All articles tagged with #totalenergies
Originally Published 2 months ago — by Upstream Online
TotalEnergies has lifted the force majeure on its $20 billion Mozambique LNG project, signaling progress in the project’s development amidst the global energy transition.
Originally Published 1 year ago — by New York Post
TotalEnergies SE, a French energy company, has paused its $4.4 billion offshore wind farm project near the New York-New Jersey coastline following Donald Trump's election victory, citing potential policy shifts under his administration. The project, part of a larger $4.37 billion investment in the New York Bight, is in its early stages, with leasing rights recently obtained. The decision reflects concerns over Trump's opposition to offshore wind projects, although the company plans to revisit the project in four years, anticipating possible political changes.
Originally Published 2 years ago — by Reuters
French oil major TotalEnergies has launched a call for tenders for the annual production of 500,000 tonnes of "green" hydrogen as part of its efforts to decarbonize its European refineries. The company aims to replace "grey" hydrogen, which is carbon-intensive, with green hydrogen produced using renewable energy sources. The transition to green hydrogen is expected to reduce emissions by around five million metric tons of CO2 per year from TotalEnergies' refineries in Europe. The company is also partnering with Air Liquide to supply the Gonfreville refining platform with up to 15,000 tonnes of green and low-carbon hydrogen, reducing 150,000 metric tons of carbon emissions annually. TotalEnergies is seeking to boost the electrolyzer sector and take advantage of European regulations and incentives to achieve competitive prices for green hydrogen.
Originally Published 2 years ago — by Reuters
French energy group TotalEnergies announced that a drilling rig has arrived in Lebanon to begin offshore oil and gas exploration later this month. This follows a U.S.-brokered agreement that established a maritime border between Lebanese and Israeli waters. Lebanon hopes that gas and oil discoveries will help alleviate its severe economic crisis. TotalEnergies leads a consortium, including ENI and QatarEnergy, in the offshore project. The drilling of the exploration well in Block 9 is expected to start by the end of August, with potential positive results by the end of the year.
Originally Published 2 years ago — by CNBC
CNBC's Jim Cramer recommends buying shares of Stanley Black & Decker, citing their strong performance and undervalued stock price. He also expresses positive sentiments towards Ultra Clean Holdings but suggests investing in Linde instead. Cramer views Nikola as a meme stock with uncertain prospects. He praises Pioneer as a low-cost oil producer and recommends buying their shares. However, he advises caution with Allegro Microsystems due to its expensive valuation. Lastly, Cramer prefers Pioneer over TotalEnergies, considering it a better-run company.
Originally Published 2 years ago — by Yahoo Finance
NextDecade has signed framework agreements with Global Infrastructure Partners and TotalEnergies to enable the final investment decision for the Rio Grande LNG project Trains 1, 2 and 3 and to provide momentum for the further development of RGLNG Train 4 and Train 5. GIP would become a majority investor in Phase 1, and TotalEnergies would become a 16.67% investor, both subject to execution of definitive documentation and FID. TotalEnergies has also agreed to purchase 5.4 million tonnes per annum of LNG from Phase 1 for 20 years on a free on board basis indexed to Henry Hub and has options to purchase LNG from Train 4 and Train 5.
Originally Published 2 years ago — by Financial Times
TotalEnergies, the French energy company, faced a shareholder revolt over its climate goals, with 18% of investors voting against its emissions reduction targets. The company had set a goal to reduce its carbon emissions by 60% by 2050, but some investors argued that this was not ambitious enough and called for more aggressive targets in line with the Paris climate agreement. TotalEnergies has pledged to become a net-zero emissions company by 2050 and is investing heavily in renewable energy as part of its energy transition strategy.
Originally Published 2 years ago — by CNBC
Riot police in Paris fired tear gas at climate activists protesting outside the annual general meeting of TotalEnergies, who were denouncing the company's fossil fuel expansion. The activists, including 350.org, Friends of the Earth France and Scientists in Rebellion, had pledged to stop the meeting from taking place. Investors ultimately rejected an activist resolution calling on the company to align its climate targets with the Paris Agreement and commit to absolute carbon emission cuts by 2030. The resolution received 30% of the vote, up from 17% in 2020.
Originally Published 2 years ago — by Reuters
Riot police used pepper spray against climate activists protesting TotalEnergies' annual general meeting in Paris. Investors are expected to vote on a climate resolution demanding accelerated cuts to the company's greenhouse gas emissions. TotalEnergies' board opposes the resolution, which calls for steeper absolute emissions cuts by 2030 and inclusion of Scope 3 emissions. The company will instead urge investors to approve its own internal climate plan, focused on more modest emissions cuts from gases at its directly-owned facilities. Protesters sat across access roads, locking arms and legs to form a human barricade.
Originally Published 2 years ago — by OilPrice.com
TotalEnergies’ CEO, Patrick Pouyanné, has blamed the discount at which the company’s stock trades relative to its US competitors on its primary listing on a European stock market. However, the company has no plans to move its primary listing to the US. According to analysts, US supermajors ExxonMobil and Chevron are valued at around six times their cash flows, while TotalEnergies is valued at around 4x the cash flow, with UK-based BP and Shell valued even lower, at around 3 times their cash flows.
Originally Published 2 years ago — by The White House
Iraq has made significant progress in its energy sector with two major deals, including a historic agreement between the government and the Kurdistan Regional Government on the export of oil and management of revenues, paving the way for a multi-year budget and a hydrocarbons law. The government also reached a $27 billion deal with France's TotalEnergies to recapture and use flared gas in southern Iraq, increasing electricity supply, reducing harmful climate effects, and allowing for the export of gas products to new markets. Companies from Qatar, Saudi Arabia, and the United States will play important roles in this infrastructure project.
Originally Published 2 years ago — by Reuters
Iraq's oil minister, Hayan Abdel-Ghani, has said that talks with TotalEnergies to resolve issues in a $27bn energy deal have reached advanced stages. The deal, signed in 2021, would see TotalEnergies build four oil, gas and renewables projects in southern Iraq over 25 years. However, disputes over Iraq's demand for a 40% share in the project have caused delays. Abdel-Ghani did not comment on the share issue but said that Iraq is committed to maintaining its 220,000 bpd oil output cut in line with its quota under the latest OPEC+ agreement.