Totalenergies Se Stock Price, News & Analysis

TotalEnergies SE announces a tender offer to repurchase part of its €2.5 billion Undated Deeply Subordinated Notes issued in February 2015. The company simultaneously plans to issue new Euro-denominated undated deeply subordinated fixed rate resettable notes in two tranches, with 5.25-year and 10-year non-call periods. The tender price is set at 99.80% of the principal amount. The tender offer expires at 17:00 CET on November 19, 2024, with settlement expected on November 22, 2024. This initiative aims to proactively manage the company's hybrid portfolio.

TotalEnergies SE has reported share repurchase transactions conducted from October 28 to November 1, 2024. The company bought back a total of 2,209,416 shares at an average price of €58.78 per share, with a total investment of €129,869,928.80. The transactions were executed across multiple trading venues including XPAR, CEUX, TQEX, and AQEU. These share repurchases were conducted in accordance with the authorizations granted by shareholders at the general meeting on May 24, 2024.

TotalEnergies has released its 6th annual Energy Outlook, presenting three scenarios for global energy system evolution through 2050. The report introduces a new 'Trends' scenario alongside existing Momentum and Rupture scenarios, reflecting current trajectories and anticipated developments. The report highlights that 4.5 billion people currently lack adequate energy access for proper development, with projections showing a need to quadruple energy availability in least developed countries by 2050 due to population growth. The outlook emphasizes the ongoing energy transition, noting increased renewable energy adoption since 2015, while addressing challenges like continued coal demand growth and the need to accelerate energy intensity improvements beyond the current 1.4% annual rate.

TotalEnergies announces a major 15-year LNG supply agreement with Sinopec, starting in 2028. The deal involves delivering 2 million tons of LNG annually to China, the world's largest LNG importing market. This agreement strengthens TotalEnergies' position in China's LNG market and follows a strategic cooperation agreement signed during President Xi Jinping's visit to France. TotalEnergies, currently the world's third-largest LNG player with a global portfolio of 44 Mt/y in 2023, aims to increase natural gas share in its sales mix to nearly 50% by 2030.

TotalEnergies SE announced its third interim dividend for fiscal year 2024 at €0.79 per share, representing a 6.8% increase compared to the 2023 interim dividends. This amount matches the first and second interim dividends of 2024. The decision aligns with the company's shareholder return policy confirmed in February 2024 and reaffirmed at the May 2024 Annual General Meeting. The dividend will be paid exclusively in cash, with payment dates set for April 1, 2025, for shareholders and April 16, 2025, for ADS holders.

TotalEnergies reported $4.1B adjusted net income for Q3 2024 and $13.9B for the first 9 months, demonstrating resilience in a volatile oil environment. The company's Exploration & Production segment posted $2.5B adjusted net operating income with stable cash flow of $4.3B. Upstream production was 2.41 Mboe/d, benefiting from Mero 2 ramp-up in Brazil. Integrated LNG achieved $1.1B adjusted net operating income, while Downstream posted $0.6B amid sharp refining margin decline. The Board approved a third interim dividend of 0.79 €/share and authorized $2B in share buybacks for Q4 2024.

TotalEnergies announces the start of oil production from Mero-3, the third development phase of the Mero field in Brazil's Santos Basin. The project includes 15 wells connected to the Marechal Duque de Caxias FPSO with a 180,000 barrels per day capacity. With Mero-3's launch, the field's total production capacity reaches 590,000 barrels per day. The project features environmental considerations including gas reinjection and zero routine flaring. A fourth phase, Mero-4, is under construction with expected start-up in 2025. At full capacity, TotalEnergies' share will exceed 100,000 barrels per day.

TotalEnergies and partners have signed a Preliminary Contract for Land Reservation for the 'Chbika' project in Morocco. The project aims to build 1 GW of onshore solar and wind capacities to power green hydrogen production through seawater electrolysis, targeting 200,000 tons per year of green ammonia for the European market. Located in the Guelmim-Oued Noun region, this initiative represents the first phase of a world-scale green hydrogen production hub. TE H2 and CIP will develop renewable energy production, while A.P. Møller Capital will handle port infrastructure development. The project leverages Morocco's exceptional renewable potential and strategic location to support Europe's Green Deal objectives.

TotalEnergies announces a new gas condensate discovery at the Harald East Middle Jurassic well (HEMJ-1X) in the Danish North Sea. Located 250 km off Denmark's west coast, the well encountered 48 meters of net gas condensate pay in a quality reservoir. The well will be connected to the Harald platform and is expected to begin production before year-end through existing Harald and Tyra facilities. TotalEnergies operates the Danish Underground Consortium with a 43.2% working interest, alongside BlueNord (36.8%) and Nordsøfonden (20%).