Totalenergies Share Discussion Threads

[mattybuoy] 10/2/2023 10:28

Total is looking to spin-off its Canadian oil sands operations (c.100,000 bpd)in to a separate TSX listed company. This will take place at some point after the May AGM, assuming the vote goes through.

It looks like the spin off company will be priced at a discount. Hopefully they may divi some it out to existing shareholders.

[la forge] 09/2/2023 11:22

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Oil giants’ record windfall fuels debate on profit-sharing

TotalEnergies will pay out $17 billion to its shareholders thanks to its 2022 results.

By Adrien Pécout
Published on February 9, 2023 at 05h00


TotalEnergies announced a rebate for French customers before announcing their record-breaking profits, in the hope that this would appease the public. On January 23, the TotalEnergies group (formerly Total) promised a €100 per megawatt-hour discount on electricity bills to very small businesses for the second half of the year. It had already offered various discounts at the pump on fuels during 2022, at a cost estimated by the energy company of "about €600 million." The group can more than afford to be generous, judging by its net profits for 2022, the best in its history: $20.5 billion, or €19.1 billion.

As was the case in 2021, these figures will fuel the enduringly lively debate in France on profit sharing. Coincidentally, MPs expressed their wish to examine a bill on Thursday, February 9, during a Socialist parliamentary window, to create "a windfall tax on the exceptional profits of large companies."

This is because TotalEnergies owes a large part of its record profits in 2022 to circumstances beyond its control, with the war in Ukraine increasing supply tensions. The group will be paying out $17 billion to its shareholders for the 2022 results, almost as much as its net profit. This payout is split between $10 billion in dividends and $7 billion in share buybacks.

[gibbs1] 09/2/2023 09:14

Already positive, the research from JP Morgan and its analyst Christyan Malek still consider the stock as a Buy opportunity. The target price is still set at EUR 73.

[ariane] 08/2/2023 11:06

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE):



The Board of Directors met on February 7, 2023 and decided that, subject to decisions by the Board of Directors and the Shareholders' Meeting which will approve the 2024 financial statements, allocation of earnings and final dividend, the ex-dividend dates of the interim and the final dividends for 2024 will be as follows:


Type of coupon Ex-dividend dates
First interim September 25, 2024
Second interim January 2, 2025
Third interim March 26, 2025
Final June 19, 2025


The above ex-dividend dates relate to the TotalEnergies shares listed on the Euronext.



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.

[ariane] 08/2/2023 11:03

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hxxps://www.lemonde.fr/en/energies/article/2023/02/08/totalenergies-posts-20-5-billion-net-profit-for-2022-highest-in-company-s-history_6014849_98.html

TotalEnergies posts $20.5 billion net profit for 2022, highest in company's history

The oil and gas giant would have recorded much higher profits if it weren't for the charges linked to leaving the Russian market.

Le Monde with AFP


Published on February 8, 2023 at 09h08

Time to 1 min.


France's TotalEnergies said Wednesday that high oil and gas prices bolstered its net profit to a record $20.5 billion (€19.1 billion) in 2022 and announced higher dividend payments for shareholders.

The 28% gain would have been much higher save for the nearly $15 billion in charges linked to its leaving the Russian market, with adjusted profits excluding such exceptional items rising to $36.2 billion.

Nevertheless, the surge in oil and natural gas prices following Russia's invasion of Ukraine and Western sanctions was a major boost for TotalEnergies, as it was for its rivals.

The massive profits have sparked renewed debate about taxing windfall earnings to help fund measures to protect consumers from rampant inflation, including soaring energy prices.

TotalEnergies' strong presence in the liquefied natural gas market also helped as European nations sought supplies from further afield after Russia cut supplies by pipeline.
Read more French TotalEnergies severs ties with its Russian partner, the gas company Novatek

"The company took full advantage of its global LNG portfolio," chief executive Patrick Pouyanné said in a statement.

TotalEnergies reported a 22% jump in LNG sales in the final three months of last year compared to the same period in 2021. That helped drive an 11% gain in overall adjusted profits for the quarter to $7.6 billion, though Russia-related charges reduced that to $3.3 billion on a net basis.
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The company increased final dividend payments for 2022, and said it could boost returns to shareholders even further this year.



Read more Article réservé à nos abonnés Climate change: 'TotalEnergies is not the investor that many financial players would have us believe'

Le Monde with AFP

[adrian j boris] 08/2/2023 08:29

TotalEnergies SE boosted shareholders returns for the current year after overall performance in 2022 benefited from strong hydrocarbon production and gas sales despite Russia impairments.

The French major said Wednesday that it targets an increase in interim dividends of more than 7% to 0.74 European cents ($0.79) a share and buybacks of $2 billion in the first quarter, confirming that it aims for a payout of between 35%-40% for shareholders in 2023.

For 2022, the company said it will propose a final dividend of EUR0.74 a share, bringing the total ordinary 2022 dividend to EUR2.81 a share, an increase of around 6.5% compared with 2021.

In the fourth quarter, TotalEnergies reported a net profit of $3.26 billion compared with $5.84 billion for the same period last year, after taking a $4.1 billion hit due to the deconsolidation of its stake in Russian gas producer Novatek. On an adjusted basis, profit came in at $7.56 billion.

Hydrocarbon production was 2.81 million barrels of oil equivalent a day in the quarter and is expected to rise by around 2% to 2.5 million boe/d in the current year, driven by project startups in Oman, Brazil and Azerbaijan, the company said.

Quarterly sales increased to $68.58 billion from $60.35 billion for the year-earlier period.

For the current year, TotalEnergies said it targets net investments of between $16 billion and $18 billion, including $5 billion allocated toward low-carbon energies.



Write to Giulia Petroni at [e-mail]



(END) Dow Jones Newswires

February 08, 2023 03:08 ET (08:08 GMT)

[adrian j boris] 08/2/2023 07:52

France's TotalEnergies said Wednesday that high oil and gas prices bolstered its net profit to a record $20.5 billion in 2022.

The 28 percent gain would have been much higher save for the nearly $15 billion in charges linked to its leaving the Russian market, with adjusted profits excluding such exceptional items rising to $36.2 billion.

(AFP)

[waldron] 04/2/2023 13:57

French Bourse Close Higher Friday as Private Sector Activity Remains Stable
02/03/2023 | 05:59pm GMT


(MT Newswires) -- Recovering from losses in the morning, French shares ended the week firmly in the green, supported by blockbuster earnings reports and improved economic data.

At close of Friday trading, the CAC 40 was up 0.94%, joining most of its peers in Europe in a positive close to a major week.

The final S&P France PMI Composite Output Index was unchanged at 49.1 in January 2023 but above the flash estimate of 49 and with the contraction rate "only marginal overall," while the services PMI fell deeper than estimates. Meanwhile, national statistics bureau Insee said industrial production rose in the last month of 2022.

Sanofi (SAN.PA) registered the biggest slump in the index at 1.88% after its full-year 2022 results grew but fell short of analysts estimates. Looking ahead, the pharmaceutical giant is expecting 2023 EPS to grow by a low single digit.

On the other hand, TotalEnergies (TTE.PA) added 2.12% at close of trading. Aside from closing a $300 million deal to sell a 50% stake in a renewable projects to Crédit Agricole's (ACA.PA) Crédit Agricole Assurances, the oil giant also disclosed that it has a $3.1 billion "limited" exposure to Adani Group, which has recently battled claims of stock manipulation and accounting fraud.

[florenceorbis] 03/2/2023 08:58

Credit Agricole Buys 50% of Renewable Portfolio From TotalEnergies
02/03/2023 | 08:18am GMT


By Ed Frankl

Credit Agricole SA said Friday that its Bancassurance arm bought 50% of a portfolio of renewable projects from TotalEnergies SE with a capacity of 234 megawatts.

The deal values the entire portfolio, comprising 23 solar-power plants and six wind-power plants, at $300 million, Credit Agricole said.

The portfolio will provide enough energy for 200,000 people and prevent the emission of 96,000 metric tons of carbon dioxide a year for 30 years, the bank said.

Write to Ed Frankl at [e-mail]

(END) Dow Jones Newswires

02-03-23 0317ET

[waldron] 02/2/2023 10:20

PARIS (Agefi-Dow Jones)--Industrial gases specialist Air Liquide and energy producer TotalEnergies announced on Thursday their decision to create a 50-50 joint venture to develop a network of hydrogen stations in France, Benelux and Germany.


"The partners aim to deploy more than 100 hydrogen stations on major European roads [...] in the coming years," the two groups said in a joint statement.


This network of stations, which will be branded TotalEnergies, will be intended for heavy goods vehicles on major European roads, Air Liquide and TotalEnergies said.


Financial details of the agreement were not disclosed.


"The two partners expect to proceed with the formation of their joint venture during 2023, subject to the finalisation of the appropriate contractual documentation and obtaining the necessary regulatory approvals," they added.


-Alice Doré, Agefi-Dow Jones; [phone]; [e-mail] ed: VLV


Agefi-Dow Jones The financial newswire


(END) Dow Jones Newswires


February 02, 2023 02:54 ET (07:54 GMT)

Translated with www.DeepL.com/Translator (free version)

[waldron] 29/1/2023 10:41

Total CEO sees tight gas market, pricey diesel in Europe in 2023

Pouyanne said that European countries should diversify energy suppliers


Published: January 28, 2023 15:26 Bloomberg

“Europe will get less Russian gas than in 2022 and will have to again massively re-import LNG,” Pouyanne told Belgian newspaper L’Echo. “The situation will become more tense again.”

London: Europe’s natural gas market will tighten again in 2023 as stockpiles will have to be replenished over the summer without the usual Russian supply, according to TotalEnergies SE CEO Patrick Pouyanne.

“Europe will get less Russian gas than in 2022 and will have to again massively re-import LNG,” Pouyanne told Belgian newspaper L’Echo. “The situation will become more tense again.”

The region has managed to keep gas stockpiles fuller-than-normal so far this winter as unusually mild weather reduced demand while imports of liquefied natural gas remained strong. Inventories will end the winter about 50 per cent full, and enough gas has been procured to fill storage sites again well in time for next winter, according to BloombergNEF. The optimism has pushed gas prices down about 30 per cent in the past month.

Still, the deep cuts in Russian supply remain a concern. It increases Europe’s competition with Asia for LNG, and higher demand there could make it more difficult to procure the crucial cargoes needed to refill inventories.

Pouyanne said that European countries should diversify energy suppliers, mostly through long-term contracts.

He also said there isn’t a risk of diesel shortages in the region. Total will run all its refineries, including in Saudi Arabia, to prioritize supply to Europe. But he warned that this will bring extra transportation costs. “It’s always the same story, there is the supply but there is also the price.”

A European Union ban on imports of Russian oil products, including diesel, comes into force February 5. Some analysts have warned this could create shortages in the continent. Russia accounts for 15 per cent of global diesel flows, with 80 per cent of that going to Europe until recently, according to Goldman Sachs.

[waldron] 27/1/2023 16:08

Adani Total Gas

Adani Total Gas is a city gas distribution company serving both industrial and residential customers in India through piped natural gas connections and compressed natural gas stations. It is a joint venture between Adani Group and the French oil and gas company TotalEnergies.[62] Adani Total Gas has presence in 22 geographical areas (GAs) as a standalone entity as of November 2020. In addition, Indian Oil-Adani Gas Pvt. Ltd., a 50:50 joint venture between Adani Total Gas and Indian Oil Corporation, operates city gas distribution networks in 19 GAs.[63] With a combined presence of 41 GAs in 74 districts, Adani Total Gas is the largest city gas operator in India.[64] Recently, The Adani Group announced strategic collaboration with Snam, Europe's leading gas infrastructure company on energy mix transition.[65]

[gibbs1] 27/1/2023 08:10

TotalEnergies under preliminary investigation for 'greenwashing'


Environmentalist groups accused French oil major of deteriorating air quality, prosecutors office confirms

08:45 . 27/01/2023 Friday



French oil major TotalEnergies is accused of greenwashing and is under preliminary investigation over alleged deceptive marketing campaigns, local media reported on Thursday.

The investigation opened in December 2021 on a complaint filed by several environmentalist groups in October 2020, according to French daily Le Figaro.

The Nanterre public prosecution office in France confirmed that the associations accused the oil giant of deteriorating the air quality.

TotalEnergies on Twitter denied the accusations, and affirmed its "concrete strategy” to achieve carbon neutrality by 2050, citing investments, new businesses and a "significant drop in greenhouse gas emissions.”

[sarkasm] 23/1/2023 08:00

Saipem wins $900m worth contracts from Total Energies and Equinor



By NS Energy Staff Writer 23 Jan 2023

The first contract from Total Energies pertains to the LAPA SW development project in in the Santos Basin in Brazil, while the second contract from Equinor is for the Irpa pipeline project in the deep waters of the Norwegian Sea


Saipem will use its Castorone vessel for the Irpa pipeline project. (Credit: SAIPEM SpA)

Italian oilfield services company Saipem has bagged two offshore contracts with a combined worth of around $900m from Total Energies and Equinor.

The first contract from Total Energies pertains to the LAPA Southwest (LAPA SW) development project in Brazil, which will be executed by Saipem in partnership with Aker Solutions do Brasil.

LAPA SW is a deepwater oil field in the Santos Basin. The field is located 270km off the coast of São Paulo.

According to Saipem, the scope of work covers the engineering, procurement, construction, and installation (EPCI) of subsea umbilicals, risers, flowlines (SURF) and a subsea production system (SPS).

The LAPA SW development project is the first integrated SURF and SPS project to have been awarded by TotalEnergies, said the Italian contractor.

In order to execute the project, Saipem plans to maximise the local content by utilising its Guarujá Centro de Tecnologia e Construção Offshore (CTCO) yard for logistics activities and Quad Joints Fabrication and some other manufacturing works.

Recently, TotalEnergies took the final investment decision on the $1bn Lapa SW project in which it is partnered by Shell and Repsol Sinopec.

The project will be developed by drilling three wells, which will be connected to the existing Lapa floating production storage and offloading (FPSO) vessel located 12km away at the North-East part of the producing Lapa field.

The second contract won by Saipem is for the Irpa pipeline project in the deep waters of the Norwegian Sea.

The project involves the laying of an 80km long swagged pipe-in-pipe pipeline to link the subsea production template of the Irpa gas field to the existing Aasta Hansteen platform.

The pipeline design will have a combination of insulation and vacuum between the inner and outer pipes along with the injection of monoethyleneglycol (MEG). This approach is expected to help reduce the formation of hydrates in the multi-phase well stream.

Saipem said that the offshore operations are intended to be carried out in 2025 and will be undertaken by its flagship pipelaying vessel Castorone.

[florenceorbis] 20/1/2023 12:38

TotalEnergies SE said gas production at the Mabrouk North-East field in Oman has started and that it has signed a long-term agreement with Oman LNG LLC to purchase liquefied natural gas.

The French oil-and-gas major on Friday said gas production in onshore Block 10 at the field is expected to reach 500 million standard cubic feet a day by mid 2024. The produced gas is set to supply both local industry and LNG export facilities in Oman.

Shell PLC is the operator of the block with a 53.45% holding. TotalEnergies holds a 26.55% interest in the block, while Oman's state energy company OQ has the remaining 20% interest.

TotalEnergies also said it signed a deal with Oman LNG to buy 800,000 metric tons of LNG a year over a period of 10 years starting from 2025. The aim is to reinforce its portfolio to address both the European and Asian markets, it said.



Write to Giulia Petroni at [e-mail]



(END) Dow Jones Newswires

January 20, 2023 06:02 ET (11:02 GMT)

[grupo guitarlumber] 18/1/2023 11:56

TotalEnergies reaches FID on Lapa South-West project in Brazil


By NS Energy Staff Writer  17 Jan 2023

TotalEnergies intends to develop the Lapa South-West project through three wells, connected to the existing Lapa FPSO, with production expected to commence in 2025
maria-lupan-hy97yy3e03A-unsplash (3)

TotalEnergies approves Lapa South-West project. (Credit: Maria Lupan on Unsplash)

French petroleum company TotalEnergies has reached final investment decision (FID) on the Lapa South-West oil project in the Santos Basin offshore Brazil.

The Lapa South-West oil field, situated around 300km off the Brazilian coast, is operated by TotalEnergies with a 45% stake. Shell (30%) and Repsol Sinopec (25%) are the other stakeholders.

The development of the project will include three wells connected to the existing Lapa FPSO, which is located 12km away.

The company said that the development at Lapa South-West represents around $1bn investment, and the field is planned to start production in 2025.

TotalEnergies Americas exploration and production senior vice-president David Mendelson said: “This latest development is an important milestone for TotalEnergies in Brazil that will increase its operated production in the pre-salt Santos Basin, a key growth area for the company.

“With its efficient engineering approach and synergies with existing facilities, this project illustrates TotalEnergies’ strategy of focusing on low cost, low emissions assets.”

The Lapa field in the BM-S-9 block was discovered in 2007. It started full commercial production in late 2016.

The FPSO, dubbed Cidade de Caraguatatuba MV27, has been operating in the field since 2016, and is currently active at the North-East part of the field.

Lapa South-West is expected to increase the Lapa field’s production by 25,000 barrels of oil per day taking the overall production to 60,000 barrels of oil per day.

In a separate development, Aker Solutions announced that TotalEnergies has awarded a contract worth NOK500m to 1.5bn ($50.4m to $151.2m) for work on the Lapa field.

Under the contract, Aker will deliver a subsea production system and related equipment as well as conduct its installation and other works. Some of the works will be carried out in partnership with Saipem Brazil.

The company is expected to commence work immediately, with deliveries scheduled from the first quarter of 2024 until the fourth quarter of 2024.

TotalEnergies has been operating in Brazil for more than 40 years, and employs more than 3,000 people across its business segments.

[misca2] 15/1/2023 10:29

Consensus

Mean consensus BUY


Number of Analysts 23


Last Close Price 64,62 $

Average target price 69,91 $
Spread / Average Target 8,18%

High Price Target 92,06 $
Spread / Highest target 42,5%

Low Price Target 50,30 $
Spread / Lowest Target -22,2%

[grupo guitarlumber] 01/1/2023 11:14

TotalEnergies: An Energy Major Worth Considering


Jan. 01, 2023 6:00 AM ET


Summary

TotalEnergies SE has generally performed well in recent years, and 2022 is slated to be a fantastic year for the business.

Investors need to be wary of volatility, but the firm's impressive track record and diverse operations provide some safety long-term.

Add in how shares are priced, and the company definitely warrants some consideration.

Looking for a helping hand in the market? Members of Crude Value Insights get exclusive ideas and guidance to navigate any climate.

[sarkasm] 15/12/2022 13:17

Aramco, TotalEnergies to build $11bn Saudi petchem complex

DHAHRAN, 0 hours, 28 minutes ago

Saudi oil giant Aramco and TotalEnergies have taken the final investment decision for the construction of a world scale petrochemical facility in Saudi Arabia. 
 
The ‘Amiral’ complex will be owned, operated, and integrated with the existing Satorp refinery located in Jubail on Saudi Arabia’s eastern coast. The investment decision is subject to customary closing conditions and approvals.  
 
The petrochemical facility will enable Satorp to convert internally produced refinery off-gases and naphtha, as well as ethane and natural gasoline supplied by Aramco, into higher value chemicals, helping to advance Aramco’s liquids to chemicals strategy.
 
Aramco said the complex will comprise a mixed feed cracker capable of producing 1.65 million tonnes per annum of ethylene, the first in the region to be integrated with a refinery. 
 
It will also include two state-of-the-art polyethylene units using Advanced Dual Loop technology, a butadiene extraction unit, and other associated derivatives units.
 
The project alone represents an investment of around $11 billion, of which $4 billion will be funded through equity by Aramco (62.5%) and TotalEnergies (37.5%). 
 
Its construction is scheduled to begin during the first quarter of 2023 with commercial operation targeted to start in 2027.
 
Aramco President & CEO Amin H. Nasser said: "Our long-standing relationship with TotalEnergies has been further strengthened by this important project, which represents an opportunity for us to showcase the potential for cutting edge liquids to chemicals technologies that support the circular economy."
 
"With this collaboration we aim to expand the value chain by producing advanced chemicals more efficiently than ever before, accelerating industrial progress in the Kingdom," he stated.
 
TotalEnergies Chairman and CEO Patrick Pouyanné said: "We are delighted to write a new page of our joint history by launching this expansion project, building on the successful development of SATORP, our biggest and most efficient refining and petrochemicals platform in the world. It also deepens the exemplary relationship between our two companies over many decades in the Kingdom of Saudi Arabia."
 
"This world-class complex also fits with our strategy to expand sustainably in petrochemicals by maximizing the synergies within our major platforms," he added.
 
Eventually, the complex will provide feedstock to other petrochemical and specialty chemical plants, located in the Jubail industrial area, which will be built, owned and operated by globally renowned downstream investors, entailing an estimated additional $4 billion of investments.  
 
This will support the establishment of key manufacturing industries such as carbon fibers, lubes, drilling fluids, detergents, food additives, automotive parts and tyres, said the global oil major.
 
The overall complex, including adjacent facilities, is expected to create 7,000 local direct and indirect jobs, it stated.
 
In July, Satorp was the first Mena refinery to be certified ISCC+, an international recognition towards its circular initiatives, such as the recycling of plastic and used cooking oil. A first batch of recycled plastic was processed by the refinery last month, it added.-TradeArabia News Service

[waldron] 14/12/2022 15:58

TotalEnergies: The Underrated Champion For The Energy Transition

Dec. 14, 2022 10:03 AM ETTotalEnergies SE (TTE)


Summary

TotalEnergies is currently trading at discount, compared to its EU and US peers, despite being well ahead in delivering on ambitious strategic targets related to energy transition.

The prudent balance sheet steering and capital allocation will, in our view, shield the company’s earnings from recession risks while high operating cash flow will continue to support shareholders' returns.

The lack of structural investments in global exploration and development since 2015 will continue to support oil and gas prices as a result of supply imbalances.


We do see a clear gap between the price and the value of TotalEnergies from several perspectives that we are going to analyse in this article.

[waldron] 09/12/2022 15:06

France's TotalEnergies pulls out of Russian gas producer

By Associated Press

Published: 14:28 GMT, 9 December 2022 | Updated: 14:29 GMT, 9 December 2022


PARIS (AP) - French energy giant TotalEnergies said Friday that it will walk away from its stake in Russian natural gas producer Novatek and take a $3.7 billion loss.

TotalEnergies, which has come under criticism for pursuing some of its projects in Russia amid the war in Ukraine, said Western sanctions prevent it from selling its 19.4% stake to the Russian company. It said it withdrawing its representatives from the Novatek board, who have been abstaining from voting because of sanctions, with "immediate effect."

As a result, TotalEnergies will no longer account for its ownership interest in Novatek, which will lead it "to record an impairment of approximately $3.7 billion in the accounts for the 4th quarter of 2022," the French company said in a statement.


In line with its "principles of conduct" published on March 22, TotalEnergies "has gradually started to withdraw from its Russian assets while ensuring that it continues to supply gas to Europe."

It comes amid an energy crisis in Europe provoked by Russia's war in Ukraine that pushed up natural gas prices and has led governments to warn people to conserve this winter. While prices have fallen from summertime peaks and Europe has largely filled its storage for the heating season, a colder-than expected winter, a complete gas cutoff by Russia and other factors could lead to a supply crunch.

Environmental NGO Greenpeace France said the announcement comes "very late" and denounced TotalEnergies' continuing operations in Russia.



The French company has stakes in some other Russian projects meant to produce liquefied natural gas, including a 20% stake in Yamal LNG and a 10% stake in Artic LNG.

The decision "is not enough to make from TotalEnergies a responsible company as it keeps a foot in Russia and will continue to feed the climate crisis," said Edina Ifticene, who's in charge of campaigning on fossil energy at Greenpeace France.

In October, TotalEnergies reported third-quarter net income rose to $6.6 billion despite losses from pulling out of a venture in Russia. The company posted adjusted net earnings of $9.9 billion but notably took a charge of $3.1 billion after it sold a 49% interest in a Siberian natural gas field to Novatek.

Other companies that have moved to pull out of Russia have taken big losses, ranging from Shell's $3.9 billion charge to McDonald's expected loss of between $1.2 billion and $1.4 billion.