Core Viewpoint - TotalEnergies has agreed to acquire a 42.5% operated interest in Namibia's PEL104 offshore exploration licence, enhancing its position in the region as an operator [1][2]. Group 1: Acquisition Details - The acquisition involves TotalEnergies purchasing a 42.5% interest from Eight Offshore Investments Holdings and Maravilla Oil & Gas, making it the operator of the PEL104 licence, which covers approximately 11,000 km² in the Lüderitz basin [1][2]. - Following the transaction, the ownership structure will be TotalEnergies (42.5%), Namcor (10%), and Eight (5%) [2]. Group 2: Strategic Importance - TotalEnergies aims to strengthen its position in Namibia, having previously acquired a 40% operated interest in the PEL83 licence in December [2]. - The company is focused on developing the Venus and Mopane discoveries while expanding its portfolio in Namibia to unlock further value for the country and stakeholders [3]. Group 3: Company Background - TotalEnergies has been operating in Namibia since 1964 and currently employs 55 people, being the fourth-largest fuel distributor in the country with 43 service stations [3]. - The company is also pursuing local opportunities for low-carbon energy projects as part of its multi-energy strategy, operating in approximately 120 countries globally [4].

Core Viewpoint - TotalEnergies reported disappointing second-quarter earnings, with a significant decline in net income and a drop in stock price following the announcement [1][4]. Financial Performance - TotalEnergies' net revenue for the second quarter was slightly under $44.7 billion, down from nearly $49.2 billion in the same period of 2024 [2]. - The company's non-GAAP adjusted net income fell by 21% year over year to $3.6 billion, translating to $1.57 per share, which was below the consensus estimate of $1.67 [4]. Market Conditions - The company experienced a general decline in oil prices, which fell by 10% during the quarter [5]. - TotalEnergies expressed a bearish outlook for the third quarter, citing volatility in oil prices due to geopolitical and economic factors, along with an "abundant" supply in the market [5]. Investment Strategy - TotalEnergies plans to spend a net amount of $17 billion to $17.5 billion on investments throughout the year but did not provide specific revenue or profitability guidance in its earnings release [6].