Totalenergies Share Discussion Threads

[waldron] 30/9/2021 21:26

[France] TOTALENERGIES SE (TTE)



Real-time Quote. Real-time Euronext Paris - 09/30 11:38:19 am

41.335 EUR +0.73%

[waldron] 29/9/2021 16:28

U.S. Crude-Oil and Fuel Inventories Unexpectedly Rise

29 September 2021 - 05:20PM

Dow Jones News



By Dan Molinski

U.S. oil inventories surprisingly increased last week, while stockpiles of gasoline and other fuels also rose, according to data released Wednesday by the Energy Information Administration.

Benchmark U.S. oil prices that were slightly lower before the mostly bearish report drifted slightly higher afterward. The Nymex front-month crude contract for November delivery was recently up 0.4% at $75.63 a barrel.

Crude-oil stockpiles rose by 4.6 million barrels to 418.5 million barrels, and are now about 7% below the five-year average, the EIA said. Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would fall by 2.5 million barrels from the prior week.

Oil stored at Cushing, the delivery point for U.S. stocks, rose by 131,000 barrels from the previous week, to 34 million barrels, the EIA said in its weekly report.

U.S. crude-oil production rose by 500,000 barrels a day last week to 11.1 million barrels a day, according to EIA, as offshore output continued to recover from Hurricane Ida-caused shutdowns.

Gasoline stockpiles climbed by 193,000 barrels to 221.8 million barrels, compared with analysts' expectations for inventories to increase by 900,000 barrels from the previous week.

Distillate stocks, which include heating oil and diesel fuel, rose by 384,000 barrels to 129.7 million barrels, and are now about 12% below the five-year average, the EIA said. Analysts were forecasting a 1.3-million-barrel decline from the previous week.

The refining capacity utilization rate rose by 0.6 percentage points from the previous week to 88.1%, which was close to analysts' forecasts for a 0.8 percentage-point increase from the previous week.

U.S. oil inventories for the week ended Sept. 24:


Crude Gasoline Distillates Refinery Use
EIA data: +4.6 +0.2 +0.4 +0.6
Forecast: -2.5 +0.9 -1.3 +0.8


Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.

Write to Dan Molinski at [e-mail]



(END) Dow Jones Newswires

September 29, 2021 11:05 ET (15:05 GMT)

[waldron] 29/9/2021 12:56

James Hubbard from Deutsche Bank retains his positive opinion on the stock with a Buy rating. The target price is still set at EUR 48.30.

[waldron] 29/9/2021 12:54

In his latest research note, analyst Christyan Malek confirms his recommendation. The broker JP Morgan is keeping its Neutral rating. The target price remains set at EUR 49.

[waldron] 29/9/2021 12:24

Initially Neutral on the company, UBS's analyst Jon Rigby maintained his recommendation. The target price is still set at EUR 42.

[waldron] 28/9/2021 18:55

Agriculture | Electric Power | Energy Transition | LNG | Natural Gas | Oil | Petrochemicals 28 Sep 2021 | 13:54 UTC

TotalEnergies trims spending plans but sticks with key energy transition targets

Highlights

Cuts $1 billion/year from upper capex plan

Confirms targets for renewables, new energies

LNG to drive upstream growth to 2026

Author
Robert Perkins

Editor
Pritish Raj

Commodity

Agriculture, Electric Power, Energy Transition, LNG, Natural Gas, Oil, Petrochemicals

TotalEnergies trimmed the upper end of its near-term capital spending plans on Sept. 28 but said it remains on track to grow its LNG and renewables business to become a major low-carbon energy company.
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In a corporate strategy update, TotalEnergies set a capital spending target of $13 billion-$15 billion a year in the 2022-25 period, down from a previous target range of $13 billion-$16 billion given a year ago. At the same time, it committed to spending $3 billion/year, or nearly 25% of its investments on power and renewables, from a previous range of $2-$3 billion/year.

The Paris-based company said it plans to allocate about a quarter of its planned capex spending on growing its "new energies" portfolio, mainly in renewables and electricity, with the other 50% to expand natural gas, essentially LNG. The remaining half of the capex budget will go to maintain its base activities including upstream oil production.

TotalEnergies said it will boost its combined energy production by 30% from now to 2030, with growth coming half from electricity, essentially from renewables, and half from LNG. It also reiterated a previous target to evolve to 30% oil, 50% gas, 15% electricity and 5% biomass and hydrogen in its sales mix by 2030. Over the decade, petroleum product sales will fall by at least 30% compared to 2015 levels.

"TotalEnergies affirms its strategy as a multi-energy company active in oil, natural gas, renewables & electricity, biomass and hydrogen, benefitting all its stakeholders," the company said in a statement. "TotalEnergies is confident in its ability to combine energy transition and shareholder return, thus creating long-term shareholder value."

CEO Patrick Pouyanne said the lower total capex range reflects a more conservative oil price assumption of $50/b over the period and includes some lower spending on the hydrocarbon business such as downstream fuel networks.

Oil slowdown

In the upstream division, TotalEnergies said it expects oil and gas production to grow by about 3% per year by 2026, driven by LNG-focused natural gas which should grow by 6% per year. Presentation slides accompanying the targets suggest TotalEnergies sees its oil production slight higher by 2026 compared to 2021, but level or lower than its liquids production in 2019.

Europe's No. 3 energy major has outpaced bigger rivals BP and Shell in recent years with a slew of new projects, boosting its oil and gas output by 40% over 2014-2019 to more than 3 million boe/d. But last year, output slipped 5% on OPEC+ output cuts, and this year Total said it expects its production to be flat compared with 2020, when it pumped an average of 2.87 million boe/d.

In February, TotalEnergies -- which expects global oil demand to peak before 2030 under its central long-term scenario -- said it was targeting growing its oil and gas production to reach 3.3 million-3.4 million boe/d in 2025, despite an acceleration in spending on renewable and low-carbon energy.

Pouyanne said the company will continue to explore for more oil but will be more "selective" in its oil projects. In picking new oil and gas projects, he said the company will target combined capex and operating costs of less than $20/boe or post-tax breakevens of $30/boe.

"My team doesn't have a mandate to stop looking for oil, it has a mandate to look for low-cost, low-carbon oil," Pouyanne said.

LNG growth

The company said it expects the global LNG market growing on average 5%-7% per year, with its own LNG production increase by 30% by 2025 and sales of 50 million mt/year, equivalent to 10% of the world market, at that time.

TotalEnergies, which wants to become one of the world's top five renewable power producers, also confirmed an objective of producing 35 GW by 2025, with more than 10 GW in operation by end-2021 that will grow by around 6 GW per year from 2022 to 2025. By 2030, the company is targeting 100 GW gross installed capacity.

The company also wants to scale up biogas, targeting 2 TWh/year production by 2025.

Downstream, TotalEnergires said it plans to continue adapting and downsizing its refining assets to match an expected 30% fall in European fuel demand by 2030. Europe's biggest refiner, TotalEnergies has shut 700,000 b/d of refining capacity since 2010. Its downstream growth spending is focused on polymers, including recycling and bioplastics, and in new markets, such as biofuels or electric mobility, to generate cash flow growth of around $1 billion over the next five years.

Pouyanne said the company's capital discipline will be maintained with an objective to deliver more than $1 billion of additional cost savings by 2023 compared to 2020. The higher revenues and discipline is expected to improve return on equity above 12% in a $50/b environment by 2025.

S and P Global PLATTS

[waldron] 28/9/2021 16:01

Jamie Ashcroft

13:53 Tue 28 Sep 2021




BP and Shell shares rise amid US$80 oil and UK energy crisis

The UK and Europe are seeing a fuel squeeze meanwhile hurricanes and OPEC have impacted global prices.

BP and Shell shares in favour as oil prices rise above US$80

BP PLC (LSE:BP.) and Royal Dutch Shell PLC (LSE:RDSB) shares were in favour on Tuesday as crude oil prices raced above US$80.

Domestically, petrol is again among the themes of the day as people continue queuing at forecourts, and the exhortation not to panic buy seemingly falls on deaf ears.

Worldwide, meanwhile, there are bigger picture economic factors at play – far beyond the post-Brexit availability of transport workers to deliver tankers from point a to point.

Brent crude is pitched at a three-year high in the wake of Hurricane Ida, which damage key infrastructure in the Gulf of Mexico, and, the impacts of petro-politics at OPEC, plus the broader industry is somewhat hamstrung by the lower investments in recent years amidst low crude prices.

City analysts at Barclays in a note point to the positives for companies like BP and Shell, which despite efforts and narratives towards renewable energies still generate huge revenues and profits from the sale of oil, gas and other petro-products.

“The strengthening fundamentals that we have seen throughout 2021 are finally starting to be reflected in share price performance, and with 2022 already setting up to continue decade high FCF, we expect further outperformance,̶1; Barclays said.

“Unusually we rate BP, Shell and Total Energies all ‘Overweight217; reflecting value across the sector.”

Shell shares rose around 3% in London to trade at £16.43 whilst BP added 2.9% to 340.90p.

In crude markets, Brent continued to climb as it was changing hands at around US$80.10 per barrel up 0.7% for the day.

Similarly, the American benchmark West Texas Intermediate was 0.85% higher at around $76.09.

Naeem Aslam, chief market analyst at AvaTrade, said: "Fears of an energy crisis in Europe are supporting oil prices.

"The surge in gas prices has made oil a relatively cheaper substitute for power generation and hence its appeal has increased."

It is not just Europe that is seeing energy problems: China is suffering power cuts after a fall in coal imports and actions taken to cut emissions.

The jump in oil prices has helped lift

Proactiveinvestors

[waldron] 28/9/2021 16:00

Jamie Ashcroft

13:53 Tue 28 Sep 2021




BP and Shell shares rise amid US$80 oil and UK energy crisis

The UK and Europe are seeing a fuel squeeze meanwhile hurricanes and OPEC have impacted global prices.

BP and Shell shares in favour as oil prices rise above US$80

BP PLC (LSE:BP.) and Royal Dutch Shell PLC (LSE:RDSB) shares were in favour on Tuesday as crude oil prices raced above US$80.

Domestically, petrol is again among the themes of the day as people continue queuing at forecourts, and the exhortation not to panic buy seemingly falls on deaf ears.

Worldwide, meanwhile, there are bigger picture economic factors at play – far beyond the post-Brexit availability of transport workers to deliver tankers from point a to point.

Brent crude is pitched at a three-year high in the wake of Hurricane Ida, which damage key infrastructure in the Gulf of Mexico, and, the impacts of petro-politics at OPEC, plus the broader industry is somewhat hamstrung by the lower investments in recent years amidst low crude prices.

City analysts at Barclays in a note point to the positives for companies like BP and Shell, which despite efforts and narratives towards renewable energies still generate huge revenues and profits from the sale of oil, gas and other petro-products.

“The strengthening fundamentals that we have seen throughout 2021 are finally starting to be reflected in share price performance, and with 2022 already setting up to continue decade high FCF, we expect further outperformance,̶1; Barclays said.

“Unusually we rate BP, Shell and Total Energies all ‘Overweight217; reflecting value across the sector.”

Shell shares rose around 3% in London to trade at £16.43 whilst BP added 2.9% to 340.90p.

In crude markets, Brent continued to climb as it was changing hands at around US$80.10 per barrel up 0.7% for the day.

Similarly, the American benchmark West Texas Intermediate was 0.85% higher at around $76.09.

Naeem Aslam, chief market analyst at AvaTrade, said: "Fears of an energy crisis in Europe are supporting oil prices.

"The surge in gas prices has made oil a relatively cheaper substitute for power generation and hence its appeal has increased."

It is not just Europe that is seeing energy problems: China is suffering power cuts after a fall in coal imports and actions taken to cut emissions.

The jump in oil prices has helped lift

Proactiveinvestors

[waldron] 28/9/2021 14:48

TotalEnergies SE said Tuesday that it will increase its energy production by 30% by the end of the decade, and that it plans to buy back $1.5 billion of its shares in the fourth quarter.

The French oil-and-gas major said that its targeted 30% increase in energy production through 2030 will come from electricity and liquefied natural gas in equal parts. Renewable energy will be a key part of the ramp-up in electricity production, it added.

"Sales mix will evolve to 30% oil, 50% gas, 15% electricity and 5% biomass and hydrogen by 2030," TotalEnergies said. "Petroleum product sales will decrease by at least 30% over the period 2020-30."

The company also said that it expects cash flow and dividends to grow in the coming years. "In addition, in accordance with the announced policy of allocating up to 40% of the surplus cash generated above $60/barrel to buyback and considering the actual high prices of oil and gas, TotalEnergies plans to buy back $1.5 billion of its shares in fourth quarter 2021," it said.

To support its ambitions, it said that it will invest $13 billion-$15 billion a year until 2025. Half of the amount will be used to grow its activities, especially renewable energy, electricity and liquefied natural gas, it said.

TotalEnergies backed its previous ambition of reaching net zero by 2050.

The company presented its strategy and outlook during its investor days on Sept. 27 and 28.



Write to Olivia Bugault at [e-mail]



(END) Dow Jones Newswires

September 28, 2021 09:15 ET (13:15 GMT)

[sarkasm] 27/9/2021 20:03

Total Sees Oil Demand Peaking Before 2030

by Bloomberg
|
Francois de Beaupuy
|
Monday, September 27, 2021

Total Sees Oil Demand Peaking Before 2030


(Bloomberg) -- French energy giant TotalEnergies SE expects global oil demand to peak before the end of this decade, sooner than it previously forecast, as more nations crack down on fossil fuels to fight global warming.

The oil major’s 2021 Energy Outlook, which includes net-zero pledges unveiled by several countries since the presentation of last year’s edition, assumes oil demand plateauing before 2030 and declining afterwards both in the group’s “Momentum̶1; and “Rupture”; scenarios, the company said Monday in a statement.

Total’s base-case scenario in its 2020 Energy Outlook was for crude demand to level out around 2030 and slowly decline afterwards. The company also cut its forecast for global emissions, reflecting pledges from major companies to become carbon neutral in coming decades.

As a result, this year’s edition raises “considerably” the forecast for solar and wind investments by the middle of the century as governments increasingly ban the sale of internal combustion vehicles and single-use plastics.

[ariane] 27/9/2021 14:32

TotalEnergies
40.945 +3.15%

[grupo guitarlumber] 27/9/2021 11:40

[United Kingdom] TOTALENERGIES SE (TTA)

Real-time Estimate Quote. Real-time Estimate Tradegate - 09/27 06:38:59 am

40.888 EUR +5.08%

[grupo guitarlumber] 27/9/2021 11:00

TotalEnergies
40.945 +3.15%

[grupo guitarlumber] 26/9/2021 18:09

September/28 2021

Investor Day 2021 - Total Strategy and Outlook

[florenceorbis] 25/9/2021 07:04

TOTALENERGIES SE: Stellantis and TotalEnergies Welcome Mercedes-Benz as a New Partner of Automotive Cells Company (ACC) and Raise Its Capacity Plan to at Least 120 GWh by 2030
24/09/2021 8:06am
UK Regulatory (RNS & others)



TIDMTTE



Stellantis, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and Mercedes-Benz have entered into agreements to welcome Mercedes-Benz as a new partner of Automotive Cells Company (ACC). The transaction is subject to agreement on definitive documentation and customary closing conditions, including regulatory approvals. Following its entry, the partners commit to increase ACC's industrial capacity to at least 120 GWh by 2030.



ACC results from the initiative taken in 2020 by Stellantis and TotalEnergies, together with its affiliate Saft, and supported by the French, German and European authorities, to create a European battery champion for electric vehicles. The entry of Mercedes-Benz in ACC is a clear demonstration of its industrial progress and of the merits of the project, which it will strengthen.



ACC's objective is to develop and produce battery cells and modules for electric vehicles with a focus on safety, performance and competitiveness, while ensuring the highest level of quality and the lowest carbon footprint. The updated ACC capacity plan will mobilize an investment of more than seven billion euros, which will be supported by subsidies and financed by equity and debt. The creation of this European battery champion will support Europe to address the challenges of the energy transition in mobility, ensure its security of supply of a key component for the electric car industry.



ACC will be supported by a winning trio of partners that combine:

-- A deep technological expertise in battery development with Saft, the
affiliate of TotalEnergies, which has more than 100 years of experience
in the field of long-life batteries and battery systems.

-- A leading global mobility player with Stellantis that has a clear mission
to provide cutting-edge technology to ensure freedom of movement for all
through distinctive, appealing, affordable and sustainable mobility
solutions.

-- The research and development expertise of Mercedes-Benz, along with its
support to the expansion of ACC's production facilities based on the
brand's benchmark quality standards.


"Mercedes-Benz pursues a very ambitious transformation plan and this investment marks a strategic milestone on our path to CO2 neutrality. Together with ACC, we will develop and efficiently produce battery cells and modules in Europe -- tailor-made to the specific Mercedes-Benz requirements," says Ola Källenius, CEO of Daimler AG and Mercedes-Benz AG. "This new partnership allows us to secure supply, to take advantage of economies of scale, and to provide our customers with superior battery technology. On top of that, we can help to ensure that Europe remains at the heart of the auto industry -- even in an electric era. With Mercedes-Benz as a new partner, ACC aims to more than double capacity at its European sites to support Europe's industrial competitiveness in the design and manufacturing of battery cells."



"We welcome Mercedes-Benz as a strategic partner who shares our ambition to accelerate ACC's leadership," said Stellantis CEO Carlos Tavares. "Stellantis' electrification strategy is running full-speed ahead, and today's announcement is the next step in our plan to be the automotive frontrunner, with all 14 brands committed to offering best-in-class fully electrified solutions that meet demands of customers. This consortium leverages our shared technical expertise and manufacturing synergies, and continues to ensure that Stellantis leads the way the world moves in the most efficient, affordable and sustainable way."



"We are delighted to welcome Mercedes-Benz as a new partner of ACC. This demonstrates the credibility of our initiative taken a year ago with Stellantis and will clearly support our ambition to create a European battery champion. Together, we are bringing all our skills to contribute to the sustainable development of mobility. This new step is another demonstration of TotalEnergies transformation into a broad energy company and of our willingness to extend our footprint in electric mobility. TotalEnergies will draw on the recognized expertise of its subsidiary Saft in batteries and on the industrial know-how of our partners to meet the strong growth of electric vehicles in Europe" said Patrick Pouyanné, TotalEnergies' Chairman and CEO.



About ACC



Automotive Cells Company (ACC) was founded in August 2020 and to date combines the expertise of three major companies with complementary skills and experience. ACC's ambition is to become the European market leader for car batteries that allow clean and efficient mobility for all. The R&D Center and testing facilities in Nouvelle-Aquitaine are just the beginning.



About Mercedes-Benz



Mercedes-Benz AG is responsible for the global business of Mercedes-Benz Cars and Mercedes-Benz Vans, with over 170,000 employees worldwide. The company focuses on the development, production and sales of passenger cars, vans and vehicle-related services. Furthermore, the company aspires to be the leader in the fields of electric mobility and vehicle software. Mercedes-Benz AG is one of the world's largest manufacturers of luxury passenger cars. In its two business segments, Mercedes-Benz AG is continually expanding its worldwide production network with around 35 production sites on four continents, while gearing itself to meet the requirements of electric mobility. At the same time, the company is constructing and extending its global battery production network on three continents.



About Saft



Saft specializes in advanced technology battery solutions for industry, from the design and development to the production, customization and service provision. For more than 100 years, Saft's longer-lasting batteries and systems have provided critical safety applications, back-up power and propulsion for our customers. Our innovative, safe and reliable technology delivers high performance on land, at sea, in the air and in space. Saft is powering industry and smarter cities, while providing critical back-up functionality in remote and harsh environments from the Arctic Circle to the Sahara Desert. Saft is a wholly owned subsidiary of TotalEnergies, a broad energy group that produces and markets fuels, natural gas and electricity.



We energize the world. www.saftbatteries.com



About Stellantis



Stellantis is one of the world's leading automakers and a mobility provider, guided by a clear vision: to offer freedom of movement with distinctive, affordable and reliable mobility solutions. In addition to the Company's rich heritage and broad geographic presence, its greatest strengths lie in its sustainable performance, depth of experience and the wide-ranging talents of employees working around the globe. Stellantis will leverage its broad and iconic brand portfolio, which was founded by visionaries who infused the marques with passion and a competitive spirit that speaks to employees and customers alike. Stellantis aspires to become the greatest, not the biggest, while creating added value for all stakeholders, as well as the communities in which it operates.



About TotalEnergies



TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, 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.

[florenceorbis] 24/9/2021 18:13

Barclays analyst Lydia Rainforth maintains his Buy rating on the stock. The target price remains set at EUR 50.