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TotalEnergies SE

TotalEnergies SE

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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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Equities

Equinor Begins Supplying Gas to Troll A Platform From Phase 3 Project

Equinor (EQNR) said Tuesday it started supplying additional natural gas to the Troll A platform from the second stage of the Troll Phase 3 subsea project on Aug. 22, ahead of its year-end start date.The 12.3 billion Norwegian kroner ($1.32 billion) project accelerates the extraction of 55 billion standard cubic meters of gas from the Troll West reservoir, the company said.A drilling campaign of eight wells was completed in five and a half months for the development, Equinor said.Petoro holds a 55.93% stake in the partnership, while operator Equinor owns 30.55%, Shell (SHEL) holds 8.19%, TotalEnergies (TTE) maintains 3.69%, and ConocoPhillips (COP) has 1.64%, it said.

$COP$EQNR$SHEL$TTE
Sectors

Sector Update: Energy Stocks Decline Monday Afternoon

Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each falling 1.2%.The Philadelphia Oil Service Sector Index dropped 2.6%, and the Dow Jones US Utilities Index was up 0.9%.Front-month West Texas Intermediate crude oil fell 2% to $85.31 a barrel, and the global benchmark Brent crude contract declined 1.8% to $92.68 a barrel. Henry Hub natural gas futures increased 0.1% to $2.78 per 1 million BTU.In corporate news, ExxonMobil (XOM) plans to expand automated drilling technology to half of its Permian Basin rig fleet by 2028 as it seeks to improve efficiency and increase oil production, Reuters reported Monday, citing an executive. The oil giant currently operates two automated rigs in the Permian and plans to raise that share to 25% next year, using robotics to reduce workers' exposure to high-risk areas and accelerate drilling, the report said, citing Bart Cahir, Exxon's senior vice president of unconventionals. Exxon shares were down 1.4%.Shell (SHEL) has drawn interest from potential bidders including ExxonMobil, LyondellBasell (LYB) and Apollo Global Management (APO) for its US chemicals assets, which could fetch up to $8 billion, the Financial Times reported. Shell shares decreased 0.5%.Eni (E) is expanding its investment in nuclear fusion, targeting a commercial fusion plant in Europe by the early 2040s or sooner, the Financial Times reported. Eni shares were down 2.2%.TotalEnergies (TTE) will invest in the Fujairah oil export pipeline expansion in Abu Dhabi and continue investing in the Middle East despite ongoing conflict in the region, Reuters reported Monday, citing CEO Patrick Pouyanne at the ONS energy conference in Norway. TotalEnergies shares were shedding 0.8%.

$E$SHEL$TTE$XOM
Oil & Energy

Market Chatter: TotalEnergies to Invest in Doubling Abu Dhabi's Fujairah Oil Pipeline Capacity

TotalEnergies SE (TTE) plans to invest in doubling the capacity of Abu Dhabi's Fujairah oil export pipeline as it seeks alternatives to shipping along the Strait of Hormuz, chief executive officer Patrick Pouyanne said at an energy conference in Norway on Monday, according to a Reuters report.Pouyanne said TotalEnergies would continue investing in the Middle East despite the ongoing war with Iran, with the company looking to put equity into infrastructure capable of bypassing the Strait of Hormuz.He noted that, at present, TotalEnergies is probably the largest trader of oil from Iraq or Qatar, and it's clear to me that I need to put a certain amount of equity into an alternative route. TotalEnergies also plans to become a partner in a pipeline running from Baghdad to Syria and to invest in the expansion of the Fujairah pipeline in Abu Dhabi.All of this comes amid the Strait of Hormuz, which typically handled one-fifth of global oil flows, has been paralyzed since the war between the US and Iran began over five months ago. 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.)Price: $88.73, Change: $-1.16, Percent Change: -1.29%

$TTE
Sectors

Sector Update: Energy Stocks Decline Premarket Monday

Energy stocks were declining premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% lower.The United States Oil Fund (USO) was down 1.3% and the United States Natural Gas Fund (UNG) was 3.3% higher.Front-month US West Texas Intermediate crude oil was 1.8% lower at $85.51 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.3% to reach $93.17 per barrel, and natural gas futures were up 2.2% at $2.83 per 1 million British Thermal Units.TotalEnergies (TTE) will invest in the Fujairah oil export pipeline expansion in Abu Dhabi and continue investing in the Middle East despite ongoing conflict in the region, Reuters reported, citing Chief Executive Patrick Pouyanne at the ONS energy conference in Norway. TotalEnergies shares were down more than 1% pre-bell.Eni (E) is expanding its investment in nuclear fusion, targeting a commercial fusion plant in Europe by the early 2040s or sooner, Financial Times reported. Shares of Eni were down more than 1% premarket.Equinor (EQNR) and Uniper signed a 15-year agreement under which Equinor will supply more than 2.8 billion cubic meters of natural gas annually to Germany, the companies said. Equinor stock was 0.8% lower premarket.

$E$EQNR$TTE$UNG$USO$XLE
Sectors

Sector Update: Energy

Energy stocks were declining premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% lower.The United States Oil Fund (USO) was down 1.3% and the United States Natural Gas Fund (UNG) was 3.6% higher.Front-month US West Texas Intermediate crude oil was 1.7% lower at $85.57 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.3% to $93.14 per barrel, and natural gas futures were up 1.7% at $2.82 per 1 million British Thermal Units.TotalEnergies (TTE) will invest in the Fujairah oil export pipeline expansion in Abu Dhabi and continue investing in the Middle East despite ongoing conflict in the region, Reuters reported, citing Chief Executive Patrick Pouyanne at the ONS energy conference in Norway. TotalEnergies shares were down more than 1% pre-bell.

$TTE
Asia Markets

Update: US-Canada Tariff Situation Nudges US Equity Futures Lower Pre-Bell

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were lower pre-bell Monday as traders assessed the tariff situation between the US and Canada after trade negotiations between the two countries failed.Dow Jones Industrial Average futures were flat, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.5% lower.Trade talks between the US and Canada failed and the US on Saturday imposed 50% tariffs on around $20 billion worth of imports from its neighbor in the north. Canadian Prime Minister Mark Carney said he planned to retaliate with tariffs starting Sept. 8. "Canada wants the benefits of being a State, without being one!!!" President Donald Trump said in a post Sunday on Truth Social.US Treasury Secretary Scott Bessent is set to give details at 2 pm ET on Monday about "economic D-Day" against Iran, which would be "greatest financial offensive ever," Reuters reported, citing an opinion piece by the official published in Financial Times on Sunday.Traders digested the latest round of earnings, with PDD (PDD) reporting lower Q2 non-GAAP earnings and higher revenue.Nvidia (NVDA) and CrowdStrike (CRWD), among others, are expected to report financial results this week.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.4% at $91.38 per barrel and US West Texas Intermediate crude 1.8% lower at $85.53 per barrel.The Chicago Fed national activity index for July came in at negative 0.08, compared with 0.06 previously and expectations for a reading of negative 0.05 in a survey compiled by Bloomberg.In other world markets, Japan's Nikkei closed 0.7% lower, Hong Kong's Hang Seng ended 1.9% lower, and China's Shanghai Composite finished 0.6% lower. Meanwhile, the UK's FTSE 100 and Germany's DAX index were flat in Europe's early afternoon session.In equities, PDD shares rose 3.2% after the company posted better-than-expected Q2 non-GAAP earnings. United Airlines (UAL) stock was up 1.4% after a CNBC report on Sunday citing Chief Executive Scott Kirby that the company is looking to expand its footprint internationally and at the John F. Kennedy International Airport in New York. InterContinental Hotels Group (IHG) shares were 2% higher after the company said it signed a 14-hotel portfolio conversion deal with GCP Hospitality, a unit of Gaw Capital Group.On the losing side, Alibaba Group (BABA) stock was down 2% after the company said Sunday it priced a placement 710 million new shares at 112.70 Hong Kong dollars ($14.38) apiece in Hong Kong for about HK$80 billion in proceeds. TotalEnergies (TTE) shares fell 1.1% after a Reuters report citing Chief Executive Patrick Pouyanne that the company will invest in the Fujairah oil export pipeline expansion in Abu Dhabi and continue investing in the Middle East despite ongoing conflict in the region.

Dow JonesNasdaq CompositeS&P 500$BABA$CRWD$IHG$NVDA$PDD$TTE$UAL
Equities

Market Chatter: TotalEnergies to Invest in Fujairah Oil Pipeline Expansion, CEO Says

TotalEnergies (TTE) will invest in the Fujairah oil export pipeline expansion in Abu Dhabi and continue investing in the Middle East despite ongoing conflict in the region, Reuters reported Monday, citing Chief Executive Patrick Pouyanne at the ONS energy conference in Norway.Pouyanne has previously called for investing in alternative oil export routes to reduce reliance on the Strait of Hormuz, which typically handles about a fifth of global oil shipments, the report said.(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 Mixed Late Afternoon

Energy stocks were mixed late Friday afternoon, with the NYSE Energy Sector Index slightly lower and the State Street Energy Select Sector SPDR ETF (XLE) fractionally higher.The Philadelphia Oil Service Sector Index was up 0.1%, and the Dow Jones US Utilities Index declined 2.2%.Front-month West Texas Intermediate crude oil rose 0.1% to $86.90 a barrel, and the global benchmark Brent crude contract increased 0.4% to $94.13 a barrel. Henry Hub natural gas futures added 0.8% to $2.76 per 1 million BTU.In corporate news, GE Vernova (GEV) said Friday that it was selected by Quinbrook for the third stage of the Supernode battery energy storage project in Queensland, Australia, expanding its role across all three stages of the development. GE Vernova shares were shedding 0.8%.A German regulator found a carbon credits project funded by an Exxon Mobil (XOM) unit to be suspicious, possibly faking or overstating its environmental impact, Bloomberg reported, citing a report from the German Environment Agency. Exxon shares were down 0.7%.Petrobras (PBR) shares added 0.6% after it said Friday that it has entered direct negotiations for exploration contracts covering four offshore blocks in Ghana's Keta Basin after the country's Ministry of Energy and Green Transition approved its application.TotalEnergies (TTE) and CMA CGM received European Commission approval to create a joint venture focused on liquefied natural gas bunkering logistics services, the Commission said Friday. TotalEnergies shares were down 0.8%.Brookfield Renewable Partners (BEP) shares were down 0.2%. The company said late Thursday it is planning to issue 750 million Canadian dollars ($545 million) of green bonds.

$BEP$GEV$PBR$TTE$XOM
Sectors

Sector Update: Energy Stocks Mixed Friday Afternoon

Energy stocks were mixed Friday afternoon, with the NYSE Energy Sector Index rising 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) fractionally lower.The Philadelphia Oil Service Sector Index was decreasing 0.2%, and the Dow Jones US Utilities Index declined 1.7%.Front-month West Texas Intermediate crude oil rose 0.1% to $86.90 a barrel, and the global benchmark Brent crude contract increased 0.5% to $94.25 a barrel. Henry Hub natural gas futures added 1.1% to $2.76 per 1 million BTU.In corporate news, a German regulator found a carbon credits project funded by an Exxon Mobil (XOM) unit to be suspicious, possibly faking or overstating its environmental impact, Bloomberg reported, citing a report from the German Environment Agency. Exxon shares were down 0.5%.Petrobras (PBR) shares added 0.2% after it said Friday that it has entered direct negotiations for exploration contracts covering four offshore blocks in Ghana's Keta Basin after the country's Ministry of Energy and Green Transition approved its application.TotalEnergies (TTE) and CMA CGM received European Commission approval to create a joint venture focused on liquefied natural gas bunkering logistics services, the Commission said Friday. TotalEnergies shares were down 0.5%.

$PBR$TTE$XOM
Commodities

EC Approves LNG Bunkering JV Between CMA CGM, TotalEnergies

The European Commission on Friday said it has cleared the 50/50 liquified natural gas bunkering logistics services joint venture by French shipping and logistics company CMA CGM and energy major TotalEnergies (TTE).Approving the JV under the EU Merger Regulation, the EC said the transaction was unlikely to raise any competition concerns due to its negligible activities in the European Economic Area and the "the companies' limited combined market positions resulting from the proposed transaction."The JV was assessed under the EC's simplified merger review procedure.The two companies entered into an agreement for the development and joint-operation of an LNG bunker supply solution at the port of Rotterdam, in the Netherlands, according to a statement issued by TotalEnergies last month.The JV will provide LNG logistics services from access to gate terminal facilities to LNG bunkering for vessels operated by CMA CGM and other shipping companies in the Amsterdam-Rotterdam-Antwerp region, the statement added then.Price: $90.75, Change: $-0.15, Percent Change: -0.17%

$TTE
Sectors

Sector Update: Energy Stocks Lean Lower Pre-Bell Friday

Energy stocks were leaning lower pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.1%.The United States Oil Fund (USO) was up 0.2% and the United States Natural Gas Fund (UNG) was 0.9% higher.Front-month US West Texas Intermediate crude oil was 0.2% lower at $86.64 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.1% to reach $93.70 per barrel, and natural gas futures were up 1.6% at $2.78 per 1 million British Thermal Units.TotalEnergies (TTE) and CMA CGM received European Commission approval to create a joint venture focused on liquefied natural gas bunkering logistics services, the Commission said. Shares of TotalEnergies were 0.2% lower premarket.Equinor (EQNR) Energy has exercised its one-year option for the Havila Troll vessel, extending the charter through November 2027, Havila Shipping said. Equinor shares were 0.2% higher pre-bell.Petroleo Brasileiro (PBR), or Petrobras, said it has entered direct negotiations for exploration contracts covering four offshore blocks in Ghana's Keta Basin after the country's Ministry of Energy and Green Transition approved its application. Petrobras stock was up 0.2% premarket.

$EQNR$PBR$TTE$UNG$USO$XLE
Sectors

Sector Update: Energy

Energy stocks were edging higher pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.1%.The United States Oil Fund (USO) was up 0.1% and the United States Natural Gas Fund (UNG) was 0.8% higher.Front-month US West Texas Intermediate crude oil was 0.1% higher at $86.91 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.3% to $94.06 per barrel, and natural gas futures were up 1.3% at $2.77 per 1 million British Thermal Units.TotalEnergies (TTE) and CMA CGM received European Commission approval to create a joint venture focused on liquefied natural gas bunkering logistics services, the Commission said. Shares of TotalEnergies were 0.2% lower premarket.

$TTE
Equities

TotalEnergies, CMA CGM Win EU Approval For LNG Bunkering Logistics Services JV

TotalEnergies (TTE) and CMA CGM received European Commission approval to create a joint venture focused on liquefied natural gas bunkering logistics services, the Commission said Friday.The transaction would not raise competition concerns, given the joint venture's negligible activities in the European Economic Area and the companies' limited combined market positions, the Commission said.The deal was reviewed under the EU's simplified merger procedure, it added.

$TTE
Asia Markets

Update: US Equity Futures Fall Pre-Bell as US Threatens Iran's Trade Partners

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Thursday as traders monitored the situation in the Middle East, with the US announcing further economic pressure on Iran and threatening its trade partners.Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures were down 0.5%, and Nasdaq futures were 0.8% lower.President Donald Trump said that Iran will be subject to economic warfare "on an unprecedented scale," while also threatening economic consequences on any country that assists or does business with the Middle Eastern nation. "Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies - It all needs to stop NOW," Trump said in a post on Truth Social.Iran's Foreign Minister Seyed Abbas Araghchi in a post on X dismissed Trump's threat, calling it a diversion from America's challenges of "unprecedented debt & surging interest costs."Traders assessed the latest round of earnings, with Walmart (WMT) posting higher fiscal Q2 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3% at $94.33 per barrel and US West Texas Intermediate crude 3.5% higher at $87.35 per barrel.Initial jobless claims fell to 206,000 in the week ended Aug. 15 from 212,000 in the previous week, compared with expectations for a decrease to 210,000. The Philadelphia Federal Reserve's monthly manufacturing index rose to 47.4 in August from 41.4 in July, compared with expectations for a drop to a reading of 24.8.July's leading indicators data is scheduled to be released 10 am ET.In other world markets, Japan's Nikkei closed 1.4% higher, Hong Kong's Hang Seng ended 0.8% higher, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was down 0.5%, and Germany's DAX index was 0.6% lower in Europe's early afternoon session.In equities, SK hynix (SKHY) stock was up 1.8% after The Korea Herald reported that the company and its labor union reached a tentative agreement to pay 60% of the chipmaker's profit-sharing bonuses in company shares. Shares of Exxon Mobil (XOM), Shell (SHEL), and TotalEnergies (TTE) were on the upswing as oil prices jumped. Exxon Mobil stock was up 1.8%, Shell shares rose 1.5%, and TotalEnergies stock was 2.3% higher.On the losing side, Walmart shares fell 6.6% after the company's fiscal Q3 adjusted EPS outlook fell short of analysts' consensus. Alibaba Group (BABA) stock was down 5.8% after the company reported lower-than-expected fiscal Q1 non-GAAP earnings. CrowdStrike (CRWD) shares were 3% lower after the company's global Chief Technology Officer Elia Zaitsev said in a LinkedIn post that he has stepped down from his role to launch an early-stage venture capital fund focused on cybersecurity.

Dow JonesNasdaq CompositeS&P 500$BABA$CRWD$SHEL$SKHY$TTE$WMT$XOM
Oil & Energy

Update: Abu Dhabi's Adnoc Still Lifting Iraqi Crude, TotalEnergies Offers it Outside Hormuz Strait- Media Reports

(Updates with comments from Iraq's State Organization for Marketing of Oil in the second paragraph.)Iraq is making crude oil sales to the UAE's Adnoc from inside the troubled Persian Gulf as the buyer remains willing to navigate the Strait of Hormuz to take it away, Bloomberg reported on Thursday, while France's TotalEnergies (TTE) is offering Iraqi crude from outside of the gulf, Reuters reported.Iraq's State Organization for Marketing of Oil toldthat "Adnoc is one of Somo's customers and is entitled to purchase Iraqi crude oil in accordance with the applicable contractual terms and Somo's prevailing procedures and regulations."According to a Bloomberg article Adnoc successfully leverages specialized logistics to maintain crude flows out of the Persian Gulf. Adnoc's trading arm has increasingly offered to shuttle exports of Iraqi crude through the Strait of Hormuz, the article said.TotalEnergies trading arm Totsa is offering Iraqi crude for loading outside of the Strait of Hormuz, three traders told Reuters on Thursday, maintaining the flow of some supply to importers unwilling to arrange their own collection by making the perilous crossing.Totsa's Basrah Medium crude is on offer at a premium of nearly $10 versus Dubai quotes, according to two of the traders.

$TTE
Commodities

Market Chatter: Shell Loses Legal Battle With South African Activists Over Oil Exploration

Shell (SHEL) has lost a five-year legal battle against environmental activists over a South African oil-exploration campaign, after the nation's highest court ruled against the energy major, Bloomberg reported on Friday.The Constitutional Court decided that Shell will not be permitted to renew its exploration rights off South Africa's Wild Coast along the Indian Ocean. The ruling deals a blow to offshore oil prospecting in the region as environmental challenges mount, even as neighboring Namibia advances major crude discoveries just across the maritime border.The court's decision is expected to further empower activists following a string of legal victories against offshore explorers. The litigation began in 2021 when local communities and environmental groups challenged a planned seismic survey by Shell and its local partner in an ecologically sensitive marine area frequented by whales.Shell and TotalEnergies (TTE) are among several companies targeting South Africa's offshore basins for drilling. Shell did not immediately respond to' request for a 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: $90.57, Change: $+1.43, Percent Change: +1.60%

$SHEL$TTE
Oil & Energy

Madagascar Reportedly Ends Fuel Import Monopoly with 1st State-Bought Diesel Cargo

Madagascar expects a diesel shipment for state utility Jirama this week, ending a 25-year arrangement under which a group of private companies, including TotalEnergies (TTE) and Vitol, held exclusive rights to import oil products, multiple news outlets reported on Thursday.The Sunda 1 tanker, carrying diesel from China, is due to dock at Toamasina, Energy Minister Radonirina Lucas Rabearimanga said in a speech at the port, according to Bloomberg. Jirama will use the fuel to run its power plants.Guillot Ramilison, chief executive of Madagascar's State Procurement office, reportedly told Reuters the cargo totals 63,000 cubic meters and was negotiated with Nigeria's Sahara Group.The government has passed legislation to take over fuel procurement, ending a system in which private companies organized tenders and controlled imports.The procurement will allow Jirama to maintain a stable electricity supply for several months, Rabearimanga reportedly said, adding that the shipment ends the previous import monopoly, Bloomberg said.A second tanker, ordered by the private companies and carrying other petroleum products, is also due to arrive this week.The government is expected to hold talks with Rubis Energie, which owns the Galana storage facility in Toamasina, on storing and distributing the two cargoes.Price: $87.01, Change: $-0.69, Percent Change: -0.79%

$TTE
Oil & Energy

Abu Dhabi's Adnoc Still Lifting Iraqi Crude, TotalEnergies Offers it Outside Hormuz Strait: Media Reports

Iraq is making crude oil sales to the UAE's Adnoc from inside the troubled Persian Gulf as the buyer remains willing to navigate the Strait of Hormuz to take it away, Bloomberg reported on Thursday, while France's TotalEnergies (TTE) is offering Iraqi crude from outside of the gulf, Reuters reported.Iraq's State Organization for Marketing of Oil has said that UAE's Adnoc remains a key buyer of Iraqi oil, as the producer successfully leverages specialized logistics to maintain crude flows out of the Persian Gulf, the Bloomberg article said, citing Somo Director General Ali Nizar.Adnoc's trading arm has increasingly offered to shuttle exports of Iraqi crude through the Strait of Hormuz, the article said.TotalEnergies trading arm Totsa is offering Iraqi crude for loading outside of the Strait of Hormuz, three traders told Reuters on Thursday, maintaining the flow of some supply to importers unwilling to arrange their own collection by making the perilous crossing.Totsa's Basrah Medium crude is on offer at a premium of nearly $10 versus Dubai quotes, according to two of the traders.

$TTE
Commodities

Asset Quality, Location now Define Refining Sector Winners, Says Rystad

Competitiveness in the refining sector now depends more than anything else on asset quality, configuration and location, analysts at Rystad said in their Refinery Market Review and Outlook.The US Gulf Coast is now among the most competitive globally, with plentiful cheap crude, a deep conversion capacity and strong export routes, while higher cost assets are slipping in the ranks, the report summary said.Capacity growth from 2015 to 2026 has been concentrated in Asia first and foremost with the Middle East and Africa ranking behind it. Capacity in North America has not changed while there has been a net decline in Europe, the report said.New capacity added in that period, 59 refineries versus 83 that closed, is generally larger, more complex and more focused on exports.Margins for jet fuel and diesel cracks have been the strongest signals in H1, 2026 while naphtha and high-sulfur fuel oil were weak, thereby rewarding refineries that can upgrade lower-value streams.Asia is the largest refined-fuels center with a capacity of more than 30 million barrels a day but it still lacks about 3 million bpd of LPG, 1.5 million bpd of naphtha and 1.3 million of fuel oil.Gasoline demand is falling yearly to about 26.4 million bpd now as sales of electric vehicles accelerate and with increased blending of bioethanol into the fossil fuel. Total biofuel demand is now 1.75 million bpd, the report said.Diesel now holds above 23 million bpd and trucks now use about 67% of this, underscoring the fuel's tight links to freight, goods movement and industrial productivity.National oil companies and pure refiners have led growth in capacity, with Sinopec at 6.5 million bpd, ExxonMobil (XOM) at 4.1 million and Marathon at 3.1 million bpd.Biorefining and circular value chains, led by Eni (E), TotalEnergies (TTE) and Exxonmobil (XOM), are emerging as a new "strategic battleground", the report said.The closure of the Strait of Hormuz since March has left the market structurally short, with a crude balance of around 4 million bpd and refined product balance now 3.8 billion bpd below pre-conflict levels.Global product demand will decline to 65 million bpd by 2050, the report forecasts, after first peaking in the early 2030s at about 82 million bpd. Asia will lead the decline at 6.3 million bpd while African demand will grow, by 500,000 bpd, the report says.By product, demand for gasoline will drop most, falling 11.9 million bpd while jet and kerosene volumes will increase.

$E$TTE$XOM
Commodities

Market Chatter: BP North Sea Business Receives Strong Interest

Oil supermajor BP (BP) has received strong interest for its North Sea business, which it is marketing for a potential sale, Bloomberg reported Tuesday, citing company chief executive Meg O'Neill.The company has decided to divest the assets after more than 50 years of operation considering the shifting oil and gas policies in the UK, and as part of its efforts to strengthen its balance sheet and exercise capital discipline, O'Neill told the news agency.BP reportedly believes that the basin still has untapped oil and gas potential. It is the only remaining global oil major operating independently in the North Sea, following Shell's (SHEL) and TotalEnergies' (TTE) decisions to combine operations with other companies, Bloomberg said.BP 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.)

$BP$SHEL$TTE

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