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| 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 | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 53.35 | 1,333,136 | 16:35:06 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 50.80 | 55.90 | 54.00 | 54.00 | 54.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Crude Petroleum & Natural Gs | USD 219.47B | USD 21.38B | USD 8.1645 | 6.54 | 139.73B |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 17:13:31 | O | 191,200 | 53.3616 | EUR |
| Date | Time | Source | Headline |
|---|---|---|---|
| 22/11/2024 | 07:00 | UK RNS | TotalEnergies SE Admission of securities to the official list |
| 23/1/2024 | 07:42 | UKREG | TOTALENERGIES SE: Germany: TotalEnergies Acquires Kyon Energy, a Leading.. |
| 23/1/2024 | 07:32 | UKREG | TOTALENERGIES SE: Renewables: TotalEnergies and European Energy Expand.. |
| 22/1/2024 | 17:02 | UKREG | TOTALENERGIES SE: TotalEnergies: Disclosure of Transactions in Own Shares |
| 19/1/2024 | 12:29 | UKREG | TOTALENERGIES SE: Director/PDMR Shareholding |
| 16/1/2024 | 08:25 | UKREG | TOTALENERGIES SE: TotalEnergies SE: Disclosure of Transactions in Own.. |
| 16/1/2024 | 07:35 | UKREG | TOTALENERGIES SE: Trading Statement |
| 11/1/2024 | 17:54 | UKREG | TOTALENERGIES SE: Director/PDMR Shareholding |
| 10/1/2024 | 07:30 | UKREG | TOTALENERGIES SE: Namibia: TotalEnergies Increases Its Interests in.. |
| 09/1/2024 | 12:00 | UKREG | TOTALENERGIES SE: Total Voting Rights |
Totalenergies (TTE) Share Charts1 Year Totalenergies Chart |
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1 Month Totalenergies Chart |
Intraday Totalenergies Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 10/12/2024 | 10:28 | TOTALENERGIES SA | 895 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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Posted at 14/12/2024 08:20 by Totalenergies Daily Update Totalenergies Se is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker TTE. The last closing price for Totalenergies was 53.35 €.Totalenergies currently has 2,619,131,285 shares in issue. The market capitalisation of Totalenergies is £139,756,845,368. Totalenergies has a price to earnings ratio (PE ratio) of 6.54. This morning TTE shares opened at 54.00 € |
Posted at 10/12/2024 10:28 by waldron TotalEnergies: complex?By Claude Leguilloux Published on 10/12/2024 at 10:08 am (Boursier.com) - TotalEnergies recovered 0.3% to €54.80 in morning trading in Paris on Tuesday, after a more difficult sequence in the wake of hesitations in the price of a barrel of Brent crude oil and an increasingly complex situation in the Middle East, as evidenced once again by the the collapse of the Syrian regime... Among the latest brokerage opinions, Goldman Sachs remains ‘neutral’ group, with its target cut from €66 to €61, while JP Morgan has is still ‘overweight RBC Capital had previously upgraded its opinion on the oil giant to ‘outperform credible strategy in the integrated oil sector... The broker noted that the valuation offered a modest premium to its peers, while total shareholder return is expected to outperform the sector in 2025. It points out that many peers are cutting shareholder pay,but that the French giant is delivering compelling growth in free cash flow per share. It estimates total shareholder return in 2025 at 12.7%. The price target has been maintained at €80. Translated with DeepL.com (free version) |
Posted at 04/12/2024 10:58 by misca2 TotalEnergies, EDF claim 1.7 GW in Saudi solar deal during Macron visitDec 4, 2024, 12:12:01 PM Article by Martina Markosyan RENEWABLESNOW French energy groups TotalEnergies (EPA:TTE) and EDF emerged as major winners in a solar tender in Saudi Arabia, securing a combined 1.7 GW as announced during French President Emmanuel Macron's visit to Riyadh, where energy-related agreements were signed between French and Saudi companies. The winners have signed 25-year power purchase agreements (PPA) for the sites under a build-own-operate model. The solar projects are part of Round 5 of the National Renewable Energy Programme (NREP) which offered four projects totalling 3.7 GW. In November, the 2-GW Al Sadawi solar project was awarded to a consortium led by UAE-based developer Masdar. A consortium comprising TotalEnergies and Saudi Arabia’s Aljomaih Energy and Water Company (AEW) signed the PPA with the Saudi Power Procurement Company (SPPC) related to the 300-MW Rabigh 2 solar project, the French firm confirmed separately. The plant is expected to become operational in 2026. EDF Renewables has emerged as a winner for two projects of a combined 1.4 GW. The projects include the 1-GW Al-Masaa and the 400-MW Al-Henakiyah 2 schemes in which the French firm is partnering with the Chinese State Power Investment Corporation (SPIC). TotalEnergies further announced the signing of a joint development and cost-sharing agreement with Saudi Investment Recycling Company (SIRC) and Saudi Arabian Oil Company (TADAWUL:2222), better known as Aramco, to explore the development of a sustainable aviation fuels (SAF) production site in the Kingdom. SIRC has separately signed a memorandum of understanding (MoU) with French utility company Veolia (EPA:VIE) to create a regional leader in waste treatment. The two companies will pool their expertise to manage organic, industrial and hazardous waste at a regional and national level in a drive to preserve the resource as well as decontaminate and decarbonise the country by producing green energy, Veolia noted in a statement. |
Posted at 07/11/2024 11:37 by gibbs1 TotalEnergies to Supply Sinopec with 2 MMtpa of LNG for 15 Yearsby Jov Onsat | Rigzone Staff | Thursday, November 07, 2024 | 4:04 AM EST TotalEnergies SE has signed an agreement with China Petroleum & Chemical Corp. to supply the state-owned refiner with two million tons per annum (MMtpa) of liquefied natural gas (LNG) for 15 years starting 2028. “Thanks to this major agreement with one of the leading LNG players in the country, TotalEnergies strengthens its long-term position in the LNG market in China, the largest market in the world”, TotalEnergies said in a statement. “In China, natural gas is a key component of the energy transition as it mitigates the intermittency of rapidly growing renewable energies and helps reduce greenhouse gas emissions when it replaces coal in electricity production”, the French energy major added. TotalEnergies aims to increase the share of natural gas in its sales mix to nearly 50 percent by 2030. “This new agreement demonstrates the competitiveness of TotalEnergies’ LNG business and allows us to continue growing our long-term sales in Asia”, Stéphane Michel, president for gas, renewables and power at TotalEnergies, said in the online company statement. Sinopec senior vice president Niu Shuanwen commented, “Natural gas is an important enabler for realizing energy transition and dual carbon goals.”. “Sinopec is committed to building the world's leading clean energy and chemical company and will continue to promote energy transition and the clean, diversified and secure supply of energy”, Niu added. The agreement is part of the “strategic cooperation agreement” the companies forged in May during Chinese President Xi Jinping’s state visit to France, TotalEnergies said in the statement. The cooperation pact aims to grow the companies’ existing partnerships by collaborating on biofuels, green hydrogen, carbon capture and other decarbonization activities, according to a TotalEnergies press release May 7. Last September TotalEnergies announced long-term agreements to export LNG to China, South Korea and Turkiye. On September 24 it said it had signed a heads of agreement with HD Hyundai Chemical Co. Ltd. for the sale of 200,000 metric tons per year. The agreement lasts seven years from 2027. On September 19 TotalEnergies said it had secured a five-year extension to a contract with China National Offshore Oil Corp. for the delivery of 1.25 MMtpa of LNG until 2034. On September 18 TotalEnergies said it had inked a heads of agreement with Turkiye’s state-owned BOTAS for the delivery of 1.1 MMtpa of LNG for 10 years from 2027. TotalEnergies said the long-term sales to Asia reduce its exposure to spot market prices. To contact the author, email jov.onsat@rigzone.co |
Posted at 18/10/2024 00:35 by waldron Bears Still Rule Oil Market, But for How Long?By Irina Slav - Oct 17, 2024, 6:00 PM CDT Oil prices dropped this week due to weak economic data from China and revised oil demand forecasts from the IEA and OPEC. Forecasts from OPEC, IEA, and EIA all indicate slower oil demand growth for 2024 and 2025, though these organizations have a history of forecasting errors. Despite concerns about lower demand and rising non-OPEC supply, oil demand—particu Oil rigs Last week, the oil market had a fit of anxiety after Iran fired missiles at Israel as everyone waited for Israel’s answer. Oil bears had a bad week, having to cover their short positions as the benchmarks jumped. But it was over quickly. China’s economic data was released, the IEA and OPEC published their latest oil market forecasts, and prices slumped right back down. The bears are firmly dominant in the oil market—but it is a fragile dominion. OPEC said in its latest Monthly Oil Market Report, published earlier this week, that it now expects 2024 crude oil demand to grow by 1.93 million barrels daily. This was the third consecutive downward revision of demand growth by the cartel, which had started the year with the confidence that demand would grow by well over 2 million barrels daily. Then the International Energy Agency said in its own monthly Oil Market Report that oil demand would this year rise by a modest 862,000 barrels daily in what was yet another downward revision by the forecaster. The third closely followed producer of oil demand forecasts, the U.S. Energy Information Administration, had an equal dose of bad news for those who like their oil prices high. In a recent update, the EIA forecast that 2025 oil demand growth will be weaker than previously expected. Related: Oman's National Oil Company Raises $2B in Record-Breaking IPO In such a forecasting context, it is difficult to see anything positive in oil’s fundamentals. Rising non-OPEC supply from the U.S., Canada, Guyana, and Brazil, returning supply from OPEC and its OPEC+ partners, and lower demand from the world’s largest oil consumer are all indicators flashing red. But here’s the twist: these forecasters have made mistakes before. They might make mistakes again. Last year, the Energy Information Administration reported for several months in a row that oil production in the Permian was declining. Those reports were based on estimated data. When the factual data came in, as it does with a couple of months’ delay, it turned out that production in the Permian had very much continued to grow throughout the summer. The EIA has also been more or less consistently pessimistic about U.S. oil demand growth, only to reveal this year that in two separate months, demand hit multi-year highs. The International Energy Agency is perhaps the most spectacular mistake-maker. Back in 2021, the agency published its now notorious Road Map to Net Zero, which has turned into a blueprint for the transition parroted by many other outlets. In that blueprint, the IEA said the energy industry could stop exploring for more oil and gas in that same year because the world did not need it amid a transition gathering pace. But the outlets that adopted the road map as a blueprint seem to forget that just months after the publication of that road map, the IEA was calling for more oil and gas supply amid a looming shortage. The IEA has also been repeating the argument that EV adoption would erase a lot of crude oil demand, and it has continued to do so regardless of developments in the EV market, such as slumping sales that reversed the strongest year for EVs yet as governments run out of subsidies. Oil demand, meanwhile, remains resilient—incl Speaking of China, it is everyone’s favorite culprit for lower oil prices. Economic developments that in other parts of the world are usually seen as benign, such as modest inflation, in China are being taken to mean a disastrous future for consumer demand and, by extension, crude oil demand. Indeed, the latest price slump that began this Monday was based on precisely that: weaker-than-expected consumer price increases in China in September. There is also the non-OPEC supply that the IEA often cites as a reason for its expectations of a well-supplied— Guyana’s output is rising in leaps and bounds, but U.S. drillers are slowing down the addition of new supply in response to depressed prices. And Canadian oil, although marking a strong output increase between last year and this, is under a constant threat of curbs from a federal government prioritizing emission reduction above all else. Regarding Chinese demand, skittish traders appear to have missed the fair amount of overhyping at play. After the end of the lockdowns, Chinese oil demand soared sky-high as the country was getting back into growth gear. Such surges, however, are unsustainable, and the rate of demand growth was bound to weaken sooner rather than later as the global economy around China kept trying to shake off the effects of the lockdowns. Forecasts about oil demand can be valuable tools for gleaning a possible immediate future. But this is just the thing: it is one possible scenario that is based on a number of assumptions. These assumptions, however, do not infrequently turn out to be wrong. By Irina Slav for Oilprice.com |
Posted at 04/10/2024 17:20 by waldron Why TotalEnergies Shares Are Surging Todayby Lekha Gupta, Benzinga Editor October 4, 2024 12:49 PM | 1 min read | Zinger Key Points TotalEnergies secured the top spot in Bulgargaz's tender for LNG supply in Greece for November and December 2024. Six companies submitted binding offers, with TotalEnergies offering the most competitive terms among international contenders. TotalEnergies SE TTE+1.47% shares are trading higher on Friday. The company secured the top spot in Bulgargaz EAD's tender for LNG supply at the Alexandroupolis terminal in Greece for November and December 2024, offering the most competitive terms. The natural gas distribution company Bulgargaz stated that thirteen international companies showed interest, with six submitting binding offers. Notably, Bulgargaz had earlier announced tenders for five LNG cargoes (5,000,000 MWh), including one for January-February 2025. The first tender, covering October, closed in September, and 1,000,000 MWh of LNG from Norway has already been delivered. The company will select the supplier for the January-February tender by mid-November. This week, TotalEnergies inked mid-term LNG supply deal with Santos for 20 cargoes annually, starting Q4 2025. Yesterday, the company stated that it expects Oil & Gas production growth of about 3% annually through 2030, driven by LNG, with six major projects launching in 2024 across Brazil, Suriname, Angola, Oman, and Nigeria. . Price Action: TTE shares are up 1.47% at $68.88 at the last check Friday. Shell, TotalEnergies, Equinor Complete Carbon Storage Project: Exec Says Joint Venture Plays ‘Vital’ Environmental Role This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs Benzinga.com. Benzinga does not provide investment advice. All rights reserved. |
Posted at 26/9/2024 06:42 by waldron TotalEnergies to Supply LNG to Korea's HD Hyundai Chemicalby Rocky Teodoro | Rigzone Staff | Wednesday, September 25, 2024 | 8:47 AM EST 'This agreement allows us to continue securing long-term sales in Asia and reduce our exposure to spot market gas prices'. TotalEnergies SE has signed a heads of agreement (HoA) with South Korea’s HD Hyundai Chemical. The agreement, with prices indexed both to Brent and Henry Hub, is for the delivery of 200,000 tons of liquefied natural gas (LNG) per year for seven years starting in 2027, the French oil major said in a news release. The agreement strengthens TotalEnergies’ long-term position in South Korea, the world’s third-largest LNG-importing country, the company said. In Asia, LNG serves as a true transition energy, mitigating the intermittency of renewable energy sources and reducing emissions when it replaces coal in electricity generation, the company noted. “We are pleased with this agreement with HD Hyundai Chemical, which will supply natural gas to one of their industrial sites. This agreement allows us to continue securing long-term sales in Asia and reduce our exposure to spot market gas prices,” Gregory Joffroy, Senior Vice President for LNG at TotalEnergies, said. TotalEnergies said it is the world’s third largest LNG player with a global portfolio. The company benefits from an integrated position across the LNG value chain, including production, transportation, access to regasification capacity in Europe, trading, and LNG bunkering. Its ambition is to increase the share of natural gas in its sales mix to close to 50% by 2030, to reduce carbon emissions and eliminate methane emissions associated with the gas value chain, and to work with local partners to promote the transition from coal to natural gas, according to the release. SAF Agreement with Air France-KLM Meanwhile, TotalEnergies signed an agreement with Air France-KLM to supply up to 1.5 million tons of sustainable aviation fuel (SAF) to Air France-KLM Group airlines over a 10-year period, until 2035. The agreement marks one of the largest SAF purchase contracts signed by Air France-KLM to date, according to a separate news release. In 2022 and 2023, Air France-KLM was the world's leading SAF user, representing 17 percent and 16 percent of total global production respectively. The contract builds on a memorandum of understanding (MoU) signed in 2022 for the supply of 800,000 tons of SAF. The SAF supplied by TotalEnergies to Air France-KLM will be made from waste and residues from the circular economy and will be produced in TotalEnergies' French and European biorefineries and refineries by coprocessing. The SAF will be used to fuel flights operated by Air France-KLM’s airlines on departure from France, the Netherlands, and other European countries. SAF allows for a reduction in carbon dioxide emissions of at least 75 percent and up to 90 percent over the entire fuel life cycle, compared with fossil fuel equivalents, according to the release. “SAF contributes both to the energy transition of our customers in the aviation sector and to the industrial transition of our refineries. It therefore represents a real 'win-win' for the future of industry and aviation”, Patrick Pouyanné, Chairman and CEO of TotalEnergies, said. “For the past 10 years, we have been pioneers in the field, investing in biorefineries and SAF production facilities in France as well as developing coprocessing technologies in our refineries. Building on these industrial successes, we intend to continue this momentum in Europe and worldwide”. “Securing the volumes of more sustainable aviation fuel needed to decarbonize our activity is a major challenge. This agreement with TotalEnergies is a further step in this direction, and a testament to our long-standing support for the development of SAF production in France and Europe. A solid SAF sector capable of meeting our industry’s needs is a key factor in Europe's sovereignty and energy independence,” Benjamin Smith, CEO of Air France-KLM Group, said. To contact the author, email rocky.teodoro@rigzon |
Posted at 25/9/2024 09:07 by grupo Boursier.com) - TotalEnergies fell by 1% to 61 euros on Wednesday, while RBC Capital maintained its ‘sector performance’ recommendation with an adjusted target of 75 to 80 euros.Jefferies is keeping the stock with a target price of €62, while Kepler Cheuvreux had downgraded the rating to ‘hold’ with a target price of €65. The group announced the signing of a sales agreement (HoA) with HD Hyundai Chemical for the delivery of 200,000 tonnes of LNG per year for 7 years from 2027. With this agreement, the price of which is indexed to Brent and Henry Hub, TotalEnergies strengthens its long-term position in South Korea, the world's third largest importer of LNG. In Asia, LNG is a genuine transitional energy source that compensates for the intermittent nature of renewable energies and helps to reduce emissions when it replaces coal in electricity production. Translated with DeepL.com (free version) |
Posted at 12/9/2024 10:48 by waldron Energy StocksBP shares look undervalued as it offers strong cash flow and double-digit returns at $70-a-barrel oil prices, according to Berenberg. However, the company's 2025 targets seem increasingly difficult, and Berenberg's estimate is about 20% below market expectations for 2025-26 due to weaker commodity prices and refining margins. A worsening outlook for oil and European gas and liquefied natural gas and refining margins will likely put pressure on earnings, cash flow and buybacks in the European energy sector over the coming quarters, Berenberg said, adding that some of this should already be reflected in share prices. TotalEnergies and Shell remain Berenberg's top picks for the sector. |
Posted at 08/9/2024 17:53 by waldron Author Jana KaneUpdated 02Sep.202411:51 The question of whether oil will rise or fall is a pressing concern for traders and investors who closely follow the energy market. Geopolitical and economic factors make oil price forecasting a challenging task. Therefore, it is crucial to analyze expert forecasts before making informed trading decisions. Recent data shows a notable decrease in oil purchases of WTI and Brent among asset managers. According to the Commodity Futures Trading Commission, the pace of reduction is the fastest in 4 years. Meanwhile, OPEC is sticking to its decision for member countries to temporarily reduce production until the end of 2024, preventing further price declines. The overall trend is downward, but oil is susceptible to any geopolitical events that may reverse the current trend. This article analyzes the factors that may affect the price of oil and presents forecasts for the WTI rate. Let's find out what will happen to the WTI rate in the near and distant future. The article covers the following subjects: Highlights and Key Points: WTI Crude Price Forecast for 2024–2030 Oil weekly price forecast as of 02.09.2024 US Crude Oil Technical Analysis Long-Term US Crude Technical Analysis for 2024 Long-Term Trading Plan for WTI Crude Oil Price Forecast for 2024 – Experts Predictions Oil Price Forecast for 2025 – Experts Predictions Long-Term Oil Predictions 2026–2030 Oil Price History Factors that Can Affect the Oil Price Why Oil Is So Popular In Financial Markets? Oil Varieties Conclusion: Is Oil a Good Investment? Oil Price Prediction FAQ Highlights and Key Points: WTI Crude Price Forecast for 2024–2030 The oil price is $67.555 as of 08.09.2024. Most experts assume that oil will fluctuate within the sideways channel of $70.00–$85.00 until the end of 2024, suggesting that the market will remain relatively stable, with minimal price changes. During a sideways market, it is better to open trades near the trading channel's boundaries. Short and long trades can be opened at $87.00 and $68.00, respectively. In the short term, oil is projected to slump to the lower boundary of the sideways channel. If the price goes beyond the key levels, buyers and sellers may develop the trend. The bearish and bullish scenarios assume that the crude price may reach $62.40 or $93.85, depending on the trend direction. Analysts forecast growth for 2025. The average price is predicted to be in the range of $83–$84 per barrel. According to long-term forecasts for 2026–2030, the price is expected to rise to $115 per barrel. Such limited growth typically precludes significant and risky corrections, which could result in financial losses for inexperienced traders. Oil trading can be a lucrative investment opportunity. Oil is one of the world's most widely traded assets. Due to the high trading volumes, you can find favorable buying and selling prices. The oil price is influenced by a number of factors, including geopolitical events, shifts in supply and demand, natural disasters, and political decisions. The market's high volatility presents numerous opportunities for traders to generate profits from both rising and falling prices. Oil can be an excellent asset for investors to diversify their portfolios. Oil trading helps to reduce overall risk, especially if the investment portfolio consists of stocks and bonds. You can trade oil using various instruments such as futures, options, contracts for difference, exchange-traded funds, and even oil company stocks. This wide variety provides flexibility in choosing a trading strategy. Before making any trading decisions, it is essential to conduct a detailed analysis, assess the risks, and compare potential profits with potential losses. Any forecasts should be treated with caution as they may change depending on various factors. USCrude: according to technical analysis, oil continues to fall within the medium-term downtrend. The asset reached its first bearish target of 74.55 last week. The next target is the August low near 71.34. USCRUDE current rate in the Forex market: USCRUDE = $67.772 Sell 67.555 Buy 67.772 Sentiment 99.6% 1-day change -1.96 (-1.35%) Last week, oil started an upward correction and hit the resistance (A) 77.74 - 77.17. Bears managed to hold the price below this area. As a result, the price has dropped and breached the support of 74.55. Therefore, the asset may decline to the August low near 71.34. This week, consider keeping your short trades initiated at the resistance (A) 77.74 - 77.17 open until the price hits the second target near 71.34. As for sales, a stop-loss order can be placed at the breakeven point. If the price consolidates below the August low, the slump will likely continue to the target in the Target Zone 3, 68.46 - 67.95. USCrude trading ideas for the week: Hold up sales opened at resistance (А) 77.74 - 77.17. TakeProfit: 71.34. StopLoss: at the breakeven (77.17). Technical analysis based on margin zones methodology is presented by an independent analyst, Alex Rodionov. On April 5, 2024, the price surged to a high of around $87.10. However, by June 4, it dropped to a low of $72.44. On July 5, the price reached another high of $83.92 and fell to $71.12 on August 5. The decline in the major highs and lows points to a downtrend on the daily chart. The long-term trend's EMA 190 does not show a clear direction and is moving horizontally. The EMA 21 is bearish, which indicates a short-term downtrend. Let's use technical analysis indicators to make a forecast for three months and 2024. In June 2024, the price tried to reverse the long-term downtrend by breaking through the red cloud. WTI traded above the cloud for some time but failed to form an upward movement. As a result, the asset fell again and reached below the June low near the support of $72.45. Oil is trading in a long-term downtrend. The red cloud emerging on the right side of the current price confirms this. Tenkan and Kijun lines are descending, meaning the short-term and medium-term trends are also bearish. The nearest unconfirmed resistance level is at $74.50. If bears manage to hold the price below this level, the decline will continue to $72.45. The Tenkan line located near this level provides additional strength to the $74.50 level. The chart shows the August high of $78.10, which serves as resistance. If the price breaks through the $74.50 level, the growth will continue to $78.10. Consider short trades at this level. The Kijun line located near this mark adds strength to this level. The downtrend is expected to continue for the next three months. Therefore, consider short trades at the resistance levels of $74.50 and $78.10 with the target of $72.45. If the asset breaches the $72.45 level, the decline will continue to $70.00 and $67.65. The oil's key support is the December 2023 low near $68.00. If the price breaks through this level, bears may push the quotes down to $62.40. The key resistance is the April 2024 high near $87.00. If the price breaches this level, the asset may rise to $93.85 in the long term. Therefore, the quotes are expected to move either to the upper or lower boundary of the channel in the remaining half of 2024. Besides, the asset will likely try to break through the key resistance or support. If so, the price will move further to the breakout level. The highest bullish target for 2024 is $93.85, and the lowest bearish one is $62.40. The oil is trading in a short-term downtrend. Therefore, the quotes may decline after a correction in the next month. The bearish target is the August 2024 low near $71.20. In the next three months, the price will be trading flat within the $68.00–$87.00 range. If the rate breaches the range boundaries, the asset will trade in a wider channel of $62.40–$93.84. Long-term trading requires focusing on the global trend, which has remained bearish since March 2022. Therefore, the price may try to break the support of $68.00 in 2024. If oil breaks through the $68.00 level, the price may reach below the 2023 low and decline to $62.40. The negative outlook will remain valid if the price fails to break through the resistance of $87.00 marked on the weekly chart. If oil breaches this level, the quotes will grow to $93.85. If the price consolidates above $93.85, the downtrend may reverse. If so, the asset may reach above the 2022 highs near $126.00. |
Posted at 26/7/2024 07:05 by ariane TotalEnergies to Buy Half of OranjeWind to Power Hydrogen Projectsby Jov Onsat | Rigzone Staff | Friday, July 26, 2024 | 2:45 AM EST RWE agreed to farm out a 50 percent stake in a planned 795-MW offshore wind farm in the Netherlands to TotalEnergies, which plans to use its share of the generation to power electrolyzer projects. RWE AG has agreed to farm out a 50 percent stake in a planned 795-megawatt (MW) offshore wind farm in the Netherlands to TotalEnergies SE, which plans to use its share of the generation to power electrolyzer projects. The partners have now also taken a final investment decision on the project, to rise on the Dutch side of the North Sea 53 kilometers (32.9 miles) off the coast of the town of Ijmuiden, German renewable electricity producer RWE said in a statement. “TotalEnergies plans to decarbonize its European refineries' hydrogen and cut its CO2 emissions by around 5 million tons per year by 2030”, the French energy giant said in a separate press release. “In this context, the Company intends to allocate its share in OranjeWind to produce electricity to generate green hydrogen via electrolysis. “The production of this green or low-carbon hydrogen, which will replace the hydrogen currently consumed in TotalEnergies' refineries, will avoid the emission of approximately 400,000 tons of CO2 per year. “The project is a new milestone towards TotalEnergies’ goal of a 40 percent reduction in net greenhouse gas emissions linked directly to its oil and gas operations (Scope 1 and 2) by 2030, compared to the 2015 baseline”. Expected to start service early 2028, OranjeWind will have an annual power production of about three terawatt hours, enough for over one million Dutch households, according to RWE. OranjeWind is its first offshore wind project in the Netherlands. The facility will be integrated into the Dutch energy distribution system “to address the challenges presented by matching intermittent electricity production from renewables with flexible demand for energy”, RWE said. “To this end, each partner will deliver their allocated part of system integration solutions, including electrolyzers, smart charging solutions for electric vehicles, e-boilers for heating and battery storage”, it said. Offshore construction is scheduled to launch 2026, with suppliers already selected for main components, RWE said. Vestas will deliver 53 turbines with a capacity of 15 MW each while the monopiles will come from SiF, with Jan De Nul contracted to install these components. TKF will supply inter-array cables, while TenneT will implement the offshore-to-onshore grid connection. OranjeWind will demonstrate a seabed battery system developed by Verlume and a pumped hydro-storage system from Ocean Grazer. The developers also plan to use scanning LiDAR (light detection and ranging system) to accurately measure wind at long ranges. To maximize the project area, RWE has also partnered with SolarDuck, a Dutch-Norwegian provider of offshore floating solutions for solar energy, to develop a demonstration floating solar farm. “Part of the OranjeWind project is also to accelerate the commercial application of new offshore technologies by supporting a vast amount of innovators and start-ups in demonstrating their innovation in an operational environment”, RWE said. Sven Utermöhlen, chief executive for offshore wind at RWE, said, “The Netherlands is one of our strategic core markets to grow our green portfolio”. To contact the author, email jov.onsat@rigzone.co |
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