Core Viewpoint - TotalEnergies SE is expected to report its third-quarter 2024 earnings on October 31, with a negative earnings surprise of 6.16% in the previous quarter [1] Earnings Expectations - The company anticipates production volume between 2.4-2.45 thousand barrels of oil equivalents per day, influenced by the start-up of the Anchor project in the Gulf of Mexico [3] - The Zacks Consensus Estimate for earnings is $1.84 per share, and for revenues, it is $57.03 billion, indicating a decline of 30.04% in earnings and 3.37% in revenues compared to the same quarter last year [3] Strategic Factors - TotalEnergies is actively making strategic acquisitions and divestments to align with long-term objectives, which is expected to enhance third-quarter performance [4] - The company is focusing on new oil and gas projects set to commence in 2024, which are anticipated to improve cash margins and overall performance [5] - TotalEnergies is strengthening its position in natural gas, liquefied natural gas, and low-carbon electricity, contributing positively to earnings [5] Competitive Landscape - The company faces competition from major oil and gas players like ExxonMobil, Shell, and Chevron, which complicates the acquisition of hydrocarbon assets and licenses [6] - The competitive environment is intensified as these operators also engage in renewable energy initiatives [6]

TotalEnergies SE (TTE) announced that it has signed an agreement with RWE to acquire a 50% stake in two offshore wind projects in the North Sea. With this new alliance, TotalEnergies will be able to supply green electrons to help decarbonize the nation's electricity and industry, furthering RWE's integrated growth in the largest electricity market in Europe and Germany. Key Highlights of TTE's New Deal The two projects, N-9.1 of nearly 2 gigawatt (GW) and N-9.2 of 2 GW, located 68 miles (110 km) off the Ger ...

Core Viewpoint - TotalEnergies SE (TTE) has unveiled its long-term strategy focusing on a balanced multienergy approach, emphasizing the transition towards renewable energy sources while maintaining its presence in oil and gas markets [1] Group 1: Energy Production and Strategy - TotalEnergies plans to increase global energy production by 4% annually from 2024 to 2030, primarily driven by LNG, reflecting a 100 basis point improvement from previous forecasts [2] - The company has mitigated its LNG exposure to spot gas prices by securing long-term sales contracts indexed to Brent and enhancing upstream gas production in the U.S. through low-cost acquisitions [3] Group 2: Clean Energy Initiatives - TTE aims for electricity generation to exceed 100 TWh by 2030, with 70% from renewable sources and 30% from flexible-based generation [4] - The company is committed to achieving net-zero carbon emissions by 2050, with a development portfolio of 35 GW by 2025, of which over 20 GW has long-term power purchase agreements [5] Group 3: Financial Outlook and Investments - TotalEnergies plans to invest $16-$18 billion annually from 2025 to 2030, allocating nearly $5 billion to low-carbon energies, with the flexibility to reduce investments by $2 billion in case of commodity price drops [6] - The company expects to generate over $10 billion in free cash flow by 2030, which will be used for share buybacks and dividend payments [7] Group 4: Shareholder Returns - TTE intends to repurchase $8 billion in shares in 2024 and $2 billion quarterly thereafter, contingent on market conditions, while planning to increase dividends per share by at least 5% based on 2024 buybacks [8] Group 5: Industry Trends - The energy sector is increasingly focused on emission reduction, with companies like ExxonMobil, BP, and Chevron also adopting measures to lower their carbon footprints [9] - ExxonMobil aims for net-zero Scope 1 and 2 emissions by 2050 through electrification and technology upgrades [10] - BP's acquisition of Lightsource BP highlights its commitment to expanding its low-carbon energy footprint, while Chevron targets a 57% reduction in methane emissions by 2028 [11] Group 6: Market Performance - TotalEnergies shares have increased by 11.5% over the past year, outperforming the industry growth of 10.4% [12]

Core Viewpoint - TotalEnergies SE has commenced commercial operations of two utility-scale solar farms, Danish Fields and Cottonwood, in Texas, contributing to its renewable energy portfolio and decarbonization goals [1][2]. Group 1: Project Details - Danish Fields features 1.4 million photovoltaic panels with a peak capacity of 720 MWp, making it TotalEnergies' largest solar farm in the U.S. It includes a 225 MWh battery storage system [3]. - Cottonwood has a capacity of 455 MWp with over 847,000 photovoltaic panels and will also feature a 225 MWh battery storage facility, expected to be operational in 2025 [5]. - Both projects have long-term Corporate Power Purchase Agreements (PPAs) with industry players, ensuring a stable revenue stream and supporting TotalEnergies' decarbonization efforts [4][5]. Group 2: Renewable Energy Strategy - TotalEnergies aims to achieve a gross renewable capacity of 10 GW by 2025 and over 25 GW by 2030 in the U.S., alongside a recent acquisition of three gas-fired power plants adding 1.5 GW of flexible power production capacity [6]. - The company is focused on developing a competitive portfolio that combines renewable energy sources with flexible assets to provide reliable electricity [7]. - As of the end of 2023, TotalEnergies had an installed gross renewable power generating capacity of 22 GW, with plans to produce 35 GW by 2025 and over 100 TWh of net electricity by 2030 [8]. Group 3: Industry Context - Other major companies like BP, ExxonMobil, and Equinor are also increasing their focus on renewable energy and emissions reduction, with BP targeting 50 GW of net renewable capacity by 2030 [9]. - ExxonMobil plans significant investments in emission-reduction projects and aims for net-zero emissions by 2050 [10]. - Equinor is actively investing in renewable energy, expecting to achieve a production capacity of 4-6 GW by 2026 and 12-16 GW by 2035 [11].

TotalEnergies SE (TTE) , along with its partners Equinor ASA (EQNR) and Shell plc (SHEL) , announced the completion of the carbon dioxide (CO2) receiving and storage facilities of Northern Lights Joint-Venture in Norway. Prospects for TTE's Project The facilities include a subsea injection facility for safe and permanent CO2 storage in a reservoir 2,600 meters below the seabed, a terminal to accept CO2 cargos, and a nearly 62-mile (100-kilometer) subsea pipeline to deliver CO2 to the offshore storage site. ...

Jeremy Poland TotalEnergies SE (NYSE:TTE) is so far staying consistent with the plan they gave shareholders before the fiscal year really got going. The last article mentioned that some big projects were heading towards production. Those remain largely on schedule. As a diversified growth and income play, this company remains a darn good idea. The Strategy The strategy does involve some diversification into renewables and even power generation. This company appears to have a pretty tight profit handle on th ...

Core Viewpoint - TotalEnergies SE has entered a joint venture with Adani Green Energy Limited to develop a 1,150 MWac solar portfolio in Gujarat, India, with an equity investment of $444 million from TotalEnergies [1][2][3]. Group 1: Joint Venture Details - The joint venture will be equally owned by TotalEnergies and Adani Green Energy Limited, focusing on a solar portfolio in Khavda, Gujarat [1]. - Adani Green will supply assets to the joint venture, while TotalEnergies will provide financing [2]. - The electricity generated will be sold through power purchase agreements with the Solar Energy Corporation of India and on the wholesale market [3]. Group 2: Growth Prospects in India - India's renewable energy market is expected to add 25 GW of capacity in 2024, positioning it as the second-largest renewables growth market in Asia [4]. - India aims to achieve 500 GW of installed renewable energy capacity and 50% of cumulative electric power from clean sources by 2030 [4]. - TotalEnergies currently holds approximately 19.75% of Adani Green's capital and has previously formed joint ventures with Adani Green for renewable projects [5]. Group 3: TotalEnergies' Renewable Energy Strategy - TotalEnergies is focused on expanding its renewable energy portfolio to reach net zero by 2050, combining various energy sources [7]. - The company had an installed gross renewable power capacity of 22 GW at the end of 2023, with plans to increase this to 35 GW by 2025 and over 100 TWh of net electricity by 2030 [8]. - The recent joint venture is expected to strengthen TotalEnergies' position in the growing renewable energy market [8]. Group 4: Industry Context - Other companies like BP, ExxonMobil, and Equinor are also increasing their renewable energy operations and reducing emissions [9][11][12]. - BP plans to develop 50 GW of net renewable energy capacity by 2030 and reduce emissions from operations by 30-35% [9]. - ExxonMobil aims for net-zero emissions by 2050 and is investing in emission-reduction projects [11].

Financial Data and Key Metrics Changes - TotalEnergies reported an adjusted net income of $4.7 billion for Q2 2024, with the first half of 2024 totaling close to $10 billion [23] - The company generated $7.8 billion of cash flow during Q2 2024 and close to $16 billion for the first half of the year [23] - Return on capital employed (ROCE) was approximately 16.6%, maintaining strong profitability [23] - The average Brent price increased by 2% quarter-over-quarter to $85 per barrel, while the average LNG price decreased by 3% [23] Business Line Data and Key Metrics Changes - Exploration and production reported an adjusted net operating income of $2.7 billion and cash flow of $4.4 billion, with upstream operating expenses per barrel below $5 [8] - LNG sales decreased by 18% quarter-over-quarter due to lower spot purchases amid reduced demand in Europe [9] - Downstream refining and chemicals reported an adjusted net operating income of $640 million, reflecting a sharp decrease in global refining margins [11] - Marketing & Services saw adjusted net operating income increase to $380 million, with cash flow rising by 38% sequentially to $660 million [29] Market Data and Key Metrics Changes - Hydrocarbon production was 2.44 million barrels of oil equivalent per day in Q2 2024, close to the high end of guidance [24] - LNG production increased by 1% quarter-over-quarter, aided by entry into the Dorado upstream gas field in the U.S. [26] - The European refining margin market decreased by 37% quarter-over-quarter, impacted by low diesel demand and market normalization [23][11] Company Strategy and Development Direction - The company is focused on a balanced transition strategy, emphasizing growth in oil and gas alongside integrated power [19] - TotalEnergies aims to grow upstream production by 2% to 3% annually over the next five years while enhancing free cash flow generation [20] - The company is actively pursuing M&A opportunities, with $1.9 billion in divestments and $1.6 billion in acquisitions in the first half of 2024 [12] - TotalEnergies is expanding its renewable energy portfolio, including battery storage projects and offshore wind initiatives [4] Management's Comments on Operating Environment and Future Outlook - Management anticipates stable production levels for Q3 2024, with expectations of starting up new projects in the U.S. Gulf of Mexico [24] - The company expects average LNG selling prices to be around $10 per million BTU in Q3 2024, reflecting recent price evolutions [10] - Management noted that refining margins are returning to normal levels after exceptional years, with expectations for improved margins during the summer driving season [58] Other Important Information - The board maintained the second interim dividend at €0.79 per share, a nearly 7% year-over-year increase [7] - The company executed $2 billion in buybacks during Q2 2024, with an additional $2 billion authorized for Q3 2024 [7] - TotalEnergies issued senior bonds totaling €4.25 billion in the U.S. market, prioritizing low maturities [14] Q&A Session Summary Question: Can you provide insights on cash flow and LNG contracts? - Management indicated that refiners need to adapt to lower margins and emphasized ongoing negotiations for new LNG contracts [36] Question: What is the status of the Suriname project? - Management confirmed that Suriname is progressing quickly, with significant cash flow expected from the project starting in 2028 [63][64] Question: How does the company view the impact of French politics? - Management expressed confidence that current political discussions would not fundamentally affect the company's interests [46][69] Question: What are the growth plans in Malaysia? - Management clarified that the gas revenues from the Malaysian license are linked to LNG pricing, integrating into the LNG value chain [48] Question: What is the outlook for Chinese oil demand? - Management expects global oil demand to continue being driven by China, with a reasonable assumption of 1% annual growth [116] Question: Can you comment on the competitiveness of renewable opportunities? - Management noted that the integration of renewable assets with flexible capacity is crucial for profitability in the renewable sector [120]

The bottom line declined 0.5% from the year-ago figure of $1.99 (€1.84). The year-over-year decline was due to lower refining margins. Total revenues for the second quarter were $53.7 billion, which lagged the year-ago reported revenues of $56.3 billion by 4.5%. In the second quarter, hydrocarbon production averaged 2,441 thousand barrels of oil equivalent per day, down 1% year over year. The decline was due to a planned maintenance outage. The hydrocarbon production volumes were near the upper end of the g ...

炼油和化工 – 不及预期：受欧洲炼油利润率环比下降 37% 的影响，公司炼油和化工部门调整后净营业收入为 6.39 亿 美元，环比下降 34%，同比下降 36%，相较于预期的 7.92 亿美元降低了 19%。 6 SusallWave FIN-ESG Data Service Disclaimer: Please read these terms and conditions below carefully and confirm your agreement and acceptance with these terms before using SusallWave FIN- ESG Data Service. SEBI Research Analyst Registration Number: INH000002590 25 Jul 2024 道达尔能源(TTE FP)：业绩稳健；回购延长；股息令人失望 scott.darling@htisec.com axel.leven@htisec.com [Table_summary] 事件 点评 勘探与生产 – 符合预期：由于"生产设施可用性高"且油价上涨，该 ...