. Production is set to start in mid-2026. TotalEnergies holds a 11.8% interest in the project, alongside Eni SpA, Chevron Corp., Sonangol P&P and BP PLC.

In addition, TotalEnergies was also awarded the concession for the construction of the Quilemba photovoltaic plant by the Angolan authorities.

The plant will have an initial capacity of 35 megawatts peak and the possibility of adding 45 MWp in a second phase. It should come on stream at the end of next year.

TotalEnergies holds an 51% interest in Quilemba solar, alongside Sonangol EP and Greentech Angola Environment Technology.



Write to Giulia Petroni at [e-mail]



(END) Dow Jones Newswires

July 28, 2022 09:50 ET (13:50 GMT)