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TotalEnergies SE

TotalEnergies SE

$TTE
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198 stories mentioning TotalEnergies SEUpdated 1d ago

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

Oil & Energy

Turkey State-Owned Botas Inks 15-Year Gas Supply Deal With Socar, Adnoc, TotalEnergies

The Turkish Ministry of Energy and Natural Resources said Monday the country's state-owned Botas has finalized a 15-year agreement for the supply of natural gas with the State Oil Company of the Azerbaijan Republic, Abu Dhabi National Oil, and oil supermajor TotalEnergies (TTE).Signed on the sidelines of Baku Energy Week, the deal includes the supply of 33 billion cubic meters of natural gas from Azerbaijan's Absheron field, according to the ministry, with supplies to begin in 2029."This strategic step, which supports Turkey's vision of becoming a central energy hub, will make significant contributions to the energy supply security of our country, our region, and Europe," the ministry said.Supplies to the Turkish market are around half of the field production, Reuters reported, citing a Socar official.The Absheron field is one of Azerbaijan's largest gas-condensate fields, with annual output potentially exceeding 4 billion cubic meters, Reuters reported.A final investment decision for the second phase of the Absheron project is reportedly planned for this year, with gas production expected to begin by 2029.Price: $89.11, Change: $+1.79, Percent Change: +2.04%

$TTE
Oil & Energy

Market Chatter: India's IOC Buys 5 Million Barrels of Crude in Supply Push

Indian Oil Corporation bought 5 million barrels of crude oil from West Africa and the Middle East through a tender this week, Reuters reported on Friday, citing trade sources.The state refiner purchased Angola's Kissanje and Nemba grades for delivery to its Paradip refinery. IOC also bought Nigeria's Usan crude from Exxon Mobil (XOM) and Abu Dhabi's Murban crude from Mercuria Energy Group for delivery to Vadinar.The energy firm acquired Murban crude from Totsa, the trading arm of TotalEnergies (TTE), for delivery to Chennai.IOC did not immediately reply to inquiries from.The West African cargoes traded at premiums of about $4 a barrel to dated Brent, while the Murban cargoes were sold at flat to marginal premiums against the benchmark.(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: $145.69, Change: $-1.28, Percent Change: -0.87%

$TTE$XOM
Sectors

Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Thursday afternoon, with the NYSE Energy Sector Index fractionally lower and the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%.The Philadelphia Oil Service Sector Index was falling 1.5%, and the Dow Jones US Utilities Index shed 1%.Front-month West Texas Intermediate crude oil rose 0.5% to $89.14 a barrel, and the global benchmark Brent crude contract shed 0.4% to $93.93 a barrel. Henry Hub natural gas futures climbed up 5% to $3.04 per 1 million BTU.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 12.4 million barrels in the week ended May 22 following a fall of 17.8 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks declined by 3.3 million barrels after a 7.9-million-barrel decline in the previous week, a larger drop than the 3-million-barrel decrease expected in a Bloomberg survey.In corporate news, BP's (BP) former chairman Albert Manifold, who was ousted earlier in the week, had fallen out with company secretary Ben Mathews before his removal from the role, the Financial Times reported. BP shares were down 0.4%.Ecopetrol (EC) said Thursday its board has postponed the start date of the previously announced unpaid leave of Chief Executive Ricardo Roa Barragan. Ecopetrol shares fell 1.1%.TotalEnergies (TTE) and Stellantis (STLA) have renewed and expanded their partnership in Europe to develop and deliver engine oils and lubricants, the companies said. TotalEnergies shares rose 0.8%.Baker Hughes (BKR) said it has secured multiyear contract extensions with Equinor (EQNR) for drilling, well services and wireline intervention in the North Sea. Baker Hughes shares climbed 2.3%, and Equinor was up 0.1%.

$BKR$BP$EC$EQNR$TTE
Sectors

Sector Update: Energy Stocks Edge Higher in Afternoon Trading

Energy stocks were slightly higher Thursday afternoon, with the NYSE Energy Sector Index increasing 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) fractionally higher.The Philadelphia Oil Service Sector Index was falling 1.4%, and the Dow Jones US Utilities Index shed 0.3%.Front-month West Texas Intermediate crude oil was fractionally higher at $88.69 a barrel, and the global benchmark Brent crude contract was dropping 1% to $93.36 a barrel. Henry Hub natural gas futures rose 5% to $3.04 per 1 million BTU.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 12.4 million barrels in the week ended May 22 following a decrease of 17.8 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks declined by 3.3 million barrels after a 7.9-million-barrel decline in the previous week, a larger drop than the 3-million-barrel decrease expected in a survey compiled by Bloomberg.In corporate news, TotalEnergies (TTE) and Stellantis (STLA) have renewed and expanded their partnership in Europe to develop and deliver engine oils and lubricants, the companies said. TotalEnergies shares rose 0.9%.Baker Hughes (BKR) has secured multiyear contract extensions with Equinor (EQNR) for drilling, well services and wireline intervention in the North Sea. Baker Hughes shares climbed 1.6%, and Equinor was fractionally higher.BP (BP) will become operator of Azerbaijan's offshore Babek natural gas field under an agreement expected to be announced with state energy company Socar on June 1, Reuters reported. BP shares were down 0.5%.

$BKR$BP$EQNR$TTE
Sectors

Sector Update: Energy Stocks Advance Premarket Thursday

Energy stocks were advancing premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.9% higher.The United States Oil Fund (USO) was up 1.7% and The United States Natural Gas Fund (UNG) was 0.4% higher.Front-month US West Texas Intermediate crude oil was 2.1% higher at $90.56 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.6% to $95.84 per barrel, and natural gas futures were up 5% at $3.04 per 1 million British Thermal Units.TotalEnergies (TTE) and Stellantis (STLA) have renewed and expanded their partnership in Europe to develop and deliver engine oils and lubricants, the companies said. Shares of TotalEnergies were up 2% pre-bell.Baker Hughes (BKR) has secured multiyear contract extensions with Equinor (EQNR) for drilling, well services and wireline intervention in the North Sea. Equinor stock was up more than 1% premarket.Borr Drilling (BORR) stock was up more than 4% after the company priced an upsized $2.04 billion senior secured notes offering and simultaneously expanded a tender offer for its outstanding 10.375% senior secured notes due 2030.

$BKR$BORR$EQNR$STLA$TTE$UNG$USO$XLE
Sectors

Sector Update: Energy

Energy stocks were advancing premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.8% higher.The United States Oil Fund (USO) was up 1.2% and the United States Natural Gas Fund (UNG) was 0.4% lower.Front-month US West Texas Intermediate crude oil was 2.3% higher at $90.71 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.1% to $96.24 per barrel, and natural gas futures were up 5% at $3.04 per 1 million British Thermal Units.TotalEnergies (TTE) and Stellantis (STLA) have renewed and expanded their partnership in Europe to develop and deliver engine oils and lubricants, the companies said. Shares of TotalEnergies were up more than 1% pre-bell.

$STLA$TTE
Commodities

TotalEnergies Files Permit Application for France's Largest Offshore Wind Project

French energy giant TotalEnergies (TTE) said Thursday that its wholly-owned subsidiary Centre Manche Energies has filed an application for the sole authorization required to develop a 1.5-gigawatt offshore wind farm off the coast of Normandy.This is a major milestone for what is set to become France's largest renewable energy project, capable of generating 6 terawatt-hours of electricity annually, which the company says is roughly the needs of one million French homes.The company said the authorization filing includes technical and environmental studies, a preliminary wind farm design and a planned installation program, alongside an environmental impact assessment developed through consultations with regional stakeholders and government agencies.The project will require total investment of 4.5 billion euros ($5.22 billion) and create about 2,500 jobs during its three-year construction, with the company planning to rely heavily on the local workforce."We are delighted to have filed for authorization and to have reached this major milestone for Centre Manche Energies," said Thierry Muller, the project's director.

$TTE
Equities

TotalEnergies, Stellantis Renew, Expand Engine Oil Partnership

TotalEnergies (TTE) and Stellantis (STLA) have renewed and expanded their partnership in Europe to develop and deliver engine oils and lubricants, the companies said Thursday.Financial details of the renewal and expansion were not disclosed.The new agreement, originally renewed in 2021 for the Peugeot, Citroen Opel, DS Automobiles, and Vauxhall brands, now also includes additional Stellantis brands: Fiat, Jeep, Lancia, Alfa Romeo, and Abarth, the companies said.The partnership encompasses research & development, motorsports collaboration, after-sales services, and environmental sustainability, the companies said.

$TTE
Equities

TotalEnergies Unit Seeks Approval for Offshore Windfarm Project in France

TotalEnergies' (TTE) Centre Manche Energies subsidiary has applied for regulatory authorization for a 1.5-gigawatt offshore windfarm project in Normandy, France, the energy company said Thursday.The 4.5 billion-euro ($5.23 billion) investment is expected to create up to 2,500 jobs during the three-year construction phase, TotalEnergies said.

$TTE
Sectors

Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index falling 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 1.1%.The Philadelphia Oil Service Sector Index slumped 2.9%, and the Dow Jones US Utilities Index shed 0.6%.Front-month West Texas Intermediate crude oil fell 5.3% to $88.94 a barrel, and the global benchmark Brent crude contract dropped 5.1% to $94.52 a barrel. Henry Hub natural gas futures rose 5% to $3.04 per 1 million BTU.In sector news, the memorandum of understanding being negotiated between Tehran and Washington will call for US forces to withdraw from Iran's vicinity and lift the blockade of Iranian ports in return for reopening the Strait of Hormuz to pre-war levels, CNN reported, citing Iranian state television. The US denied claims that maritime traffic through the Strait of Hormuz could return to normal within a month of the Iran deal, Bloomberg reported. President Donald Trump on Wednesday expressed confidence that the US would be able to reach a deal to end the conflict, but he is not yet satisfied with the terms, CNN reported.In corporate news, Kosmos Energy (KOS) shares fell 6% after Mizuho downgraded the stock to underperform from neutral.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. TotalEnergies shares fell 3.6%.Chevron (CVX) shareholders have rejected a proposal put forth at the company's annual general meeting that would have required appointing an independent board chair separate from the chief executive officer, Reuters reported, citing preliminary voting results. Chevron shares were down 1.4%.DTE Energy (DTE) added 0.3% after the firm said it will invest $1.6 billion to develop Michigan-made battery energy storage systems in collaboration with LG Energy Solution Vertech.

$CVX$DTE$KOS$TTE
Sectors

Sector Update: Energy Stocks Retreat in Afternoon Trading

Energy stocks declined Wednesday afternoon, with the NYSE Energy Sector Index falling 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.8%.The Philadelphia Oil Service Sector Index slumped 2.7%, and the Dow Jones US Utilities Index shed 0.5%.In sector news, the memorandum of understanding being negotiated between Tehran and Washington will call for US forces to withdraw from Iran's vicinity and lift the blockade of Iranian ports in return for reopening the Strait of Hormuz to pre-war levels, CNN reported, citing Iranian state television. The US denied claims that maritime traffic through the Strait of Hormuz could return to normal within a month of the Iran deal, Bloomberg reported.Front-month West Texas Intermediate crude oil was falling 4.8% to $89.40 a barrel, and the global benchmark Brent crude contract was dropping 4.5% to $95.14 a barrel. Henry Hub natural gas futures rose 4.4% to $3.02 per 1 million BTU.In corporate news, 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. TotalEnergies shares fell 2.5%.Chevron (CVX) shareholders have rejected a proposal put forth at the company's annual general meeting that would have required appointing an independent board chair separate from the chief executive officer, Reuters reported, citing preliminary voting results. Chevron shares were down 0.9%.DTE Energy (DTE) shares added 0.3% after it said Wednesday it will invest $1.6 billion to develop Michigan-made battery energy storage systems statewide in collaboration with LG Energy Solution Vertech.

$CVX$DTE$TTE
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Amid S&P 500, Nasdaq Rally, Middle East Peace Optimism

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.7%, and the actively traded Invesco QQQ Trust (QQQ) was 1.7% higher in Wednesday's premarket activity amid all-time highs achieved by the S&P 500 and the Nasdaq along with continued optimism for an end to the Middle East conflict.US stock futures were higher, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 0.7% before the start of regular trading.The Richmond Federal Reserve's manufacturing and business conditions readings for May are due to be released at 10 am ET, followed by the Dallas Fed's non-manufacturing survey for May at 10:30 am ET.Mortgage applications fell by 8.5% in the week ended May 22 as a sharp increase in mortgage rates pushed down refinancing activity and new home applications, according to Mortgage Bankers Association data released Wednesday.In premarket activity, bitcoin was down by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% higher, Ether ETF (EETH) advanced 2.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) increased by 0.2%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.5%, while the Vanguard Industrials Index Fund (VIS) gained 1.7%, and the iShares US Industrials ETF (IYJ) rose 1.3%.Dycom Industries (DY) stock was up more than 23% before the opening bell after the company reported higher fiscal Q1 adjusted net income and contract revenue.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) dropped 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.3%, while Direxion Daily Financial Bear 3X Shares (FAZ), was 0.2% higher.Qfin (QFIN) stock was up more than 7% even after the company posted lower Q1 non-GAAP net income and net revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 1.4% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) dropped by 1.4%. The iShares US Consumer Staples ETF (IYK) retreated by 1.6%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased by 0.2%. The VanEck Retail ETF (RTH) was 1.2% lower, while the State Street SPDR S&P Retail ETF (XRT) was 0.5% higher.PDD Holdings (PDD) shares were down more than 7% after the company posted Q1 non-GAAP earnings and revenue that missed analysts' estimates, with non-GAAP EPS declining year over year.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) increased by 2.6%, and the iShares US Technology ETF (IYW) was 2.3% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 2.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained by 4.7%, while the iShares Semiconductor ETF (SOXX) rose by 6.1%.Micron Technology (MU) shares were up more than 7%, extending gains after the company's market capitalization eclipsed $1 trillion for the first time on Tuesday.EnergyThe iShares US Energy ETF (IYE) was 2.5% lower, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 2.7%.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, citing an unnamed person familiar with the matter. Shares of TotalEnergies were down more than 2% pre-bell.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.9%, the Vanguard Health Care Index Fund (VHT) was up 0.7%, while the iShares US Healthcare ETF (IYH) lost by 0.7%. The iShares Biotechnology ETF (IBB) was 0.4% higher.Guardant Health (GH) shares were up more than 5% after the company said its Shield blood test has been included in the American Cancer Society's updated Colorectal Cancer Screening guidelines.CommoditiesFront-month US West Texas Intermediate crude oil fell by 5.6% to $88.54 per barrel on the New York Mercantile Exchange. Natural gas was up 1.8% at $2.95 per 1 million British Thermal Units. The United States Oil Fund (USO) retreated by 2.7%, while the United States Natural Gas Fund (UNG) was 0.3% lower.Gold futures for August retreated by 1.6% to $4,461.50 an ounce on the Comex. Silver futures fell by 2.9% to $74.35 an ounce. SPDR Gold Shares (GLD) was up by 0.04%, and the iShares Silver Trust (SLV) rose by 2%.

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

Sector Update: Energy Stocks Decline Premarket Wednesday

Energy stocks were declining premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.6% lower.The United States Oil Fund (USO) was down 4.4% and the United States Natural Gas Fund (UNG) was 1.7% higher.Front-month US West Texas Intermediate crude oil was 5.1% lower at $89.13 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 4.2% to $95.41 per barrel, and natural gas futures were up 1.2% at $2.93 per 1 million British Thermal Units.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, citing an unnamed person familiar with the matter. Shares of TotalEnergies were down more than 2% pre-bell.BP (BP) removed Chairman Albert Manifold, citing governance and oversight concerns, though Manifold rejected the company's account and said his dismissal came without explanation, Bloomberg reported, citing unnamed people familiar with the matter. BP stock was down more than 2% premarket.Gran Tierra Energy (GTE) said it has finalized all conditions tied to its previously announced agreement with Ecopetrol (EC) to acquire a 49% working interest in Colombia's Tisquirama block, expanding its footprint in the Middle Magdalena Valley Basin. Ecopetrol shares were nearly 2% lower pre-bell.

$BP$EC$GTE$TTE$UNG$USO$XLE
Sectors

Sector Update: Energy

Energy stocks were declining premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.8% lower.The United States Oil Fund (USO) was down 4.4% and the United States Natural Gas Fund (UNG) was 1% higher.Front-month US West Texas Intermediate crude oil was 5.6% lower at $88.68 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 4.6% to $95.04 per barrel, and natural gas futures were up 1.6% at $2.94 per 1 million British Thermal Units.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, citing an unnamed person familiar with the matter. Shares of TotalEnergies were down more than 3% pre-bell.

$TTE
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

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