TotalEnergies CEO: TotalEnergies did not pay French taxes last year because of a loss in the refining business
TotalEnergies, the French oil giant, did not pay corporate tax in France in 2017 because its operations there generated a loss in excess of 300 million euros (about 356.07 million dollars), said CEO Patrick Pouyanne on Friday. Pouyanne, in an interview, was asked how Total, who on…
Data shows that Yamal LNG has resumed transhipments in the vicinity of Murmansk.
LSEG data showed on 'Thursday that Yamal LNG has resumed ship to ship?liquefied gas operations near a port in the Arctic called Murmansk. This could mean a possible resumption for the first time of this winter of fuel exports into Asia. Ship-to-ship allows the company to optimize…
TotalEnergies CEO seeks clarification on EU ban on Russian gas
Patrick Pouyanne, the CEO of TotalEnergies, said on Wednesday that the company is asking both France's?government and EU Commission for clarification on an EU ban against importing liquefied gas from Russia. Pouyanne said in an analyst briefing that it appears that a European company is unable to market Russian LNG.
Low oil and gas prices affect TotalEnergies' profits, so the company has cut back on buybacks but maintained its growth plans.
TotalEnergies said on Wednesday that it would halve its share buybacks in the first quarter, but was committed to increasing its oil and gas reserve. Low oil and 'gas prices have negated the soaring profit of the fourth-quarter from refining fuels and proceeds from stake sales for renewable assets.
Mozambique and TotalEnergies launch $20 billion LNG project
TotalEnergies and Mozambique agreed to restart construction of the French energy giant's $20 billion "liquefied natural gas" project in the country on Thursday, even though they are still negotiating over the additional costs associated with delays. Construction on the project was…
TotalEnergies CEO anticipates EU mandate on sustainable aircraft fuel being dropped in the future
TotalEnergies CEO Patrick Pouyanne stated on Wednesday that he expects the European Union will water down its mandate in the future to include sustainable aviation fuel, similar to the recent decision of the bloc to drop the proposed ban on combustion-engine vehicles from 2035. Last year…
TotalEnergies Snags Exploration Nod Offshore Lebanon
French oil company TotalEnergies TTEF.PA has obtained government approval for a new exploration permit offshore Lebanon, it said on Friday.Total, which owns a 35% operating stake in the permit, will begin 3D seismic surveys on Block 8 with partners Eni ENI.MI (35%) and QatarEnergy…
TotalEnergies receives new exploration permit off the coast of Lebanon
TotalEnergies, a French oil company, said Friday that it had 'obtained approval from the government for a new permit to explore offshore Lebanon. Total, who owns 35% of the operating stake, will start 3D seismic surveys in Block 8? with partners Eni (35%), and QatarEnergy 30%. In…
Bousso: TotalEnergies' ROI-TotalEnergies power play shows Big Oil how to make energy transition work
TotalEnergies of France is betting heavily on renewables and power, positioning itself as a leader in the global energy demand wave. It also offers investors an alternative to its rivals who are doubling down on gas and oil. Since 2022, the strategies of European oil companies have been in a constant state of flux.
Bousso: TotalEnergies' ROI-TotalEnergies power play shows Big Oil how to make energy transition work
TotalEnergies of France is betting heavily on renewables and power, positioning itself as a leader in the global energy demand wave. It also offers investors an alternative to its rivals who are doubling down on gas and oil. Since 2022, the strategies of European oil companies have been in a constant state of flux.
TotalEnergies considers selling some Asian renewable energy assets
A spokesperson for TotalEnergies said that the company is considering selling some renewable energy assets located in Asia as a way to reduce its debt. Bloomberg first reported the news that the assets in question could be worth several hundred millions of dollars. The spokesperson confirmed this.
TotalEnergies CEO bullish on oil price despite slowing Chinese demand
ABU DHABI/PARIS - TotalEnergies CEO Patrick Pouyanne stated on Monday that the growth of Chinese oil demand has slowed as China transitions to a greener energy. He said, however, he remained optimistic in the long term due to increasing demand in India. They are moving towards a situation…
BP CEO predicts that non-OPEC+ oil supplies could decrease by April
BP Chief Executive Murray Auchincloss stated on Monday that oil supply growth outside OPEC+ may decline by April while demand remains strong. Auchincloss stated that "there is a supply rise outside of OPEC+." "We believe that will end in February, March and April. Auchincloss, who spoke at the ADIPEC Energy Conference in Abu Dhabi…
Source: Mozambique's TotalEnergies has requested that Exxon LNG put its decision on hold.
According to a source with knowledge of the situation, Exxon Mobil cannot make a final decision about a $30 billion project for liquefied gas in Mozambique named Rovuma LNG before TotalEnergies resumes its work on an adjacent project. TotalEnergies project affects Exxon because it includes shared facilities.
TotalEnergies says the Mozambique Liquefied Natural Gas project cost has risen to $4.5 billion
TotalEnergies told Mozambique in a letter that costs for its LNG project had risen $4.5 billion over the past four years. It also wants to extend its production agreement by 10 years. The French oil giant confirmed Saturday that it, along with its partners, had decided to lift the force majeure for this project.
In its third-quarter trading report, Total highlights higher sales and rising refining profit margins.
TotalEnergies, a French oil company, expects to see an increase in its third-quarter earnings as increased upstream production and improved crude refining margins will offset lower oil prices. The group announced this on Wednesday. In a trading update, it stated that despite a $10…
In its third-quarter trading report, Total highlights lower LNG sales and rising refining profits.
TotalEnergies, the French oil giant, expects to post a decrease in its third-quarter earnings, it announced on Wednesday. Asset sales and improved margins for refining oil failed to offset lower prices and reduced liquefied gas production. The European refinery margin of the company averaged $63.0 a ton during the third quarter.
TotalEnergies sells Norwegian oil assets Vaar Energi to reduce debt
TotalEnergies announced on Wednesday that it had agreed to divest its interests in mature oil fields offshore Norway. This is the latest step in an overall divestment plan aimed at reducing debt. French oil major announced that the transaction should close by the end of the fourth quarter this year.
Oil executives warn of increased costs due to Trump's tariffs
Two oil executives warned this week about the impact of tariffs on the cost of energy production and investment decisions. TotalEnergies' CEO Patrick Pouyanne said at the Energy Intelligence Forum held in London on February 2 that tariffs on metals were driving up costs for LNG projects.
Oil bosses are expecting the market surplus to diminish over time
Executives from oil majors, trading houses and oil companies said that the global oil market will tighten up in the medium-to-long term after recovering from its short-term weakness. Oil prices have been impacted by the rising output of OPEC+ – which is a grouping of countries that…