Totalenergies Se Stock Price, News & Analysis

TotalEnergies SE (TTE) announced share repurchases conducted from December 19 to December 23, 2022, totaling 5,200,200 shares. The transactions occurred at a daily weighted average purchase price of €58.23, amounting to approximately €302.79 million. Notable transactions included 541,693 shares at €57.01 on December 19 and 709,702 shares at €58.50 on December 21. These actions are part of the company's strategy following a shareholders' meeting held on May 25, 2022. For a detailed list of transactions, investors can visit the TotalEnergies website.

TotalEnergies (Euronext: TTE) and Eni have made a significant gas discovery at the Zeus-1 well in Block 6, offshore Cyprus. This latest find follows previous discoveries in 2018 and August 2022, reinforcing the area's potential. The Zeus-1 well encountered 105 meters of net gas pay, enhancing prospects for fast-track development. TotalEnergies holds a 50% interest in Block 6, alongside Eni. This discovery is expected to bolster the company's resource base and support sustainable energy goals.

TotalEnergies (TTE) has successfully acquired the Agua Marinha block in Brazil's Campos Basin, expanding its exploration footprint. This block spans 1,300 km² and is located approximately 140 km offshore. TotalEnergies holds a 30% participating interest alongside Petrobras, QatarEnergy, and Petronas Petróleo Brasil Ltda. This acquisition aligns with TotalEnergies’ strategy to focus on high-potential, low-carbon resource exploration. The company has been active in Brazil for over 40 years, aiming to boost its oil production significantly beyond 100,000 barrels of oil equivalent per day.

The Saudi Arabian Oil Company (Aramco) and TotalEnergies (TTE) have finalized the investment decision for a new petrochemical facility in Saudi Arabia's Jubail. The Amiral complex, with an investment of $11 billion, aims to leverage refinery off-gases and naphtha into higher-value chemicals. Construction is set to start in Q1 2023, expecting completion in 2027. The project will create approximately 7,000 jobs and contribute to building key manufacturing industries in the region.

TotalEnergies CEO Patrick Pouyanné met with Lebanon's Minister of Energy, Walid Fayad, to discuss ongoing activities in Lebanon, specifically drilling operations on Block 9. The operational team in Beirut is set to exceed 20 personnel by the end of March, with a tender for a drilling rig underway. Equipment pre-orders are also confirmed. The collaboration aims for a timely completion of drilling in 2023, alongside environmental studies scheduled for completion by June 2023.

TotalEnergies is withdrawing from its Russian assets while maintaining gas supply to Europe. It holds a 19.4% stake in Novatek but is currently unable to sell it due to shareholder agreements and sanctions. TotalEnergies has decided to withdraw its directors from Novatek's board, leading to an impairment loss of approximately $3.7 billion for Q4 2022. Consequently, it will no longer account for its stake in Novatek as significant influence, affecting its proved reserves of about 1.7 billion barrels but maintaining a production life of over 11 years.

TotalEnergies Foundation has allocated €200 million for the period 2023-2027 to support education and inclusion initiatives for vulnerable youth. In the recent call for partners, 26 projects benefiting nearly 55,000 young people were selected from 200 applications. The foundation aims to enhance job and education opportunities while supporting groups like those emerging from child protective services. Senior executives emphasized the importance of partnerships in amplifying social impact through innovative educational programs.

TotalEnergies and Air France-KLM have signed a 10-year Memorandum of Understanding (MoU) for the delivery of over 800,000 tonnes of Sustainable Aviation Fuel (SAF), beginning in 2023. This SAF, produced at TotalEnergies' biorefineries, will reduce CO2 emissions by at least 80% compared to fossil fuels. The partnership reinforces their long-standing collaboration aimed at decarbonizing the aviation sector. TotalEnergies plans to produce 1.5 million tonnes of SAF by 2030, further supporting environmental goals.

TotalEnergies has announced the sale of its affiliate, Total E&P Dunga GmbH, which holds a 60% interest in the Dunga oil field, to Oriental Sunrise Corp Ltd for $330 million. This transaction, pending regulatory approval, supports TotalEnergies' energy transition strategy. Additionally, the company plans to develop the Mirny wind project, the largest in Kazakhstan, featuring 200 wind turbines with a total capacity of 1 GW and a 600 MWh battery system. This project aims to provide low-carbon electricity to over 1 million people.