Core Viewpoint - TotalEnergies SE is expected to report a decline in quarterly earnings and revenues, indicating a challenging financial period compared to the previous year [1][2]. Earnings and Revenue Estimates - The anticipated earnings per share (EPS) for TotalEnergies is $1.88, reflecting a 12.2% decrease year-over-year [1]. - Analysts forecast revenues of $45.5 billion, which represents a 19.2% decline compared to the same period last year [1]. Analyst Revisions - The consensus EPS estimate has been revised 3.8% lower over the last 30 days, indicating a collective reevaluation by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions and have shown a strong correlation with short-term stock performance [3]. Key Metrics Projections - Analysts project that 'Combined Liquids and Gas Production per day - Total' will reach 2,537.58 KBOE/D, up from 2,461 KBOE/D in the same quarter last year [5]. - 'Total Refinery Throughput per day' is expected to be 1,451.27 thousand barrels of oil, compared to 1,424 thousand barrels of oil in the previous year [5]. - 'Gas Production per day - Total' is forecasted at 5,516.75 Mcf/D, an increase from 5,249 Mcf/D year-over-year [6]. - 'Liquids Production per day - Total' is projected to reach 1,523.00 thousand barrels of oil, up from 1,482 thousand barrels of oil in the same quarter last year [6]. Stock Performance - TotalEnergies shares have decreased by 9.1% over the past month, contrasting with a 4.8% decline in the Zacks S&P 500 composite [6]. - The company holds a Zacks Rank of 3 (Hold), suggesting it is expected to perform in line with the overall market in the near future [6].

Core Insights - The European white oil market is expected to grow from $685.4 million in 2023 to $1.59 billion by 2034, with a CAGR of 8.84% during the forecast period from 2024 to 2034 [1][8]. Market Overview - The white oil sector in Europe includes highly refined, mineral-based oils used in various industries such as pharmaceuticals, cosmetics, food processing, and industrial applications [2]. - The increasing demand for purity and safety in product formulations has made white oil essential for manufacturing lotions, ointments, lubricants, and plasticizers [2]. Innovations and Trends - Recent advancements in refining processes have led to white oils that meet stringent EU regulatory standards, including pharmaceutical and food-grade variants [3]. - There is a growing consumer awareness regarding sustainability and eco-friendly production practices, prompting European companies to adopt greener manufacturing methods [4]. Market Segmentation - The market is segmented by product type, grade type, application, functionality type, and country [9]. - Key product types include mineral white oil, light grade, heavy grade, synthetic white oil, and polyalphaolefin [9]. - Applications span healthcare, personal care, food and beverage, textiles, automotive, agriculture, and more [9]. Competitive Landscape - Major players in the market include ExxonMobil, Sonneborn LLC, Sasol, BP, FUCHS, H&R Group, Shell International, and Total Energies [3][10][16]. - The market has seen significant developments through business expansions, partnerships, collaborations, and joint ventures, with a focus on launching processing units to strengthen market positions [6]. Regulatory and Environmental Factors - The report discusses the regulatory landscape in Europe, including REACH compliance for cosmetic and personal care use and EU regulations for food-grade white oil [14]. - Sustainability and environmental impact considerations are becoming increasingly important, with a focus on sustainable sourcing of raw materials and eco-friendly alternatives [14].

Core Insights - Chevron Corporation (CVX) and TotalEnergies SE (TTE) have successfully commenced oil and gas production from the Ballymore project in the Gulf of America, expected to deliver up to 75,000 gross barrels of oil per day and 50 million cubic feet of gas daily [1][6] - The Ballymore project is part of Chevron's strategic goal to produce 300,000 net barrels per day of oil equivalent from the Gulf by 2026 [2] - The project utilizes existing infrastructure, enhancing cost efficiency and emissions reduction [6] Project Details - The Ballymore project holds an estimated 150 million barrels of oil equivalent in potentially recoverable resources over its lifespan [6] - Located in the Mississippi Canyon area, approximately 160 miles southeast of New Orleans, the field sits in water depths of about 6,600 feet [6] - Chevron operates the project with a 60% working interest, while TotalEnergies holds the remaining 40% [7] Strategic Goals - For TotalEnergies, the project increases its deepwater production capacity in the U.S. to over 75,000 barrels of oil equivalent per day, contributing to its goal of over 3% hydrocarbon production growth by 2025 [8] - The project aligns with TotalEnergies' integrated energy strategy, which includes oil, gas, LNG, and power developments [8] Recent Developments - Chevron has initiated production from several projects since 2024, including the industry-first Anchor project, which accesses reservoirs nearly 35,000 feet below the ocean's surface [3] - In January 2025, Chevron, in collaboration with Shell, started production from the Whale project, expected to involve up to 15 wells with an estimated peak production of 100,000 gross barrels of oil equivalent per day [4] - Chevron has also begun water injection at its Tahiti and Jack/St. Malo facilities to boost output, expecting to add about 175 million barrels of oil equivalent to the St. Malo field's gross ultimate recovery [5]

道达尔能源公司：将进行重组，期间不会裁员。 ...

Group 1 - TotalEnergies SE's stock price has remained relatively stable on a total return basis despite a double-digit decline in the broader market since the end of January [1] - The company is being analyzed by buy-side hedge professionals who focus on fundamental, income-oriented, long-term analysis across various sectors globally [1] Group 2 - The article expresses the author's personal opinions and indicates a beneficial long position in TotalEnergies shares, either through stock ownership or derivatives [2]

Core Viewpoint - TotalEnergies SE has signed a 15-year Heads of Agreement with Energia Natural Dominicana for the delivery of 400,000 tons of liquefied natural gas (LNG) annually starting in mid-2027, which will enhance the Dominican Republic's clean energy capacity [1][2]. Company Overview - TotalEnergies has an integrated position across the LNG value chain, including production, transportation, and access to over 20 million tons per annum (Mtpa) of regasification capacity in Europe [4]. - The company's global LNG portfolio is projected to reach 40 Mtpa in 2024, supported by interests in liquefaction plants worldwide and a large fleet of LNG tankers [5]. - TotalEnergies aims to increase the share of natural gas in its sales mix to nearly 50% by 2030, while also focusing on reducing carbon emissions and eliminating methane emissions associated with the gas value chain [6]. Market Dynamics - Global demand for LNG is expected to rise by approximately 60% by 2040, driven by economic growth in Asia and efforts to reduce emissions in heavy industries and transportation [7]. - The rising demand for LNG is likely to benefit companies like Cheniere Energy and BP, which are key players in the global LNG supply [8]. Competitor Insights - Cheniere Energy is expanding its Corpus Christi LNG plant in Texas, adding 3 Mtpa to its capacity, which will total 18 Mtpa [9]. - The Zacks Consensus Estimate for Cheniere's 2025 sales indicates a year-over-year increase of 20.2%, with an average earnings surprise of 74.4% over the past four quarters [10]. - BP aims to achieve a 25 Mtpa LNG portfolio by 2025, with a long-term earnings growth rate of 7.86% and a projected 24% year-over-year increase in 2025 sales [11]. Stock Performance - In the past month, TotalEnergies shares have decreased by 9.5%, compared to a 12.8% decline in the industry [13].

Core Insights - NextDecade Corporation has signed a long-term LNG supply agreement with TotalEnergies, committing to 1.5 million tons per annum for 20 years, indexed to the Henry Hub price [1] - The partnership with TotalEnergies is an extension of their successful collaboration on the Rio Grande LNG Phase 1 project [2] - The Rio Grande LNG project is the largest privately funded LNG project in Texas, benefiting from its location near the Permian Basin and Eagle Ford shale, ensuring a reliable natural gas supply [3] Group 1: Agreement Details - The recent agreement brings NextDecade's total long-term contracts for Train 4 to 4.6 million tons per annum, which includes contracts with companies like Saudi Aramco [4] - The commercial agreements are expected to facilitate a positive Final Investment Decision (FID) for Train 4, indicating strong support for the project's advancement [4] Group 2: Future Outlook - TotalEnergies currently exports over 10 million tons per annum from the U.S. and aims to increase this to 15 million tons per annum by 2030, with the new agreement aiding in this goal [5] - NextDecade is focusing on the financial and logistical preparations necessary to bring Train 4 online, which could significantly impact both the company and the broader LNG market [6]

Company Overview - TotalEnergies SE Sponsored ADR (TTE) is headquartered in Paris and operates in the Oils-Energy sector, with a year-to-date price change of -2.07% [3] - The company currently pays a dividend of $0.61 per share, resulting in a dividend yield of 4.73%, which is higher than the Oil and Gas - Refining and Marketing industry's yield of 4.25% and the S&P 500's yield of 1.78% [3] Dividend Analysis - TotalEnergies has an annualized dividend of $2.52, reflecting a 2.5% increase from the previous year [4] - Over the past five years, the company has increased its dividend three times, averaging an annual increase of 1.07% [4] - The current payout ratio is 31%, indicating that the company pays out 31% of its trailing 12-month earnings per share as dividends [4] Earnings Expectations - The Zacks Consensus Estimate for TotalEnergies' earnings in 2025 is projected at $8.24 per share, representing a year-over-year growth rate of 6.05% [5] Investment Considerations - TotalEnergies is considered a compelling investment opportunity due to its strong dividend profile and current Zacks Rank of 3 (Hold) [7] - The company is positioned as a more established option for income investors, contrasting with high-growth firms that typically do not offer dividends [6][7]

Core Insights - TotalEnergies SE (TTE) has completed the acquisition of VSB Group, enhancing its renewable energy portfolio in Germany, and has also acquired SN Power, focusing on hydropower projects in Africa [1][4] - The company is pursuing a multi-energy strategy, expanding its renewable capacity significantly through various acquisitions and projects [4][5] Group 1: Acquisitions - The acquisition of VSB Group strengthens TotalEnergies' integrated electricity business in Germany, which constitutes half of VSB's portfolio [2] - VSB Group adds 7 gigawatts (GW) of operational or under-construction capacity and over 15 GW in the pipeline, increasing TotalEnergies' renewable capacity in Europe to over 40 GW [3] - TotalEnergies has acquired SN Power, gaining a 28.3% stake in the Bujagali hydropower plant in Uganda and shares in additional projects in Malawi (360 MW) and Rwanda (206 MW) [4] - Contracts have been signed with RES for the acquisition of wind and solar projects in Alberta, totaling over 800 megawatts (MW) [5] Group 2: Renewable Energy Strategy - TotalEnergies aims to reach net zero by 2050 by developing a competitive portfolio that includes flexible assets and renewable energy sources [7] - The company plans to increase its gross renewable electricity generation capacity to 35 GW by 2025 and over 100 terawatt-hours of net electricity by 2030 [8] Group 3: Industry Context - Other companies in the industry, such as BP, Shell, and Equinor, are also expanding their renewable energy operations, with BP targeting a 60.6 GW renewables pipeline by the end of 2024 [10] - Shell has around 3.4 GW of renewable power generation capacity in operation and 4 GW under construction [11] - Equinor aims to reach 10-12 GW of renewable capacity by 2030 [12] Group 4: Stock Performance - TotalEnergies' stock has increased by 14% over the past three months, outperforming the industry average growth of 9.3% [13]

Financial Performance - In 2024, TotalEnergies reported IFRS net income of $15.8 billion and adjusted net income of $18.3 billion, with cash flow from operating activities of $30.9 billion[39]. - Net income attributable to TotalEnergies' shareholders was $15,758 million in 2024, down 26% from $21,384 million in 2023[62]. - Adjusted net income for 2024 was $18,264 million, a decrease of 21% compared to $23,176 million in 2023[63]. - Cash flow from operating activities was $30,854 million in 2024, a decrease of 24% from $40,679 million in 2023[64]. - The consolidated net income for TotalEnergies in 2024 was $16,031 million, a decrease from $21,510 million in 2023[150]. - Adjusted EBITDA for TotalEnergies in 2024 was $43,143 million, down from $50,030 million in 2023[151]. - Total revenues from sales in 2024 were $195,610 million, down from $218,945 million in 2023[152]. Segment Performance - The Exploration & Production segment generated adjusted net operating income of $10 billion, with a reserves replacement ratio of 157% and a proved reserves life index greater than 12 years[40]. - Integrated LNG segment achieved adjusted net operating income of $4.9 billion, with cash flow from operating activities of $5.2 billion, and launched several new projects including Marsa LNG in Oman and Ubeta in Nigeria[41]. - Integrated Power segment cash flow from operating activities was $3.0 billion, with net electricity production increasing 23% year-on-year to 41 TWh, contributing to a 17% reduction in average lifecycle carbon intensity[42]. - Downstream adjusted net operating income was $3.5 billion, down 44% from 2023 due to declining European refining margins, but cash flow from operating activities remained above $6 billion[43]. - Integrated Power adjusted net operating income increased to $2,173 million in 2024, up nearly 20% compared to $1,853 million in 2023[116]. - The adjusted net operating income for the Refining & Chemicals segment in 2024 was $2,160 million, a decrease of 54% from $4,654 million in 2023, attributed to lower refining margins[131]. Production and Sales - TotalEnergies' hydrocarbon production was 2,434 kboe/d in 2024, a decrease of 2% from 2,483 kboe/d in 2023[62]. - TotalEnergies expects more than 40 Mt of LNG sales in 2025, with average LNG selling prices anticipated to be above $10/Mbtu in the first quarter[48]. - For full-year 2024, LNG sales were down 10% compared to 2023, with adjusted net operating income dropping to $4,869 million, down 21% from $6,200 million in 2023[105]. - Total petroleum product sales in the Marketing & Services segment decreased by 2% in 2024 compared to 2023, with adjusted net operating income at $1,360 million, a 7% decline from $1,458 million[142]. Investments and Acquisitions - The company made acquisitions totaling $4,646 million in 2024, including interests in renewable energy and gas fields[64]. - TotalEnergies' net cash flow after organic investments was $12,088 million in 2024, down from $19,109 million in 2023, a decrease of 36.7%[161]. - Net investments in 2024 amounted to $17,829 million, with acquisitions net of asset sales at $1,406 million[153]. - The company reported a significant increase in acquisitions in Integrated LNG, totaling $1,417 million in 2024, compared to $1,253 million in 2023, an increase of 13.1%[155]. Financial Health and Ratios - Gearing at the end of 2024 was below 10%, indicating strong financial health for TotalEnergies[39]. - Return on equity (ROE) was 15.8% in 2024, down from 20.4% in 2023[60]. - The Gearing ratio for TotalEnergies rose to 8.3% in 2024 from 5.0% in 2023, indicating a higher leverage position[167]. - The net-debt-to-capital ratio increased to 8.3% in 2024 from 5.0% in 2023, primarily due to changes in net debt[183]. Dividends and Shareholder Returns - TotalEnergies plans to distribute a final 2024 dividend of €0.85/share, resulting in a 7% increase for the 2024 dividend to €3.22/share compared to 2023[44]. - TotalEnergies repurchased 120,463,232 shares in 2024, with a total cost of $7.33 billion, compared to 144,700,577 shares for $9.00 billion in 2023[182]. Market Conditions and Pricing - TotalEnergies' average liquids price realization increased by 1% to $77.1/b in 2024, while average gas price realization decreased by 16% to $5.54/Mbtu[66]. - The Brent price averaged $80.8/b in 2024, a decrease of 2% from $82.6/b in 2023[66]. - The European Refining Margin Marker (ERM) was $39.5 per ton in 2024, down from $71.0 per ton in 2023[128]. Strategic Changes and Sanctions - The company has ensured no further capital will be provided for new projects in Russia, adhering to European sanctions[208]. - TotalEnergies has suspended its rights and obligations under contracts with Arctic LNG 2 following US sanctions imposed on November 2, 2023[223]. - The company stopped producing lubricants in Russia by the end of May 2022 and announced the sale of these activities in March 2023[224].