TotalEnergies also supports its professional customers in their transition to electric mobility by offering them services for the deployment and supervision of charging stations. In the next five years, Source will deploy high power charge points (of 150 kW and more) grouped in 300 "EV hubs," targeting a 20% market share. Charging hubs will be in prime locations in and around urban areas and powered by renewable energy provided by SSE and TotalEnergies. Per BloombergNEF's annual Long-Term Electric Vehicle O ...

Key Details of the Project Price Performance The Institute for Energy Economics and Financial Analysis has released a report indicating that the worldwide LNG market is about to experience an unparalleled surge of new liquefaction projects, starting late 2024. The Ruwais LNG project, started by ADNOC in June 2024, is situated in Abu Dhabi's Al Ruwais Industrial City. Two liquefaction trains with a combined capacity of 9.6 million tons per year (Mtpa) are part of the project, which is anticipated to be launc ...

Currently, TotalEnergies' portion of these mature assets produces around 7,500 barrels of oil equivalent per day (boe/d), 90% of which is gas. TotalEnergies continues with its strategic acquisitions in high-potential areas and sells non-core assets to achieve its long-term objective of improving production by focusing on the promising hydrocarbon-producing regions of the world. In first-quarter 2024, TTE acquired and sold assets worth $1.07 billion and $1.57 billion, respectively. These strategic initiative ...

Block STP02 is located nearly 37.2 miles (60 Km) off the coast of Principe. This block covers an area of 1,918.5 sq miles (4,969 sq km). Block STP02 is located adjacent to the Block STP01 license operated by TotalEnergies (55%) together with Sonangol (30%) and ANP-STP (15%). The encouraging 3D seismic data on adjacent Block STP01 has prompted TotalEnergies to continue its exploration and production in other areas of Sao Tome and Principe. TotalEnergies Focus on New Regions TotalEnergies has one of the best ...

TotalEnergies SE (TTE) , a shareholder of Offshore Wind One GmbH, has been awarded the maritime concession N-11.2 by the German Federal Network Agency. Concession N-11.2 (1.5 GW) is situated in the North Sea, nearly 74.6 miles (120 km) to the northwest of the German island of Heligoland. Its total size is around 60.2 square miles (156 square km). Thanks to the synergies between this new lease and the 2 GW concession N-12.1 obtained last year, TotalEnergies will be able to construct a 3.5 GW offshore wind hu ...

TotalEnergies SE (TTE) , along with the Nigerian National Petroleum Corporation Ltd ("NNPCL"), has taken the final investment decision for the development of the Ubeta gas field. TTE is the operator of the OML 58 onshore license in Nigeria with a 40% interest, while NNPCL holds the remaining 60%. The OML 58 license, situated in Rivers state and around 49.7 miles (80 km) northwest of Port Harcourt, includes the two producing fields — the Obagi oil field and the Ibewa gas and condensate field. The Obite treat ...

JHVEPhoto Q1 delivered solid execution with 1% production growth and a ~13% decrease in upstream opex/unit. During Q1 Total's headline production was stable vs Q4 at 2,461Kboed with a lower liquids output offset by higher gas volumes. However, I do note that the quarter saw the disposal of Total's remaining oil sands assets. Underlying production was actually up 1% QoQ, driven mainly by growing LNG output (higher gas QoQ) and ramp ups at Mero (Brazil) and Nigeria. Liquids mix remained roughly stable at 54%, ...

Core Viewpoint - TotalEnergies demonstrated strong financial performance in Q1, exceeding Wall Street expectations despite challenging market conditions, and is exploring a potential primary listing in the US to close valuation gaps with American peers [4][6][12]. Financial Performance - TotalEnergies reported an adjusted net income of $5.1 billion in Q1, slightly above the consensus estimate of $5 billion, despite a 43% decline in average gas prices [13]. - Cash flow from operations before working capital reached $8.2 billion, with operating cash flow at $2.2 billion for the quarter, leading to a net debt of $14.2 billion [13]. - The company’s exploration division achieved a core EBIT of $2.6 billion and cash flow of $4.5 billion, benefiting from low upstream production costs below $5 per barrel [14]. Production and Growth Outlook - TotalEnergies' total production has decreased by 18% since its peak in 2019, but there is a positive outlook for upstream production growth driven by LNG projects in North America, Qatar, and Mozambique [8]. - The company anticipates organic growth of 2% per year by 2030, supported by significant discoveries in Namibia [8]. Dividend and Share Buyback Strategy - TotalEnergies plans to increase its first interim dividend to €0.79 per share in 2024, a 7% increase from 2023, and has been authorized for a $2 billion share buyback in Q2 [16]. - The company expects to generate a cash flow from operations of $35 billion, allowing for at least an $8 billion buyback, with a distribution yield of 10% fully covered by an FCF yield above 11% [17]. Market Position and Valuation - The ongoing valuation gap between TotalEnergies and US peers like ExxonMobil and Chevron is highlighted, with the company’s P/E ratio expected to increase to $74 per share, supported by a potential US primary listing [4][17]. - The company’s management team and capital allocation priorities are viewed positively, contributing to its robust earnings potential [6][16].

Core Viewpoint - TotalEnergies SE has signed an agreement to acquire all shares of West Burton Energy for an enterprise value of £450 million ($576 million), pending regulatory approval [1]. Deal Details - The acquisition is expected to enhance TotalEnergies' flexible asset base, reducing intermittency and ensuring a steady power supply for customers [2]. Renewable Energy Focus - This agreement will increase TotalEnergies' global flexible power generation portfolio to approximately 7 GW of gross capacity, alongside its existing 23 GW of gross renewable capacity [3]. Energy Transition - TotalEnergies, along with other major oil and gas companies like ExxonMobil, BP, and Chevron, is taking steps to reduce emissions and meet clean energy targets [4]. Customer Support and Market Position - The deal will enable TotalEnergies to better serve its 300,000 UK gas and electricity customers by providing more accessible, economical, and sustainable energy, while also strengthening its trading position in the UK electricity and gas markets [9]. Asset Details - West Burton Energy operates the West Burton B gas-fired power plant in Nottinghamshire, England, with a total output of 1.3 GW, and includes a 49 MW battery storage system [10]. Future Capacity Needs - TotalEnergies anticipates a need for 700 MW of gas-based power generation capacity, given its renewable portfolio in the UK, which includes 1.1 GW of gross installed capacity and 4.5 GW under development [11]. Net Zero Emissions Strategy - The company aims to achieve net zero emissions by 2050 by developing a competitive portfolio that combines flexible assets with renewable energy sources [12]. Growth Projections - TotalEnergies is constructing and developing a portfolio of 35 GW by 2025, with over 20 GW already secured through long-term power purchase agreements [13]. Industry Trends - The global renewable energy market was valued at $1,056.27 billion in 2023 and is projected to grow at a CAGR of 8.6% through 2032, indicating a significant shift towards clean energy [14]. Share Performance - Over the past six months, TotalEnergies' shares have increased by 7.6%, outperforming the industry's growth of 6.6% [18].

TotalEnergies global LNG portfolio stands at 44 Mt/y in 2023 thanks to its interests in liquefaction plants in all geographies. The company continues to expand its LNG operation through acquisition, partnership and agreements. Its large fleet of LNG tankers and reserved capacity in several regasification terminals make it a perfect partner for the development of LNG projects globally. Expanding LNG operation is in sync with its long-term ambition to increase the share of natural gas in its sales mix to clos ...