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TotalEnergies SE

TotalEnergies SE

$TTE
EuronextEnergy

264 stories mentioning TotalEnergies SEUpdated 2d ago

Shares fell amid a broad energy-sector selloff Monday as oil prices dropped on US-Iran ceasefire progress.

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Asia Markets

S&P 500, Nasdaq Rally, Middle East Peace Optimism Drive US Equity Futures Higher Pre-Bell

US equity futures were trending higher pre-bell Wednesday as the S&P 500 and the Nasdaq reached new all-time highs amid continued optimism for an end to the Middle East conflict.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.8% higher.The S&P 500 added 0.6% and the Nasdaq rose 1.2% to fresh intraday and closing highs, driven by an upswing in the technology sector.President Donald Trump said in a post on Truth Social that talks with Iran were "proceeding nicely." However, Iran threatened to respond to ceasefire violations after the US military carried out what it called "self-defense strikes" on Iranian missile launch sites and vessels around the Strait of Hormuz. Negotiations to end the war continue.Traders noted the latest round of earnings, with PDD (PDD) posting lower Q1 non-GAAP earnings amid higher revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.6% at $92.25 per barrel and US West Texas Intermediate crude 6% lower at $88.24 per barrel.The Richmond Fed manufacturing index for May is scheduled to be released at 10 am ET.In other world markets, Japan's Nikkei closed flat, Hong Kong's Hang Seng ended 1.1% lower, and China's Shanghai Composite finished 1.3% lower. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, Micron Technology (MU) stock was up 7.4% as the company's market capitalization reached $1 trillion for the first time. Fellow tech firms Marvell Technology (MRVL), Seagate Technology (STX), and Western Digital (WDC) all saw their shares rise as part of a broader tech rally. Marvell stock was up 6.1%, Seagate shares were higher by 5.4%, and Western Digital stock was up 5.5%.On the losing side, ExxonMobil (XOM) shares were down 2.1% after a Reuters report that Occidental Petroleum (OXY) was acquiring a 10% stake in the company's deepwater exploration block offshore Trinidad and Tobago. TotalEnergies (TTE) stock was 3.3% lower after a Bloomberg News report that the company is facing a dispute with Mozambique over about $2 billion in costs tied to delays at its liquefied natural gas project in the country. PDD shares were down 8.8% after the company reported its Q1 financial results.

Dow JonesNasdaq CompositeS&P 500$MRVL$MU$OXY$PDD$STX$TTE$WDC$XOM
Commodities

Market Chatter: Mozambique Disagrees With $2 Billion Cost Claim by TotalEnergies LNG Project

Mozambique's government disputes $2 billion of the total costs that French energy major TotalEnergies (TTE) says it has incurred along with partners during a years-long halt to the construction of their liquified natural gas project there, Bloomberg reported on Wednesday, citing an unnamed source.The dispute could push the project even further behind schedule. and delay the country's ambitions to become a major alternative LNG supplier.In October, TotalEnergies Chief Executive Officer Patrick Pouyanne in a letter to Mozambican President Daniel Chapo estimated the costs incurred at an even higher $4.5 billion, while the actual costs claimed were for more that $5 billion.UK-based consultancy Bayphase, which was hired by Mozambique and finalized its audit this month, could confirm only about $3 billion in costs incurred during the halt, without supporting documentation confirming the other $2 billion.The firm has asked TotalEnergies to respond to its final report within 15 days, the report said.An agreement on the costs is required before the government can approve an updated development plan for the project to move forward. In October, Pouyanne projected the total cost of the new facility at about $20.5 billion, the report said.The parties are in talks and could still reach a consensus, the report said.has reached out to TotalEnergies for a comment. The Mozambique Ministry of Mineral Resources and Energy could not be immediately reached.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$TTE
Commodities

TotalEnergies to Maintain Price Cap in France for Duration of Middle East Crisis

French energy major TotalEnergies (TTE) on Wednesday said it will continue with its fuel price-capping initiative across all its 3,300 service stations in the country for the entire duration of the Middle East crisis.For June, the company will cap petrol prices at 1.99 euros per litre and diesel at 2.25 euros, it said in a statement."In the event of favorable developments in international prices, the company undertakes to pass on without delay any downward fluctuations in diesel and gasoline prices," it added.For the company's electricity and gas customers in France, who have registered for the "fuel advantage" initiative, prices will be capped at 1.99 euros a litre throughout 2026 irrespective of the fuel type, the company said.About 825,000 customers have applied for the benefit so far, the statement said.

$TTE
Equities

Market Chatter: TotalEnergies LNG Project Faces Mozambique Challenge Over $2 Billion in Costs

TotalEnergies (TTE) is facing a dispute with Mozambique over about $2 billion in costs tied to delays at its liquefied natural gas project in the country, Bloomberg reported Wednesday, citing an unnamed person familiar with the matter.The disagreement follows an audit that was unable to verify part of the expenses claimed by TotalEnergies and its partners because supporting documentation was lacking, the report said.According to the report, agreement on the disputed costs is required before Mozambique can approve a revised development plan for the LNG project.TotalEnergies did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$TTE
Sectors

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks advanced late Friday afternoon, with the NYSE Energy Sector Index increasing 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.6%.The Philadelphia Oil Service Sector Index was shedding 0.2%, and the Dow Jones US Utilities Index was up 0.8%.Front-month West Texas Intermediate crude oil rose 0.4% to $96.77 a barrel, and the global benchmark Brent crude contract rose 1.3% to $103.93 a barrel. Henry Hub natural gas futures fell 3.6% to $2.91 per 1 million BTU.In sector news, Intercontinental Exchange (ICE) and OKX said Friday that they are collaborating to launch perpetual futures contracts tied to oil benchmarks. The new perpetual futures contracts will be underpinned by Intercontinental Exchange's Brent Crude and WTI Crude energy benchmarks, the companies said.In corporate news, American Resources' (AREC) minority holding ReElement Technologies formed a joint venture with Posco International to build rare earth and permanent magnet production facilities in the US, the company said Friday. American Resources shares were down 0.2%.Matador Resources (MTDR) shares added 1.2% after the company said Thursday it acquired 5,154 net undeveloped acres in the Delaware Basin for about $1.14 billion in a recent Bureau of Land Management oil and gas lease sale.TotalEnergies (TTE) is considering selling a 50% stake in a portfolio of European renewable energy assets, Bloomberg reported. TotalEnergies shares were down 0.7%.Frontline (FRO) shares fell 3.5% after the company reported Q1 adjusted earnings below analyst expectations.

$AREC$FRO$MTDR$TTE
Sectors

Sector Update: Energy Stocks Mixed Friday Afternoon

Energy stocks were mixed Friday afternoon, with the NYSE Energy Sector Index decreasing 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.2%.The Philadelphia Oil Service Sector Index was shedding 0.3%, and the Dow Jones US Utilities Index was up 0.6%.Front-month West Texas Intermediate crude oil was falling 1.3% to $95.07 a barrel, and the global benchmark Brent crude contract was decreasing 0.1% to $102.48 a barrel. Henry Hub natural gas futures fell 4.2% to $2.89 per 1 million BTU.In sector news, Intercontinental Exchange (ICE) and OKX said Friday that they are collaborating to launch perpetual futures contracts tied to oil benchmarks. The new perpetual futures contracts will be underpinned by Intercontinental Exchange's Brent Crude and WTI Crude energy benchmarks, the companies said.In corporate news, Matador Resources (MTDR) shares added 0.5% after the company said Thursday it acquired 5,154 net undeveloped acres in the Delaware Basin for about $1.14 billion in a recent Bureau of Land Management oil and gas lease sale.TotalEnergies (TTE) is considering selling a 50% stake in a portfolio of European renewable energy assets, Bloomberg reported. TotalEnergies shares were down 1.3%.Frontline (FRO) shares fell 3.3% after the company reported Q1 adjusted earnings below analyst expectations.

$FRO$MTDR$TTE
Commodities

Market Chatter: TotalEnergies Weighs Partial Sale of 1.2 GW European Renewables Portfolio

TotalEnergies (TTE) is exploring the sale of a 50% stake in a portfolio of European renewable energy assets as the French energy major seeks partners to help finance its green expansion strategy, Bloomberg reported, citing sources familiar with the matter.The company is reportedly working with advisers on a potential transaction involving about 1.2 gigawatts of solar and wind farms across France, Germany, Poland, and Spain, with asset values of several hundred million euros.The planned sale is part of TotalEnergies' strategy to divest 50% stakes in renewable projects once they become operational to improve returns on capital-intensive green investments.While rivals including Shell (SHEL) and BP (BP) have scaled back parts of their clean-energy ambitions following weaker-than-expected returns, TotalEnergies has continued to pursue a diversification strategy under which electricity is expected to account for about 20% of its energy output by 2030.TotalEnergies did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $90.86, Change: $-1.49, Percent Change: -1.61%

$BP$SHEL$TTE
Oil & Energy

Market Chatter: France Considers Imposing Windfall Tax Amid Energy Price Surge

The French government may impose a windfall tax on companies that benefited from the surge in energy prices brought about by the US-Iran war, Reuters reported Friday, citing Finance Minister Roland Lescure.The minister reportedly told a local radio station that companies that have made "exceptional" amounts may have to pay additional taxes, and that a debate on the matter will take place in the fall.If implemented, windfall taxes may primarily affect energy firms, such as TotalEnergies (TTE).TotalEnergies CEO, Patrick Pouyanne, warned last month that any tax surcharge by the government would lead to the company ending fuel price caps it has in place at retail outlets.The French oil supermajor has faced criticism after it reported a 51% year-over-year jump in its Q1 net income, local news agency RFI reported last week, strengthening the case for additional taxes advocated by several politicians.A number of environmental organizations and social justice coalitions have also urged the government to impose a permanent windfall tax on fossil fuel profits, according to environmental campaigner '350'. It cited TotalEnergies' "indecent" Q1 profits that have cost consumers billions of euros.TotalEnergies' Pouyanne will reportedly face the National Assembly finance committee on June 17 to answer questions.has reached out to the energy company to seek comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $90.96, Change: $-1.45, Percent Change: -1.57%

$TTE
Sectors

Sector Update: Energy Stocks Advance Premarket Friday

Energy stocks were advancing premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) up 0.4%.The United States Oil Fund (USO) was down 1.4% and The United States Natural Gas Fund (UNG) was 1.5% lower.Front-month US West Texas Intermediate crude oil was 0.3% higher at $96.66 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.9% to reach $103.49 per barrel, and natural gas futures were down 2.3% at $2.95 per 1 million British Thermal Units.TotalEnergies (TTE) is considering selling a 50% stake in a portfolio of European renewable energy assets, Bloomberg reported Friday, citing unnamed people familiar with the matter. TotalEnergies shares were down nearly 2% pre-bell.EU antitrust regulators will decide by June 26 whether to approve or further investigate Baker Hughes' (BKR) proposed $13.60 billion acquisition of Chart Industries (GTLS), Reuters reported, citing European Commission filing. Baker Hughes stock was 0.1% lower premarket.Frontline (FRO) shares were down 0.7% even after the company posted higher Q1 adjusted earnings and revenue.

$BKR$FRO$GTLS$TTE$UNG$USO$XLE
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday Buoyed by Robust Corporate Earnings Season

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5% and the actively traded Invesco QQQ Trust (QQQ) was 0.4% higher in Friday's premarket activity, buoyed by a robust corporate earnings season.US stock futures were also higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures advancing 0.4%, and Nasdaq futures gaining 0.2% before the start of regular trading.The final University of Michigan consumer sentiment reading for May and the leading indicators data for April will be released at 10 am ET.Kansas City Fed's services reading for May is slated for an 11 am ET release.Federal Reserve Governor Christopher Waller speaks on Friday.In premarket activity, bitcoin was down by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower, Ether ETF (EETH) retreated by 0.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.03%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 0.4%, and the iShares US Technology ETF (IYW) was 0.7% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 0.5%, while the iShares Semiconductor ETF (SOXX) rose by 0.7%.Workday (WDAY) shares were up more than 7% in premarket activity after the company's fiscal Q1 results overnight surpassed market expectations.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.2%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were flat.Rocket Lab (RKLB) stock was up more than 2% before the opening bell after the company received a $90 million US Space Force contract to design, build, and operate two satellites hosting the Heimdall space domain awareness payload.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 0.1% lower.Novo Nordisk (NVO) stock was down more than 1% premarket, after an almost similar fall in the previous session. The European Medicines Agency said it has recommended extending Wegovy's marketing authorization to include its oral formulation for weight management.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.5% lower.UBS (UBS) shares were down more than 1% pre-bell. The company said Thursday it expects the voluntary review of Credit Suisse's World War II operations to conclude by the end of the year.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.5%. The iShares US Consumer Staples ETF (IYK) was down 0.2%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced by 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) increased 0.4%.Yum China Holdings (YUMC) shares were down more than 1% pre-bell, continuing from a 1.3% decline at the prior close. The company said its KFC light-meal business, KPRO, now operates more than 300 sites in China.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.2%.TotalEnergies (TTE) stock was down more than 1% before the opening bell after Bloomberg reported the company is considering selling a 50% stake in a portfolio of European renewable energy assets.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 1.2% to $97.49 per barrel on the New York Mercantile Exchange. Natural gas was down 1.2% at $2.98 per 1 million British Thermal Units. The United States Oil Fund (USO) retreated by 0.7%, while the United States Natural Gas Fund (UNG) was 0.9% lower.Gold futures for May retreated by 0.5% to $4,521.20 an ounce on the Comex. Silver futures declined by 0.8% to $76.09 an ounce. SPDR Gold Shares (GLD) was down by 0.4%, and the iShares Silver Trust (SLV) fell by 1.3%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVO$PMR$QQQ$RKLB$RTH$SLV$SOXX$SPY$TTE$UBS$UNG$USO$VDC$VHT$VIS$WDAY$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD$YUMC
Sectors

Sector Update: Energy

Energy stocks were advancing premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) up 0.1%.The United States Oil Fund (USO) was down 0.9% and the United States Natural Gas Fund (UNG) was 1.8% lower.Front-month US West Texas Intermediate crude oil was 0.3% higher at $96.65 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.1% to $103.66 per barrel, and natural gas futures were down 1.2% at $2.98 per 1 million British Thermal Units.TotalEnergies (TTE) is considering selling a 50% stake in a portfolio of European renewable energy assets, Bloomberg reported Friday, citing unnamed people familiar with the matter. TotalEnergies shares were down more than 1% pre-bell.

$TTE
Equities

TotalEnergies Mulls Sale of 50% Stake in European Renewable Assets

TotalEnergies (TTE) is considering selling a 50% stake in a portfolio of European renewable energy assets, Bloomberg reported Friday, citing unnamed people familiar with the matter.The French energy major is working with advisers on a potential deal worth several hundred million euros, covering about 1.2 gigawatts of solar and wind farms across France, Germany, Poland, and Spain, sources told Bloomberg.TotalEnergies did not immediately reply to' request for comment.

$TTE
Oil & Energy

Update: Market Chatter: France Mulls Potential Tax on TotalEnergies' Excess Q1 Profits as Energy Prices Climb

France has not ruled out a potential exceptional tax on TotalEnergies (TTE) to redistribute excess profits earned by the French energy giant, amid soaring global energy prices, the country's Budget Minister David Amiel told Bloomberg in an interview on Sunday.Speaking with France's Radio J, Amiel said that "there is no taboo" around implementing such a tax, but added that, at least for now, the most effective way to ease pressure on household budgets was by "capping fuel prices at the pump."This comes following a strong Q1 performance by the company, prompting a boost to its dividends and stock buybacks, even as it struggles with disruption to its operations in the Persian Gulf.TotalEnergies CEO, Patrick Pouyanne, had warned last month that any such surcharge by the French government would lead to the company bringing an end to fuel price caps at its stations.While no decision has been made, Amiel said that "when there are exceptional profits, there should be exceptional redistribution," adding that while France was lucky to have Total, the company was just as lucky to have France.TotalEnergies responded to' request for comment, making reference to its May 7 statement which said that it was a private company and was taxed for its corporate business in France accordingly.Taxing the company for its overseas operations, it said, would equate "to ignoring the reality of international oil taxation and introducing double taxation, contrary to the principle of tax territoriality, a principle that the European Union and France consistently uphold in the international order,".(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$TTE
Oil & Energy

Market Chatter: France Mulls Potential Tax on TotalEnergies Excess Q1 Profits as Energy Prices Climb

France did not rule out a potential exceptional tax on TotalEnergies (TTE), aimed at taxing and redistributing the excess profits earned by the French energy giant, amid soaring global energy prices, the country's Budget Minister David Amiel told Bloomberg in an interview on Sunday.Speaking with France's Radio J, Amiel said that "there is no taboo" around implementing such a tax, but added that, at least for now, the most effective way to ease pressure on household budgets was by "capping fuel prices at the pump."This comes following a strong Q1 performance by the company, prompting a boost to its dividends and stock buybacks, even as it struggles with disruptions to its operations in the Persian Gulf.TotalEnergies CEO, Patrick Pouyanne, had warned last month that any such surcharge by the French government would lead to the company bringing an end to its fuel caps at its stations.While no decision has been made regarding this so far, Amiel has said that "when there are exceptional profits, there should be exceptional redistribution," adding that while France was lucky to have Total, the company was just as lucky to have France.TotalEnergies did not immediately respond to' request for a comment on this story.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$TTE
Commodities

Argentina to Grant Tax Benefits to Attract $25 Billion to Vaca Muerta Oil Project

Argentina will include the LLL Oil project, located in the country's Vaca Muerta shale area, in its RIGI incentive program, offering tax benefits and guarantees to attract $25 billion in investment, Horacio Marin, CEO of state oil company YPF said on Linkedin on Friday.Marin said the project was the largest ever included under RIGI and the country's largest-ever export-focused oil project.The YPF-owned project will generate more than $100 billion in export revenue over its lifetime, Marin said. Export revenue is estimated at $6 billion per year from 2032 from 240,000 barrels of daily output drawn from 1,152 wells."For years we said that Vaca Muerta was going to change the story of Argentine energy. Today we're entering this phase," Marin said."What lies ahead in the next two years is unprecedented. We will achieve it with passion and with our people who go the extra mile every day to turn huge challenges into concrete results," he said."We are building a company and an industry of world class."A Bloomberg article on the development said that the company would likely need to attract significant capital from banks and other companies most likely outside the country.It noted that the country has achieved a jump in oil output in recent years after this was stymied by years of regulatory shifts. However, it said that major international oil companies have given the country a wide berth of late.TotalEnergies (TTE), Exxon Mobil (XOM) and Equinor (EQNR) have all divested since President Javier Milei took office more than two years ago, Bloomberg noted.

$EQNR$TTE$XOM
Wire

Market Chatter: US Energy Secretary Expects China to Increase Oil Imports From US

US Secretary of Energy Chris Wright told CNBC on Friday he expects China to increase oil imports from the US because the two nations are natural partners and because China relies heavily on imports from the Middle East that have mostly been cut off for weeks.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $156.00, Change: $+4.25, Percent Change: +2.80%

$CVX$OXY$TTE$XOM
Commodities

ABL Unit to Support Mero 3, Mero 4 Projects Offshore Brazil as Marine Warranty Surveyor

Consultancy firm ABL Group's Brazilian unit will support offshore engineering and construction company Subsea7 in the transportation and installation of subsea risers and flowlines infrastructure for the Mero 3 and 4 developments in the Santos Basin offshore Brazil, it said on Thursday.The Mero 3 and Mero 4 projects involve the installation of subsea pipelines and subsea risers and flowlines infrastructure at the two deepwater oilfields at water depths between 1,850 and 2,100 meters, the company said in a statement.The work will also cover floating production, storage and offloading vessels Marechal Duque de Caxias and Alexandre de Gusmao.In its role as a Marine Warranty Surveyor, ABL Energy & Marine Consultants Brasil's scope of work will include reviews, engineering approvals, fleet suitability surveys and operational approvals, the statement said.It will also be responsible for the delivery of the same scope for the offshore transportation and installation work currently underway.Operations at the combined Mero field is conducted by a consortium including Petrobras (PBR), which holds a 38.6% stake in the field, Shell (SHEL) unit Shell Brasil with a 19.3% interest, TotalEnergies (TTE) with a 19.3% interest, CNPC 9.65%, CNOOC 9.65%, and Pre-Sal Petroleo 3.5%.Pre-Sal Petroleo will act as contract manager and the Brazilian government's representative in the non-contracted areas, the statement said.

$PBR$SHEL$TTE
Oil & Energy

TotalEnergies, EGAS Sign Egypt Offshore Exploration Agreement

TotalEnergies (TTE) and Egyptian Natural Gas signed an offshore exploration agreement covering a large area in northwestern Egypt, the companies said Wednesday.The memorandum of understanding creates a framework for technical cooperation, including preliminary exploration work and subsurface evaluation activities in the offshore region, according to the statement."We are pleased to launch this cooperation with EGAS, which reflects our shared ambition to further strengthen our partnership with the Arab Republic of Egypt," Nicola Mavilla, Senior Vice President at TotalEnergies said.He added that the partnership will support efforts to assess deep offshore exploration opportunities in Egypt.Price: $91.24, Change: $-0.52, Percent Change: -0.57%

$TTE
Equities

TotalEnergies Signs Offshore Exploration Deal With Egyptian Natural Gas

TotalEnergies (TTE) and Egyptian Natural Gas Holding have signed a memorandum of understanding on exploration activities in the north-western offshore of Egypt, the companies said Wednesday.The memorandum sets a framework for technical cooperation, including preliminary exploration and subsurface evaluation activities.

$TTE
Sectors

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Tuesday afternoon with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each adding 0.8%.The Philadelphia Oil Service Sector Index climbed 2.3%, and the Dow Jones US Utilities Index increased 0.3%.Oil prices rose as a faltering ceasefire between the US and Iran kept the Strait of Hormuz closed. Front-month West Texas Intermediate gained 4.3% to $102.28 a barrel, and global benchmark Brent advanced 3.4% to $107.78 a barrel.Henry Hub natural gas futures fell 2.4% to $2.84 per 1 million BTU.In corporate news, TotalEnergies (TTE) and its partners ConocoPhillips (COP) and QatarEnergy signed a memorandum of understanding Tuesday with Syrian Petroleum relating to the exploration of block 3, offshore Syria in the eastern Mediterranean Sea, the company said. TotalEnergies shares rose 1.3%, and ConocoPhillips added 2.2%.Ecopetrol (EC) said Tuesday its President Ricardo Roa has been charged with alleged violations of spending limits related to the country's 2022 presidential campaign following a probe by Colombia's General Prosecutor's Office. Ecopetrol shares were up 2.7%.Targa Resources (TRGP) is positioned for growth into 2026 and beyond, supported by strong Permian volume growth and potential upside from commodity price tailwinds, RBC Capital Markets said. Targa shares gained 1.1%.Eni (E) asked Morgan Stanley (MS) to help it raise funds from investors, including Apollo (APO), KKR (KKR), and Stonepeak, in a potential deal backed by its floating liquefied natural gas assets, Reuters reported. Eni shares rose 0.6%.

$COP$E$EC$TRGP$TTE

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