TotalEnergies SE

TotalEnergies has entered into a partnership agreement with Global Infrastructure Partners, a part of BlackRock, covering its interests in some oil and gas infrastructure assets in Africa. Under the deal, GIP will make a US$1.8 billion capital contribution, and TotalEnergies will pay GIP a throughput-based tariff over a period of up to 15 years. Chief Financial Officer Jean-Pierre Sbraire said the agreement strengthens the company's relationship with GIP and crystallizes the value of some of its midstream infrastructure assets in Africa. TotalEnergies is a global integrated energy company with more than 100,000 employees active in about 120 countries.

TotalEnergies has entered into a three-year partnership with French AI company Mistral to develop AI models for oil and gas reservoir exploration and engineering, backed by an investment of more than €100m. The joint programme aims to improve the ability to integrate, process and interpret large volumes of geoscientific data, combining TotalEnergies' expertise in subsurface geoscience and reservoir engineering with Mistral's technological and scientific resources. The goal is to create AI models that generate multiple development scenarios for exploration opportunities, as well as optimise or extend the life of existing projects. The companies plan to use next-generation AI techniques including agentic AI to work with up to ten petaflops of data, alongside nearly a century of TotalEnergies' accumulated geoscience knowledge, and will set up a shared scientific laboratory bringing together TotalEnergies' subsurface specialists and Mistral's scientific and technical skills. TotalEnergies chairman and CEO Patrick Pouyanné said exploration and reservoir engineering are among the areas where artificial intelligence can create the greatest value, while Mistral co-founder and CEO Arthur Mensch said the project demonstrates the ability of its models to support complex industrial processes. Earlier this month, TotalEnergies completed an asset swap with Galp following an agreement reached in December 2025, acquiring a 40% operated interest in the PEL83 licence, which includes the Mopane discovery, in return for Galp receiving a 10% participating interest in the PEL56 licence, covering the Venus discovery, and a 9.39% participating interest in the PEL91 licence.

TotalEnergies signed new exploration agreements to operate Angola's offshore Blocks 17/25 and 32/21 in the Lower Congo Basin, expanding its operated footprint in the country. The company also reported rapid first oil from its Acacia-5 discovery, using existing offshore infrastructure to move from find to output quickly. The two Angolan blocks add fresh optionality around future African upstream project volumes, with shared operatorship alongside ExxonMobil and Sonangol. TotalEnergies operates as a large integrated energy producer with a €176.8 billion market cap, spanning oil, biofuels, natural gas, low carbon hydrogen, renewables and electricity across Africa, Europe, the United States and beyond. The expansion deepens the group's dependence on steady project delivery and stable regulation in Africa even as it supports its strategy of redeploying capital into lower-cost, higher-return hydrocarbon projects.

TotalEnergies plans to invest $10 billion alongside its partners in Angola over the next five years to maintain and potentially increase its oil production there. The company currently produces around 450,000 barrels per day in Angola, making it the country's largest oil operator and accounting for more than 40% of its total output. The spending will cover existing operations, new exploration, and projects to replace production from Angola's aging offshore fields, including the $6 billion Kaminho development, which is expected to start producing oil in 2028. TotalEnergies has also signed agreements for two additional offshore blocks and recently announced a discovery in Block 17 that could add roughly 6,000 barrels per day. The company acknowledged that much of the $10 billion may be needed just to keep production from falling, and that major projects such as Kaminho will not begin producing until 2028, leaving returns dependent on oil prices and subject to potential delays.

Jane Street disclosed two new energy stock positions in its second-quarter filings, buying about 3.86 million shares of X-Energy Inc. worth roughly $70.8 million and about 1.21 million shares of TotalEnergies SE worth roughly $94.1 million. X-Energy is an advanced nuclear company developing small modular reactors, with its first commercial project being developed with Dow in Texas, where four Xe-100 reactors are expected to provide electricity and industrial steam. The US Department of Energy has committed up to about $2.1 billion toward the demonstration program under a cost-sharing arrangement, and X-Energy and Amazon are working toward more than 5 gigawatts of new nuclear capacity. Bears note the company is still early-stage, with commercial reactors years from operation and significant regulatory and execution risk. Jane Street is a private New York trading firm and one of the world's largest market makers, with over $1 trillion in managed 13F securities as of the end of June.

TotalEnergies has agreed to acquire Plastic Energy's 35% interest in the Grandpuits advanced plastics recycling plant, giving it sole ownership of the facility in which it already held a 65% stake. The move follows the restructuring of Plastic Energy's shareholding. Located in Seine-et-Marne, the plant began production in March 2026 and has an annual capacity to process 15,000 tons of plastic waste. It converts hard-to-recycle plastic waste from French households, including material collected in yellow recycling bins that would otherwise go to landfill or incineration, into synthetic oil through a pyrolysis process, producing circular petrochemical feedstock that can substitute for fossil feedstocks. In 2023, TotalEnergies signed an agreement with French partners Citeo and Paprec to secure the plant's long-term supply of plastic waste.

Kazakhstan has suspended efforts to collect a $5.06 billion environmental fine from the Kashagan oil consortium, according to Interfax, easing a threat to Exxon Mobil, which holds a 16.81% stake in the project. Exxon's shares traded virtually flat at $159.55. The fine, which Exxon's share would theoretically amount to about $851 million, represents less than 5% of the company's latest quarterly free cash flow of $17.2 billion. However, the consortium, which also includes Shell and TotalEnergies, continues to reject Kazakhstan's sulfur-storage claims, and international arbitration keeps the wider dispute alive. The suspension buys time but does not eliminate political risk for Kashagan's expansion.

TotalEnergies gained 1.5% to 77.27 on Monday after announcing it will sell a 9.1-percentage-point stake in Papua LNG to existing partners, reducing its ownership from 29.1% to 20% and handing project control to Exxon Mobil. The company retains access to gas without carrying the same construction burden. Design revisions and fresh contract bids have cut projected development costs by nearly $4 billion to roughly $14 billion. Papua LNG is designed to produce 5.6 million tonnes annually, primarily for Asian customers, while TotalEnergies retains 1.5 million tonnes of yearly offtake. The partners aim for a final investment decision in the fourth quarter. TotalEnergies' theoretical share of the budget drops from about $4.07 billion to $2.8 billion, reducing its exposure by roughly $1.27 billion before adjustments. The shares trade 39.71% above their $63.41 GF Value estimate, and with $9.8 billion of second-quarter cash flow, the company can fund its remaining commitment.

Iraq's new Prime Minister Ali al-Zaidi has announced plans to raise oil production to between 8 million and 10 million barrels per day within six years, a target that may finally be achievable and could allow Iraq to surpass Saudi Arabia as the Middle East's top oil producer. Iraq's crude output averaged 2.38 million bpd from 1973 until 2026, and was 4.14 million bpd before the Strait of Hormuz blockade began in February, while Saudi Arabia averaged 8.29 million bpd over the same period and produced 10.1 million bpd pre-blockade. Key factors supporting Iraq's goal include its vast reserves—officially 145 billion barrels, with undiscovered resources estimated at 215 billion barrels and ultimately recoverable resources at 246 billion barrels—and a recent decline in corruption that had driven Western firms away, with several now returning. Most critically, TotalEnergies' US$27-billion mega-project, ratified in 2023, will boost associated gas capture, increase Ratawi oil field output from 60,000 to 120,000 bpd initially, and implement the Common Seawater Supply Project to stabilize pressure at major fields. A back-of-the-envelope calculation based on super-giant fields alone suggests potential output of 11.5 million bpd, excluding other fields and Kurdistan, making the new target look realistic.

TotalEnergies has taken major steps toward a final investment decision on the Papua LNG project in Papua New Guinea, cutting estimated capital expenditure to around $14 billion and agreeing to transfer operatorship to ExxonMobil. The French energy major said project optimization and new engineering, procurement and construction tenders have generated close to $4 billion in cost savings since 2024, including changes to the upstream condensate development and increased integration with existing PNG LNG infrastructure. ExxonMobil will become operator of Papua LNG, expanding its role in the country's LNG sector, and will hold a 34.1% stake, while TotalEnergies will sell a 9.1% interest to partners, reducing its stake to 20%. Santos will own 21%, ENEOS Xplora 2.4%, and PNG state entities Kumul Petroleum and MRDC a combined 22.5%. The partners have also finalized amendments to the 2019 gas agreement with the government, and TotalEnergies and PNG state entities have created an LNG marketing joint venture to commercialize 2.4 million tonnes per year from the project's planned total production of 5.6 million tonnes per year. TotalEnergies has signed a heads of agreement to purchase 1.5 million tonnes per year from that venture. The moves bring the project closer to an FID, which Santos said remains on track for the fourth quarter of 2026.

Piper Sandler has lifted its price target on Chevron to a Street-high $243 from $207, part of a broader round of estimate increases across its integrated oil and refiner coverage driven by stronger crude and refining margins. The firm kept its overweight rating on the stock. Analyst John Royall raised the third-quarter Brent forecast to $88 per barrel from $80, and the fourth-quarter forecast to $90, citing continued supply issues on the diesel side lasting well into next year. The changes pushed Piper Sandler's estimates about 12% and 27% ahead of Wall Street's 2026 third-quarter and 2027 EBITDA forecasts for the majors, and roughly 15% and 36% above consensus for the refiners. Piper Sandler also lifted price targets for BP to $46, MPC to $462, PSX to $264, SHEL to $100, TTE to $93, VLO to $435, and XOM to $185.

For the first time in Europe, Germany is bringing together the full ecosystem needed to scale hydrogen truck deployment by 2030, as Volvo Group, Daimler Truck, Toyota Motor Corporation, Bosch, Air Liquide, TotalEnergies, TEAL Mobility, and MB Energy join forces with German policymakers to commercialize hydrogen-powered mobility. The collaboration will deploy hydrogen refueling stations along key strategic corridors in Europe, synchronized with hydrogen-powered truck fleets and a competitive hydrogen price, enabling customers to achieve a competitive total cost of ownership. Full details will be unveiled at a CEO-led press event during IAA Transportation in Hanover on September 15.

TotalEnergies has completed its transaction with Galp, acquiring a 40% operated interest in Namibia's PEL83 license, which holds the giant Mopane discovery, while Galp received a 10% participating interest in PEL56 and a 9.39% interest in PEL91. Following the deal, TotalEnergies now operates PEL83 with 40% alongside Galp (40%), Namcor (10%), and Custos (10%), and also operates PEL56 with 35.25% and PEL91 with 33.09%. CEO Patrick Pouyanné called the entry a key milestone toward establishing a major production hub in Namibia, positioning TotalEnergies as operator of the country's two largest oil discoveries. Appraisal of Mopane is set to begin in the second half of 2026, with a final investment decision targeted for 2028 after a three-well campaign.

TotalEnergies SE has disclosed the purchase of its own shares from August 24 to August 28, 2026, totaling 1,594,110 shares for an aggregate amount of 119,999,831.31 euros, with a daily weighted average purchase price of 75.277008 euros per share. The transactions were executed across four trading venues, including XPAR, CEUX, TQEX, and AQEU, with the largest volumes traded on XPAR. These repurchases were conducted under the authorization granted by the shareholders' general meeting on May 29, 2026, and in accordance with applicable share repurchase laws.

TotalEnergies gained about 2% to $88.08 in U.S. trading Monday as Brent crude broke above $90, lifting energy stocks despite rising bond yields pressuring the broader European market. The company reported $9.8 billion in cash flow and $6 billion in adjusted net income for the second quarter, cut gearing to 13%, and raised its quarterly dividend 5.9% to 0.90 per share, a cash haul representing roughly 4.8% of its market value. However, shares trade 38.69% above the $63.51 GF Value estimate, indicating a hefty premium. Middle East disruptions cut average production by 210,000 barrels of oil-equivalent per day in the second quarter, and while higher crude helps, restoring output is key.

Brent crude oil prices have fallen from above $120 per barrel in late April to around $87 per barrel, as Gulf producers, particularly Kuwait, Qatar, the United Arab Emirates, and Saudi Arabia, have cooperated to address tight supply using a shuttling technique—short-haul transport through the Strait of Hormuz to safe points in the Gulf of Oman, where oil is transferred ship-to-ship to conventional tankers. The UAE was the first to adopt this, followed by Saudi Arabia, Kuwait, and Qatar. Kuwait used its own fleet of 11 VLCCs, disabling positioning signals for over two months to conceal their movements, while Qatar partnered with TotalEnergies for ship-to-ship transfers outside the strait. As a result, the volume of oil flowing through the Strait of Hormuz has recovered to 7-8 million barrels per day, or about 75% of pre-war levels, with some periods reaching nearly 10 million barrels per day. Kuwait and Qatar have managed to restore up to 70% of their normal export volumes, from a combined baseline of about 2 million barrels per day. This success has helped ease panic in global energy markets and maintain oil price stability, despite ongoing security risks in the Strait of Hormuz and stalled negotiations between Tehran and Washington.

TotalEnergies has agreed to acquire Shell's entire onshore renewables business in Europe, marking a significant expansion of its Integrated Power activities. The deal adds European onshore solar, wind, and battery projects planned through late 2026, deepening TotalEnergies' role as a vertically integrated power utility. Separately, the company completed the transfer of its stake in Russia's Arctic LNG 2 project, finalizing its exit under international sanctions. These moves reshape TotalEnergies' mix between fossil fuels and renewables and adjust its exposure to Russia-related geopolitical risks. Investors should watch for regulatory approvals and closing terms for the Shell deal, as well as the roughly $1.3 billion Arctic LNG 2 shareholder loan reimbursement.

TotalEnergies SE repurchased 1,548,726 of its own shares from August 17 to August 21, 2026, at a total cost of 119,999,834.30 euros. The daily weighted average purchase price ranged from 76.005529 euros on August 17 to 78.416392 euros on August 20, with the overall average at 77.482934 euros per share. The buybacks were executed across multiple trading venues including XPAR, CEUX, TQEX, and AQEU, in accordance with shareholder authorization granted on May 29, 2026.

TotalEnergies SE is profitably moving crude through the Strait of Hormuz by buying Middle Eastern oil at steep discounts that more than offset higher shipping costs, CEO Patrick Pouyanne said. Crude from Iraq and Qatar is reportedly selling for around $50 to $60 a barrel while Brent trades above $90, creating a cushion that exceeds the roughly $10-a-barrel extra cost of sending a VLCC through the strait. Reuters reported that TotalEnergies made more than $1 billion from major Middle Eastern crude trades earlier this year after its traders anticipated the worsening regional situation. The company plans to invest in alternative export infrastructure, including the Baghdad-Syria pipeline and an expansion of the UAE's Habshan-Fujairah pipeline, which currently handles about 1.8 million barrels per day and could double in capacity.

ADNOC has awarded McDermott a contract worth more than $1 billion for a major offshore pressure-boosting facility at Abu Dhabi's Umm Shaif field. The engineering, procurement, construction and installation contract covers Package 4 of ADNOC's Umm Shaif Integrated Gas Cap and Surface Pressure Boosting Project, with McDermott and its Qingdao McDermott Wuchuan consortium to construct and install a new jacket and topside while modifying existing offshore infrastructure. McDermott classified the award as a mega contract exceeding $1 billion and said the completed topside will be among the heaviest offshore modules ever installed in the Middle East. The contract follows ADNOC's $6.2 billion final investment decision in July to develop the Umm Shaif Gas Cap alongside TotalEnergies, Eni and China National Petroleum Corporation, with the wider project including three EPC contracts worth a combined $5.1 billion and a 14-well drilling program. ADNOC expects the development to unlock more than 600 million standard cubic feet per day of natural gas and associated liquids, equivalent to roughly 10% of current UAE domestic gas consumption, with first production targeted for 2030.

APA Corporation outlined a strategy targeting roughly $700 million in lower annual cash costs by 2027 and more than 5% annual oil growth over the next three years. Speaking at the EnerCom conference, CFO Ben Rodgers said the company expects $500 million in structural savings and $175 million in reduced interest expense, while generating $1.2 billion in free cash flow in the first half of the year and using $750 million to repay debt. The Permian Basin and Egypt remain core cash-generating operations, with 2026 Permian production now forecast at 123,000 barrels per day on about $1.3 billion in capital spending, and gas-trading operations expected to generate approximately $950 million in cash flow this year. Growth will be led by the Gran Morgu offshore Suriname project, operated by TotalEnergies as APA's 50/50 partner in Block 58, which is expected to begin production in mid-2028 with a 220,000-barrel-per-day FPSO and a projected breakeven of $30 per barrel. APA also plans exploration wells in Alaska and offshore Uruguay, and intends to fund exploration from cash flow rather than relying solely on acquisitions.

TotalEnergies SE repurchased 1,587,998 of its own shares from August 10 to August 14, 2026, for a total of €119,999,831.47. The daily weighted average purchase price across the five sessions was €75.566740 per share. The buybacks were executed on the XPAR, CEUX, TQEX, and AQEU markets under the authorization granted by the shareholders' general meeting on May 29, 2026.

The U.S. government has reached agreements worth approximately $3.9 billion with TotalEnergies, Bluepoint Wind, Golden State Wind, Invenergy, Duke Energy and RWE to relinquish offshore-wind leases and invest comparable sums largely in natural gas, LNG or oil. The latest deal provides RWE with $1.22 billion to surrender leases off New York, California and Louisiana, with RWE investing $900 million in Louisiana LNG infrastructure and reserving $300 million of gas turbines for peaking plants. TotalEnergies committed $928 million to LNG, oil and gas investments before becoming eligible for dollar-for-dollar reimbursement, while Bluepoint Wind redirected up to $765 million into LNG and Invenergy's $765 million is going mainly to gas-fired plants. The settlements make reimbursement conditional on investment in politically preferred technologies, effectively socializing the cost of retreat and narrowing future energy options. Critics argue the move removes a hedge against gas-price volatility and risks losing industrial capability in offshore wind, even as U.S. developers plan record solar and battery additions in 2026.

TotalEnergies and Eni have taken a final investment decision to develop the Cronos offshore gas field in Cyprus as a new LNG project. The development will use existing gas infrastructure in Egypt, including the Damietta LNG terminal, to accelerate exports to Europe and reduce carbon intensity. The project is designed with potential for additional phases that could expand LNG supply from the field over time, with a start-up target of 2028.

The war in Iran has triggered a new global refining boom, sending refining margins to record highs and driving the strongest second-quarter earnings for Big Oil since the 2022 Russian invasion of Ukraine. Refining margins for gasoline and diesel hit new records amid Middle East escalation, Russia's diesel export ban, and low global fuel inventories, with Shell's global indicative refining margin rising to $24 per barrel from $17 in the first quarter. Shell more than doubled its second-quarter earnings year-over-year, TotalEnergies' adjusted net income jumped 68% to $6 billion, and U.S. supermajors ExxonMobil and Chevron reported their highest earnings in years, drawing criticism from President Donald Trump. Chevron achieved record refinery throughput of over 1 million barrels per day, while Exxon's CEO expects continued very robust refining margins. Even if supply disruptions ease, low inventories and restocking needs could support the global refining complex for several more quarters.

Brent crude fell back to around $80 per barrel after renewed optimism over a potential US-Iran draft agreement eased geopolitical fears, even as President Trump criticized US refiners for high fuel profits. Comments from US Treasury Secretary Scott Bessent and Qatar's Foreign Ministry about a draft agreement being drafted buoyed hopes for a diplomatic resolution to the US-Iran conflict. Trump accused ExxonMobil and Chevron of making too much money and told them to give some of that money back to the public, while the 3-2-1 spread has doubled since early March to $60 per barrel. The average US gasoline pump price has dipped to $4.08 per gallon as of August 4, up 30% from a year ago. Separately, Shell agreed to sell its European onshore renewables portfolio to TotalEnergies, BP completed the divestment of its Gelsenkirchen refinery in Germany, and SOCAR bought out Itochu's 3.65% operating interest in the Azeri-Chirag-Guneshli offshore field.

BP said Tuesday that its net profit more than doubled in the second quarter to $3.91 billion, up from $1.62 billion a year earlier, as the Middle East war roiled oil and gas markets. Total revenue increased 47 percent to $70 billion, while a core profit measure that strips out certain items more than doubled to $5.7 billion, outperforming expectations. The five biggest Western energy majors—BP, Chevron, ExxonMobil, Shell and TotalEnergies—reported combined net profits of almost $47 billion in the quarter. BP also raised its quarterly dividend by four percent and announced plans to sell its North Sea business and its US biogas business Archaea.

Shell has agreed to sell its European onshore renewables portfolio to TotalEnergies as part of a strategy to high-grade its power business. The portfolio includes roughly 0.5 gigawatts of combined renewable generation capacity in operation and under development, plus a pipeline of future projects across Italy, the Netherlands, Spain and the UK. Financial terms were not disclosed, and the deal is expected to close by the end of 2026 pending regulatory approvals. Shell said the move aligns with its 2025 Capital Markets Day plan to focus on asset-backed power trading, flexible generation, and customer energy services while maintaining capital returns.

Namibia is rapidly emerging as Africa's next major oil producer while neighboring South Africa, which controls roughly two-thirds of the same Orange Basin petroleum province, remains years behind in developing essentially the same petroleum system. TotalEnergies' deepwater Venus Project in offshore Namibia now targets an initial production capacity of roughly 150,000 barrels of oil per day, with first oil aimed for 2030, and the Venus-1X discovery is estimated to contain 1.5 billion barrels of light crude and 4.8 trillion cubic feet of gas. TotalEnergies has also taken over operations of the massive Mopane discovery from Portugal's Galp Energia. Last month, Shell and its JV partners reported a major oil discovery at the Merlin-1X exploration well within Petroleum Exploration Licence 39, with recoverable reserves estimated at 750 million barrels for Phase 1, marking a critical turnaround after a $400 million impairment earlier in 2025 on older discoveries. Namibia's rapid ascent has been driven by a stable, single-window regulatory model that allows exploration and appraisal permits to be secured within three to nine months, while South Africa's overlapping regulatory authority and prolonged approval processes can stretch permitting timelines to as long as five years, compounded by ongoing environmental litigation that has blocked projects.

TotalEnergies subsidiary Hutchinson Industries has won a firm-fixed-price contract worth up to $191.6 million to supply wheel and tire assemblies to the U.S. Army. The contract, awarded by the Defense Logistics Agency Weapons Support, has a five-year ordering period ending August 2, 2031, and is funded through fiscal 2026 to 2031 Army Working Capital Funds.

TotalEnergies is acquiring Shell's onshore renewables portfolio in Europe and entering a partnership with KKR that will share ownership of these assets. The deal expands TotalEnergies' presence across several key European markets and is expected to bring its installed or under construction renewable capacity in Europe to nearly 10 gigawatts. The partnership model allows TotalEnergies to originate, operate, and partially recycle assets while maintaining balance sheet flexibility. The transaction aligns with the company's Integrated Power strategy, which focuses on electricity, renewables, and power trading alongside traditional hydrocarbons.

TotalEnergies is back in focus after a strong second quarter of 2026 and a final investment decision for the Cronos gas field offshore Cyprus. The stock has gained clear momentum, with a 30-day share price return of 15.93% and a year-to-date return of 36.22%, while the one-year total shareholder return stands at 58.05% and the five-year total shareholder return at 169.10%. Despite a 90-day decline of 3.62%, the shares have risen to €76.42, which remains below the average analyst target and some higher intrinsic estimates. According to the most followed narrative from composite32, TotalEnergies is seen as 13% undervalued, with a fair value of €88.29 based on a 75% weighting to discounted cash flow and 25% to peer multiples.

TotalEnergies and APA Corporation have approved the final investment decision for the deepwater GranMorgu project in Suriname's offshore Block 58, a development expected to generate up to $26 billion in fiscal income for the country. The project targets the Sapakara and Krabdagu discoveries, which hold an estimated 760 million barrels of recoverable crude oil, and will use a floating production, storage and offloading vessel with a capacity of 220,000 barrels per day, coming online in 2028. Staatsolie, Suriname's state-controlled energy company, acquired a 20% stake in GranMorgu, funded by a $1.6 billion loan and a March 2025 bond issue, while TotalEnergies and APA each retain 40%. Separately, in Block 52, operator Petronas holds an 80% working interest and Staatsolie 20%, with a final investment decision for the Sloanea field planned before the end of 2026 following eight discoveries in the Golden Lane. The oil is light and sweet, with API gravities of 34 to 37 degrees and low sulfur content, positioning Suriname to become a major oil producer and exporter.

Shell CEO Wael Sawan warned that oil and gas prices are headed higher over the longer term, driven by rising global energy demand and annual production declines of 5% to 7% from existing sources. Speaking at a Wall Street Journal conference, Sawan emphasized that clean energy alone will not be enough to meet growing demand, with oil and natural gas still accounting for 32% of global energy demand in 2025 according to the International Energy Agency. Shell is refocusing on its core oil business after a brief pivot toward clean energy, and its dividend is growing again with a yield of 3.6%. The article also highlights integrated energy peers ExxonMobil, Chevron, and TotalEnergies as solid options for investors seeking energy exposure, noting Chevron's 3.7% yield and TotalEnergies' 5% yield.