TotalEnergies rejects accusations of complicity in war crimes, torture and enforced disappearances in Mozambique, the company said on Thursday following a complaint by a European rights group filed with French authorities. ...

Core Viewpoint - TotalEnergies has enhanced its deepwater presence in Nigeria by increasing its operated interest in block OPL257 from 40% to 90% through a deal with Conoil Producing, while Conoil acquires TotalEnergies' 40% stake in block OML136 [1][7] Group 1: Strategic Positioning - The acquisition consolidates TotalEnergies' control over block OPL257, which is strategically located next to PPL 261, where the Egina South field was discovered, making operatorship essential for evaluating resource development [2] - TotalEnergies plans to drill an appraisal well in OPL257 in 2026 to develop Egina South as a low-cost tie-back to the existing Egina FPSO, located approximately 30 kilometers away [3] Group 2: Operational Strategy - The deal is part of TotalEnergies' strategy to focus on operated gas and offshore oil assets in Nigeria, leveraging existing infrastructure to reduce costs and mitigate risks associated with declining investment and security challenges [4] - The transaction reflects a broader trend among international operators in Nigeria, who are streamlining portfolios while focusing on deepwater assets where project economics remain favorable [5] Group 3: Production and Community Engagement - TotalEnergies is a key hydrocarbon producer in Nigeria, with a production rate of 209,000 barrels of oil equivalent per day (boe/d) in 2024 across various operations [6] - The company emphasizes community engagement as part of its long-standing presence in Nigeria, alongside operating a large fuel distribution network [6]

Core Insights - TotalEnergies SE (NYSE:TTE) is recognized as one of the 12 Best European Dividend Stocks to Buy Now [1] - Piper Sandler has adjusted the price target for TotalEnergies to $70 from $69 while maintaining a Neutral rating [2] Financial Performance - In Q3 2025, TotalEnergies reported revenue of $43.8 billion, a decrease of over 7.5% compared to the same period last year [3] - Despite the revenue decline, the company achieved adjusted net income consistent with the previous year and generated $7.1 billion in cash flow, reflecting a 4% increase [3] - The Exploration & Production segment reported adjusted net operating income of $2.2 billion and generated $4.0 billion in cash flow, marking increases of 10% and 6% quarter over quarter [4] Strategic Developments - On November 17, TotalEnergies announced an agreement to acquire a 50% stake in EPH's flexible power generation platform in Western Europe, valued at €5.1 billion ($5.92 billion) [5] - This acquisition will more than double TotalEnergies' net gas-fired generation capacity, reinforcing its strategy to become a major integrated electricity provider in Europe [5]

Core Insights - TotalEnergies and Chevron are the leading candidates to acquire a 40% operating stake in Galp Energia's Mopane oil discovery offshore Namibia [1][3] - The Mopane field is estimated to contain at least 10 billion barrels of oil, attracting significant interest from global energy companies [2] - Namibia aims to become a top-15 global oil producer within the next decade, despite currently having no commercial oil production [2] Company Developments - Galp plans to select a partner for the Mopane project by the end of the year, with negotiations ongoing with a shortlist of preferred bidders [3] - TotalEnergies and Chevron both operate nearby oilfields in Namibia's Orange Basin, with TotalEnergies' Venus project potentially offering synergies despite development challenges [4] - TotalEnergies' success in Namibia would enhance Africa's role in its upstream portfolio, which constitutes up to 40% of its global oil and gas output [5]

Core Insights - TotalEnergies has signed agreements to acquire an additional 50% interest in offshore exploration block OPL 257, increasing its ownership to 90% [1] - The transaction enhances TotalEnergies' position in Nigeria's deepwater oil sector, aligning with its strategy to focus on operated offshore and gas assets [2] - Conoil will acquire TotalEnergies' 40% stake in block OML 136 as part of the deal [3] Company Strategy - TotalEnergies aims to leverage existing infrastructure around the Egina field for cost-effective production growth [2] - An appraisal well on OPL 257 is planned for 2026 to assess potential tiebacks to the Egina Floating Production Storage and Offloading (FPSO) facility [4] - The company remains committed to Nigeria, emphasizing its long-term investment strategy to support the country's energy growth [4] Recent Developments - TotalEnergies has achieved several milestones in Nigeria, including the start-up of Akpo West in early 2024 and the Ubeta gas project reaching FID in mid-2024 [4] - The company produced 209,000 barrels of oil equivalent per day in Nigeria in 2024 [4] - New exploration entries in deepwater blocks PPL 2000 and 2001 are planned for 2025 [4]

Core Insights - TotalEnergies has signed agreements with Conoil to acquire an additional 50% interest in oil exploration block OPL 257, increasing its total holding to 90% [1] Company Summary - The acquisition of the additional stake in OPL 257 signifies TotalEnergies' commitment to expanding its operations in Nigeria's oil sector [1] - This move enhances TotalEnergies' strategic position in the region, potentially leading to increased production and revenue [1]

Core Insights - TotalEnergies and Chevron are leading bidders for a 40% operating stake in the Mopane oil field in Namibia, as revealed by four sources [1] - Namibia is attracting oil companies due to significant discoveries suggesting it could become one of the world's top 15 oil producers within the next decade, despite currently not producing oil and gas [1] - The estimated resource volume of the Mopane oil field is at least 10 billion barrels, with Galp aiming to announce the winning bidder by the end of the year [1]

Core Viewpoint - France's anti-trust authority has fined TotalEnergies, Rubis, and EG Group a total of €187.5 million ($217.3 million) for anti-competitive practices that resulted in higher fuel prices in Corsica [1] Group 1: Investigation and Findings - The fine follows an investigation into agreements that restricted access to fuel depots in Corsica, initiated after a complaint from Ferrandi, a competing fuel distributor, in 2022 [2] - The investigation revealed that from 2016 to 2023, no other companies were permitted to use the fuel depots owned by TotalEnergies, Rubis, and EG Group [2] Group 2: Regulatory Statement - The regulator stated that the exclusive use of Corsican fuel depots by DPLC shareholders is anti-competitive and harms consumers by limiting competition [3] - TotalEnergies contends that the authority's findings lack "tangible evidence" of any anti-competitive impact on the island [3] Group 3: Company Response - TotalEnergies claims the decision is based solely on a 2016 contractual clause regarding access to the depots for shareholders, and that non-shareholders also had access to a fuel supply arrangement [4] - The company expressed regret that the authority did not acknowledge the absence of adverse effects on local distributors or consumers, highlighting its long-standing service in Corsica and recent price reductions [5] - TotalEnergies plans to appeal the decision in the Paris Court of Appeal, asserting that it has not engaged in anti-competitive practices [6]

Group 1 - TotalEnergies and Chevron are leading bidders for a 40% operating stake in Galp's Mopane field in Namibia [1]

Core Insights - The oil market is currently influenced by sanctions on Rosneft and Lukoil, leading to an accumulation of Russian crude at sea rather than a significant reduction in daily loadings [1][9] Group 1: TotalEnergies' Strategic Moves - TotalEnergies has agreed to acquire a 50% stake in Western European power generation assets from Czech billionaire Daniel Kretinsky [3] - The company will invest $6 billion in EPH's generation assets, which include gas-fired plants and battery systems across Italy, France, the Netherlands, and Britain, enhancing its generation portfolio to 19 GW [4] - This acquisition indicates a potential shift in strategy for European oil majors, moving away from renewables towards conventional energy generation [4] Group 2: Other Market Developments - Chevron is reportedly considering the purchase of international assets from Lukoil, part of a broader trend of investment in Russian oil assets [6] - ConocoPhillips announced a gas discovery offshore Australia, with a total net pay of 90 meters, targeting prospective resources of 260 billion cubic feet [6] - Tokyo Gas sold its upstream business in Louisiana for $255 million, indicating a focus on portfolio optimization [7] - BHP was found liable for the 2015 Mariana dam disaster, with a court ruling requiring it to pay $48 billion in damages [8] - ExxonMobil's joint venture with QatarEnergy is set to begin operations at the Golden Pass LNG plant in February, marking a significant addition to the US liquefaction capacity [8]