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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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Commodities

Market Chatter: Sempra's Mexico LNG Plant Exports First Cargo Amid Ongoing Global Supply Crunch

Sempra Infrastructure's (SRE) Energia Costa Azul LNG project on Mexico's Pacific coast shipped its first LNG cargo on Tuesday, marking a major milestone for the project, according to ship tracking data compiled by Bloomberg.The Pacific Success LNG tanker reportedly left the plant at Ensenada in Mexico's Baja California state, with its draft level having increased, indicating that it was loaded with cargo.The terminal began producing LNG in June and joins growing cohort of projects along North America's West Coast, aimed at serving new demand from Asian customers for US LNG, as disruptions in the Strait of Hormuz reshape global trade flows.Energia Costa Azul sources natural gas from the US for liquefaction. The project's first phase has export capacity of 3.25 million metric tons per year, with a second phase under development. Long-term supply agreements have been secured with Sempra Infrastructure's joint venture partner TotalEnergies (TTE) and Japanese trading house Mitsui & Co.Sempra Infrastructure 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.)

$SRE$TTE
Commodities

Mexico Poised to Launch 1st Pacific LNG Exports From Energia Costa Azul Terminal, Kpler Says

Mexico is set to begin liquefied natural gas exports from its Pacific coast for the first time, Kpler analyst Camille Klass said in a Tuesday note.The LNG tanker Pacific Success is en route to load the inaugural cargo from Sempra Infrastructure's (SRE) Energia Costa Azul terminal in Baja California.Klass said Kpler data show the TotalEnergies (TTE)-operated Pacific Success is expected to arrive near the ECA LNG terminal on Tuesday.ECA consists of a single liquefaction train and is jointly owned by Sempra Infrastructure and TotalEnergies.TotalEnergies holds a 16.6% equity stake and has contracted 1.7 million metric tons per annum of LNG from the facility, while Mitsui has long-term offtake rights for 0.8 mtpa.The expected first export comes about a month after the project began producing LNG during commissioning, following mechanical completion and the introduction of first gas.Sempra previously said it expected substantial completion during the summer, with commercial deliveries under long-term sales agreements to begin shortly afterward.The startup schedule has been closely watched after the company delayed commercial operations from an earlier spring target to complete additional quality-related inspections.The anticipated loading follows a sharp increase in feed gas deliveries to the terminal in June, signaling commissioning had entered its final stages.Kpler forecast that ECA LNG would "likely export its first LNG cargo in early-to-mid July" after feedgas flows to the plant rose to about 0.4 billion cubic feet per day in mid-June and remained at that level for several days.According to Kpler Insight, those volumes, equivalent to roughly 3 mtpa of LNG production, indicated the first export cargo was imminent.The project also began receiving gas under its long-term firm transportation agreement on the Rosarito pipeline in May, replacing earlier interruptible volumes.Kpler forecasts that the project will export about 1.14 million mt of LNG in 2026 as commissioning transitions to full commercial operations.With the start of exports, ECA will become Mexico's first LNG export terminal on the Pacific coast, providing a direct route to Asian markets without requiring transit through the Panama Canal.Mexico's only other operating LNG export project, Altamira Fast LNG in Tamaulipas on the Gulf coast, ships cargoes through the Atlantic Basin.

$SRE$TTE
Sectors

Sector Update: Energy Stocks Higher Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 2.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 2.9%.The Philadelphia Oil Service Sector Index was climbing up 2.6%, and the Dow Jones US Utilities Index rose 1.4%.In geopolitical news, Iran's Revolutionary Guard Corps fired missiles at vessels in the Strait of Hormuz, striking a liquefied natural gas carrier, according to media reports. "Oil prices and especially LNG rose after a Qatari LNG ship was struck by a projectile near the Omani coast as it exited the Strait of Hormuz, raising unease among shipowners while once again testing a US-Iran agreement intended to halt attacks and keep the narrow strait open," Saxo Bank said in a note.Front-month West Texas Intermediate crude oil jumped 5% to $72.00 a barrel, and the global benchmark Brent crude contract climbed 5.1% to $75.69 a barrel. Henry Hub natural gas futures added 0.5% to $3.26 per 1 million BTU.In corporate news, Shell (SHEL) expects Q2 oil-and-gas production volumes will decline due to Persian Gulf hostilities, but profit margins will swell, the energy giant reported Tuesday. Separately, Shell has agreed to sell its Shell Downstream South Africa retail and wholesale fuel business to Abu Dhabi's ADNOC Distribution at an implied enterprise value of $1 billion, ADNOC said Tuesday. Shell shares gained 4.7%.TotalEnergies (TTE) will discuss moving toward an offshore exploration contract with Syria, but Chief Executive Patrick Pouyanne said security concerns prevent a return to onshore oil operations for now, Reuters reported. Shares were up 3.1%.Peabody Energy (BTU) was selected by the US Department of Energy for funding to advance rare earth and critical mineral recovery from its Wyoming Powder River Basin resources, the company said Tuesday. Peabody shares were 0.4% higher.Equinor's (EQNR) chief crude trader David Barratt resigned from the company this week, Bloomberg reported. Barratt led the company's global crude-trading book from London, according to the report. Equinor shares rose 6.3%.

$BTU$EQNR$SHEL$TTE
Commodities

Market Chatter: TotalEnergies Offers Iraqi Crude to Asian Buyers

French energy major TotalEnergies (TTE) is offering cargoes of Iraqi crude, which it can collect from the Gulf and deliver to customers in Asia, including South Korea, Taiwan, and China, Bloomberg reported Friday, citing traders.The company is reportedly marketing Basrah Medium and Basrah Heavy on a delivered basis, and has been seeking supertankers that can transport two million barrels of crude, for arrival from July onward.The move could help accelerate shipping of Iraqi barrels as traffic picks up through the Strait of Hormuz, the report said. Iraq's state oil marketer, Somo, also offered Iraqi crude at deeply discounted rates, but only on a loaded basis.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 were higher late Thursday afternoon, with the NYSE Energy Sector Index rising 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index rose 0.2%, and the Dow Jones US Utilities Index climbed 2.1%.The Doha discussions between the US and Iran produced "positive progress" on issues related to the memorandum that halted the war in June and were "building on the outcomes" from the Switzerland summit, a Qatar Foreign Ministry spokesperson said in a post on X, according to Reuters.Front-month West Texas Intermediate crude oil decreased 0.1% to $68.51 a barrel, and the global benchmark Brent crude contract was up 0.1% at $71.62 a barrel. Henry Hub natural gas futures fell 0.5% to $3.20 per 1 million BTU.In sector news, US natural gas stocks increased by 87 billion cubic feet in the week ended June 26, larger than the 84 billion cubic feet increase expected in a survey compiled by Bloomberg and following an increase of 76 billion cubic feet in the previous week.In corporate news, Chevron's (CVX) Kilby power project differentiates the company from its global peers and could become a new earnings growth driver while supporting a higher valuation over time, UBS Securities said. The brokerage said in a note that the 2.67-gigawatt project, being developed with Joulent to supply power to a Microsoft (MSFT) data center under a 20-year agreement, could become one of the largest -- if not the largest -- behind-the-meter power projects developed to date. Chevron shares were up 2.1%.Obsidian Energy (OBE) said Thursday it closed the acquisition of Belly River light oil assets in the Wilson Creek area of Willesden Green for $98 million, adding 2,500 barrels of oil equivalent per day of light oil production and 35 sections of land. Obsidian Energy shares rose 0.6%.TotalEnergies (TTE) said it has agreed to sell its 85% interest in Block 2E offshore Malaysia to INPEX for $350 million. TotalEnergies shares added 2.4%.Tsakos Energy Navigation (TEN) said it placed an order for a second LNG carrier at Hyundai Heavy Industries in South Korea, with delivery expected in Q1 2029. Tsakos shares jumped past 5%.

$CVX$OBE$TEN$TTE
Sectors

Sector Update: Energy Stocks Advance Thursday Afternoon

Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.5%.The Philadelphia Oil Service Sector Index added 0.2%, and the Dow Jones US Utilities Index climbed 1.5%.The Doha discussions between the US and Iran produced "positive progress" on issues related to the memorandum that halted the war in June and were "building on the outcomes" from the Switzerland summit, a Qatar Foreign Ministry spokesperson said in a post on X, according to Reuters.Front-month West Texas Intermediate crude oil decreased 0.3% to $68.40 a barrel, and the global benchmark Brent crude contract declined 0.2% to $71.41 a barrel. Henry Hub natural gas futures rose 0.6% to $3.20 per 1 million BTU.In sector news, US natural gas stocks increased by 87 billion cubic feet in the week ended June 26, larger than the 84 billion cubic feet increase expected in a survey compiled by Bloomberg and following an increase of 76 billion cubic feet in the previous week.In corporate news, Chevron (CVX) continues to offer positive risk-reward as declining capital intensity across key upstream projects and emerging opportunities across its portfolio strengthen the company's long-term outlook, RBC Capital Markets said in a note. RBC maintained its outperform rating on Chevron and $220 price target. Chevron shares were up 1.6%.TotalEnergies (TTE) said it has agreed to sell its 85% interest in Block 2E offshore Malaysia to INPEX for $350 million. TotalEnergies shares added 2.1%.Tsakos Energy Navigation (TEN) said it placed an order for a second LNG carrier at Hyundai Heavy Industries in South Korea, with delivery expected in Q1 2029. Tsakos shares jumped past 5%.

$CVX$TEN$TTE
Oil & Energy

TotalEnergies Taken to Court by Environmental Groups Over Nigeria Oil Asset Sale

Environmental charity Friends of the Earth France and several other non-profit organizations are taking French energy major TotalEnergies (TTE) to court to obtain clarity on "opaque" sale terms regarding oil assets in the Niger Delta, it said Wednesday.Friends of the Earth France, along with Hawkmoth, HEDA Resource Centre and Social Action, have turned to a Paris judicial tribunal for clarification on the terms of Total's divestment in the Renaissance joint venture in Nigeria to verify whether the company has complied with its duty of vigilance."While the Niger Delta is known to be ravaged by oil exploitation, no information has been made public regarding the guarantees provided for addressing environmental damage and compensating affected people," the statement said."The documents, requested through summary proceedings and "before any legal action," would allow organizations to verify whether Total has complied with its duty of vigilance."About 9-13 million barrels of hydrocarbons have been spilled in the Niger Delta between 1958 and 2010 by oil companies, rendering its land unusable and water unfit for consumption, the statement said.As per the French law on the duty of vigilance, TotalEnergies is required to show that selling its stake will not further harm the people living near its oil and gas extraction sites and that adequate remediation are in place.According to the statement, a gradual withdrawal of established energy companies like Shell (SHEL), Total, and Eni from the region is hurting clean-up efforts and the future of affected populations.In March last year Shell sold its subsidiary Shell Petroleum Development Company, operator of the oil and gas assets held by the SPDC joint venture, to Renaissance Africa Energy, which is now its operator.The company has contributed to significant hydrocarbon pollution of the Niger Delta over the last 30 years, the statement said.Shell argues on its website, in detailing a case it is fighting in England over Niger Delta pollution, that illegal oil theft and illegal refining caused most of the spillage, that it has cleaned it up regardless and obtained Nigerian certification of this.Total subsidiary TotalEnergies EP Nigeria in January reached an agreement for the sale of its 10% stake in the Renaissance JV to Nigerian consortium, Vaaris, while ENI is also looking to sell its stake."This withdrawal of major European oil companies, conducted in complete secrecy, is causing serious concern among those most directly affected, as well as local and international associations: no information has been provided regarding guarantees for the remediation of polluted areas and compensation for those affected. The cleanup of the region could therefore be jeopardized," the statement said.

$SHEL$TTE
Sectors

Sector Update: Energy Stocks Edge Higher Pre-Bell Thursday

Energy stocks were edging higher pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.5%.The United States Oil Fund (USO) was down 0.7% and the United States Natural Gas Fund (UNG) was 0.8% lower.Front-month US West Texas Intermediate crude oil was 1.3% lower at $67.68 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 1.3% to $70.67 per barrel, and natural gas futures were down 2% at $3.16 per 1 million British Thermal Units.Tsakos Energy Navigation (TEN) placed an order for a second LNG carrier at Hyundai Heavy Industries in South Korea, with delivery expected in Q1 2029. Tsakos Energy Navigation stock was up more than 4% premarket.TotalEnergies (TTE) has agreed to sell its 85% interest in Block 2E offshore Malaysia to INPEX for $350 million, the company said. TotalEnergies shares were up more than 1% pre-bell.Viper Energy (VNOM) has completed the acquisition of the mineral and royalty interests owned by Riverbend Oil & Gas IX in a cash-and-stock deal, the company said. Shares of Viper Energy were 0.7% higher premarket.

$TEN$TTE$UNG$USO$VNOM$XLE
Commodities

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Thursday Amid Latest Economic Reports

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.4% in Thursday's premarket activity, amid the latest economic reports.US stock futures were mixed, with S&P 500 Index futures rose 0.4%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures retreating 0.5% before the start of regular trading.US initial jobless claims fell to 215,000 from 216,000 in the prior week, coming in below economists' expectations of 218,000.US nonfarm payrolls increased by 57,000 in June, well below expectations for a gain of 113,000 and down from a revised 129,000 increase in May, while the unemployment rate edged down to 4.2% from 4.3%, beating forecasts for no change.May's factory orders report will be released at 10 am ET, followed by the weekly EIA natural gas report at 10:30 am ET.The weekly Baker Hughes oil-and-gas rig count will be released at 1 pm ET.In premarket action, bitcoin was up by 1.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.7% higher, Ether ETF (EETH) advanced 2.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 2.8%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased by 0.5%. The VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were inactive.Alibaba (BABA) shares were down more than 1% pre-bell after gaining 2.1% at Wednesday's close. The US Department of Justice said Wednesday that the company and its US-based payment processor, AUS Merchant Services, agreed to pay a combined $600 million to resolve US allegations over illegal product sales on the company's e-commerce platforms.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.7% lower.UBS Group AG (UBS) shares traded up 3.4% in early hours activity after the Financial Times reported that the company plans to begin testing everyday banking services for its US employees as early as December, laying the groundwork for a full-service bank targeting wealthy American clients by mid-2027.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.1%, while the Vanguard Industrials Index Fund (VIS) was inactive and the iShares US Industrials ETF (IYJ) was flat.Forgent Power Solutions (FPS) stock was down more than 2% before the opening bell after the company priced an upsized public offering of its class A common shares at $49 each.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.6%, the Vanguard Health Care Index Fund (VHT) was flat, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.9% higher.Novartis (NVS) stock was up more than 1% premarket after the company received European Commission approval for its gene replacement treatment, Itvisma, to treat spinal muscular atrophy in patients aged 2 and older.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was flat.TotalEnergies (TTE) stock advanced more than 1% before the opening bell after the company agreed to sell its 85% interest in Block 2E offshore Malaysia to INPEX for $350 million.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.9%, and the iShares US Technology ETF (IYW) was 0.7% higher, while the iShares Expanded Tech Sector ETF (IGM) down 1.9%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined by 1.2%, while the iShares Semiconductor ETF (SOXX) rose by 1.9%.Nvidia (NVDA) shares were down 0.4% in premarket activity, extending losses from the previous day's 1.3% fall. The company said it is expanding access to its artificial intelligence infrastructure by introducing a revenue-sharing model that grants token credits to developers in exchange for a portion of the recurring earnings from the cloud networks.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 1.8% to $67.31 per barrel on the New York Mercantile Exchange. Natural gas was down by 1.2% to $3.18 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 1%, while the United States Natural Gas Fund (UNG) was 0.7% lower.Gold futures for July were up by 1.1% to $4,129.62 an ounce on the Comex. Silver futures was up by 2.3% to $61.89 an ounce. SPDR Gold Shares (GLD) advanced by 2.3%, and the iShares Silver Trust (SLV) was 3.6% higher.

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

TotalEnergies Sells Minority Stake in Malaysia's Marjoram Gas Field to Inpex for $350 Million

French energy major TotalEnergies (TTE) has divested its minority interest in Malaysia's Marjoram gas field to Japanese peer Inpex for $350 million, according to a statement on Thursday.TotalEnergies has sold its 85% interest in Block 2E offshore Malaysia, which represents an 8.5% minority non-operated interest in the gas project now being developed, the French company said in a statement."Through this transaction, TotalEnergies crystallizes the full value of this minority interest in a non-operated gas project, to focus on its operated portfolio and strategic growth opportunities in Malaysia," it said.The transaction aligns with the company's strategy of actively managing its portfolio and prioritising material positions to support the development of low-cost, low-emission projects, said Nicolas Terraz, President of Exploration & Production.Malaysia serves as a strategic platform for the company's low-cost, low-emission growth strategy, with the Jerun field now on stream and amid a large portfolio of opportunities, Terraz said.TotalEnergies, which has been present in Malaysia since 1985, has operated and non-operated interests in 17 offshore blocks off the coast of Sarawak and Sabah.The company is the third-largest gas producer in the country and also markets petroleum products via its subsidiary TotalEnergies Marketing Malaysia, the statement said.In 2023, TotalEnergies entered into an agreement with Petronas and Mitsui for the development of a carbon-dioxide storage project in Southeast Asia and to review potential sites in the Malay Basin.In April this year, the company disclosed a $2.2 billion joint venture with Masdar for the acceleration of renewable energy in Asia, especially Malaysia, the statement said.

$TTE
Equities

TotalEnergies Reportedly Sued Over Nigerian Energy Asset Sales

TotalEnergies (TTE) was sued Wednesday by several environmental groups over its plans for a Nigerian oil asset, news outlets reported.Friends of the Earth France and others are seeking to obtain environmental documents related to an onshore Nigerian oil asset TotalEnergies is attempting to sell to Vaaris, a transaction that has yet to be approved by Nigerian regulators, Reuters reported.The asset, called SPDC, has suffered hundreds of oil spills, and the lawsuit seeks to allow the groups to assess the environmental risks associated with the company, according to reports.TotalEnergies did not immediately reply to' request for comment.

$TTE
Equities

TotalEnergies Sells Malaysia Offshore Stake to INPEX for $350 Million

TotalEnergies (TTE) has agreed to sell its 85% interest in Block 2E offshore Malaysia to INPEX for $350 million, the company said Thursday.The stake represents a net 8.5% interest in the Marjoram gas field, which is currently under development, according to the company.TotalEnergies said the sale allows it to realize the value of its minority stake in the non-operated project and focus on its operated portfolio and strategic growth opportunities in Malaysia.

$TTE
Commodities

TotalEnergies Caps Fuel Prices Across Rural Stations During Peak Travel Season

TotalEnergies (TTE) said Tuesday it will cap gasoline and diesel prices at 1.99 euros ($2.27) per liter across 1,200 of its rural service stations in France during July and August, extending a measure aimed at shielding motorists from higher fuel costs during the busy summer travel season.The company said the price ceiling will also apply at all of its motorway service stations, during five peak holiday travel weekends spanning July and August.It noted that rural areas are often slower to benefit from declines in fuel prices, because many local stations build up their inventories at higher prices, and given the low consumption levels, it takes a while before lower costs are passed on to consumers.The price cap is aimed at addressing this issue, across its 1,200 rural service stations, which the company said was part of its initiative to provide more affordable energy to consumers during peak travel seasons.

$TTE
Sectors

Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks were lower late Friday afternoon, with the NYSE Energy Sector Index decreasing 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) down 0.7%.The Philadelphia Oil Service Sector Index was falling 1.9%, and the Dow Jones US Utilities Index rose 0.3%.Front-month West Texas Intermediate crude oil fell 3.9% to $69.09 a barrel, and the global benchmark Brent crude contract dropped 4.7% to $71.73 a barrel. Henry Hub natural gas futures rose 0.2% to $3.30 per 1 million BTU.In corporate news, Constellation Energy (CEG) said it filed applications with the US Nuclear Regulatory Commission to renew the operating licenses for its Ginna and Nine Mile Point Unit 1 nuclear reactors in New York through 2049. Constellation shares were down 2.4%.Equinor (EQNR) is ending its offshore wind business activities in Japan by the end of the year. The decision is due to a reassessment of its strategic direction and focus on integrated power markets, the firm said. Its shares fell 1.9%.TotalEnergies (TTE) said Thursday the Paris Judicial Court rejected a bid by environmental groups and the City of Paris to block new oil and gas projects or force production cuts under France's duty of vigilance law. TotalEnergies shares were down 1.9%.FuelCell Energy (FCEL) shares jumped 21% after Jefferies upgraded the company's shares to buy from hold.

$CEG$EQNR$FCEL$TTE
Sectors

Sector Update: Energy Stocks Decline Friday Afternoon

Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) down 0.5%.The Philadelphia Oil Service Sector Index was falling 1.8%, and the Dow Jones US Utilities Index rose 0.5%.Oil prices resumed their decline on Friday as tankers continued to transit through the Strait of Hormuz, a day after a vessel was attacked in the Gulf of Oman.Front-month West Texas Intermediate crude oil fell 4% to $69.08 a barrel, and the global benchmark Brent crude contract dropped 4.1% to $72.43 a barrel. Henry Hub natural gas futures were 0.2% lower at $3.34 per 1 million BTU.In corporate news, Constellation Energy (CEG) said it filed applications with the US Nuclear Regulatory Commission to renew the operating licenses for its Ginna and Nine Mile Point Unit 1 nuclear reactors in New York through 2049. Shares were down 2.2%.Equinor (EQNR) is ending its offshore wind business activities in Japan by the end of the year. The decision is due to a reassessment of its strategic direction and focus on integrated power markets, the firm said. Shares fell 1.6%.TotalEnergies (TTE) said Thursday the Paris Judicial Court rejected a bid by environmental groups and the City of Paris to block new oil and gas projects or force production cuts under France's duty of vigilance law. Shares were shedding 1.4%.

$CEG$EQNR$TTE
Commodities

TotalEnergies Wins Major Climate Lawsuit, Ordered to Expand Emissions Disclosure

TotalEnergies (TTE) secured a significant judicial victory on Thursday after a Paris court rejected attempts by activists and the City of Paris to force the company to halt new oil and gas developments or slash production volumes.The Paris Judicial Court ruled that France's duty of vigilance law does not hold companies liable for climate risks arising from "all human activity on the planet since the industrial revolution."The court also said it was not within its remit to set emissions reduction targets for the energy firm, stating that "it is not for the court to set TotalEnergies the target to be reached to prevent or mitigate the negative climate impacts resulting from its activity".The ruling marks a setback for environmental campaigners who had sought to use France's 2017 duty of vigilance legislation to compel the oil major to align its business strategy more closely with climate goals.TotalEnergies said it has reduced emissions from its operated assets, known as Scope 1 and Scope 2 emissions, by 28% since 2015, including a 65% reduction in methane emissions since 2020.However, the Paris Judicial Court asked TotalEnergies to update its vigilance plan to include Scope 3 emissions, and the company said it will revise the plan, drawing on its sustainability report, while assessing its next steps.TotalEnergies said it is pursuing investments in electricity and biofuels to help customers lower their carbon footprints and is targeting a 25% reduction in the carbon intensity of energy products sold by 2030, compared with 2015 levels.The French energy major said it had achieved an 18% reduction by the end of 2025.The company argued that reductions in customer emissions also depend on consumer and investment decisions, including the adoption of electric vehicles, heat pumps and low-carbon fuels such as E90 ethanol blends.Price: $78.08, Change: $-0.20, Percent Change: -0.26%

$TTE
Sectors

Sector Update: Energy Stocks Decline Premarket Friday

Energy stocks were declining premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% lower.The United States Oil Fund (USO) was down 3% and the United States Natural Gas Fund (UNG) was 2.3% higher.Front-month US West Texas Intermediate crude oil was 3.2% lower at $69.64 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 3.5% to $72.64 per barrel, and natural gas futures were up 1.5% at $3.39 per 1 million British Thermal Units.Equinor (EQNR) shares were down more than 1% after the company said it is ending its offshore wind business activities in Japan and shut its Tokyo office by the end of the year.Cenovus Energy (CVE) has awarded a five-year engineering and maintenance services contract for its White Rose offshore field assets to Aker Solutions, the latter said. Cenovus Energy stock was 0.6% lower premarket.TotalEnergies (TTE) said the Paris Judicial Court rejected a bid by environmental groups and the City of Paris to block new oil and gas projects or force production cuts under France's duty of vigilance law. Shares of TotalEnergies were down 0.2% pre-bell.

$CVE$EQNR$TTE$UNG$USO$XLE
Equities

TotalEnergies Says Paris Court Rejects Bid to Mandate Oil, Gas Output Cuts

TotalEnergies (TTE) said Thursday the Paris Judicial Court rejected a bid by environmental groups and the City of Paris to block new oil and gas projects or force production cuts under France's duty of vigilance law.The company said the court ruled that the law does not hold companies liable for climate risks arising from all human activity or authorize courts to set emissions reduction targets.The court asked TotalEnergies to update its vigilance plan to include Scope 3 emissions, and the company said it will revise the plan using its sustainability report while assessing its next steps.

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Sectors

Sector Update: Energy Stocks Higher Late Afternoon

Energy stocks advanced late Thursday afternoon, with the NYSE Energy Sector Index rising 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index gained 2.5%, and the Dow Jones US Utilities Index increased 0.7%.In sector news, Iran's Islamic Revolutionary Guard Corps attacked a Singapore-flagged ship on Thursday in the Strait of Hormuz, damaging the vessel's bridge while causing no casualties, the Wall Street Journal reported.West Texas Intermediate crude oil rose 2.5% to $72.12 a barrel, and global benchmark Brent added 2.4% to $75.48 a barrel.US natural gas stocks rose by 76 billion cubic feet in the week ended June 19, larger than the 69 billion cubic feet increase expected in a Bloomberg survey and following an increase of 73 billion cubic feet in the previous week. Henry Hub natural gas futures gained 2.1% to $3.29 per 1 million BTU.In corporate news, Chevron (CVX) said its Venezuelan business remains operational and that all of its workers are accounted for after back-to-back earthquakes in the country, Bloomberg reported, citing a company statement. Chevron shares were up 0.3%.Prairie Operating (PROP) said Thursday that it promoted Gregory Patton to chief executive and board member, and named Michael Shelly as chief financial officer. Its shares jumped 8%.TotalEnergies (TTE) must spell out the climate risks tied to emissions from its oil and gas products and detail how it plans to address them, the Paris Judicial Court ruled Thursday, Reuters reported, citing a summary of the decision. TotalEnergies shares eased 0.1%.Eco Wave Power Global (WAVE) shares climbed 6.1% after the company priced an offering of 400,000 American depositary shares to an institutional investor at $10 apiece for gross proceeds of $4 million.

$CVX$PROP$TTE$WAVE
Sectors

Sector Update: Energy Stocks Rise Thursday Afternoon

Energy stocks advanced Thursday afternoon, with the NYSE Energy Sector Index rising 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.5%.The Philadelphia Oil Service Sector Index was climbing up 2.2%, and the Dow Jones US Utilities Index increased 0.2%.Front-month West Texas Intermediate crude oil rose 1.7% to $71.53 a barrel, and the global benchmark Brent crude contract added 1.4% to $74.75 a barrel. Henry Hub natural gas futures gained 1.7% to $3.27 per 1 million BTU.In sector news, US natural gas stocks rose by 76 billion cubic feet in the week ended June 19, larger than the 69 billion cubic foot increase expected in a Bloomberg survey and following an increase of 73 billion cubic feet in the previous week.In corporate news, Chevron (CVX) said its Venezuelan business is still operational and all of its workers are accounted for after back-to-back earthquakes in the country, Bloomberg reported, citing a company statement. Chevron shares were up 0.1%.Prairie Operating Co. (PROP) said Thursday it promoted Gregory Patton to chief executive and a board member, and also named Michael Shelly as chief financial officer. Shares jumped 11%.TotalEnergies (TTE) must spell out the climate risks tied to emissions from its oil and gas products and detail how it plans to address them, the Paris Judicial Court ruled Thursday, Reuters reported, citing a summary of the decision. Shares eased 0.2%.

$CVX$PROP$TTE

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