TotalEnergies SE

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.

ExxonMobil and Chevron are set to report blowout second-quarter profits Friday, with ExxonMobil projected to post $14.9 billion and Chevron $11.1 billion, more than double and quadruple year-ago levels respectively. The surge reflects the US-Iran war's closure of the Strait of Hormuz, which has created an unprecedented supply shock, lifting crude and natural gas prices and boosting refining margins. US gasoline prices have climbed back above $4 a gallon, reaching $4.10 on Thursday, about 31 percent higher than a year ago, according to the American Automobile Association. The high prices are testing public patience and have drawn criticism from President Donald Trump, who in June directed the Department of Justice to investigate potential industry gouging. European peers Shell and TotalEnergies also reported staggering results, with Shell's profits tripling to $10.8 billion and TotalEnergies' doubling to $5.4 billion.

Shell reported adjusted earnings for the second quarter of 2026 at 9.84 billion US dollars, the figure the company uses as its definition of net profit, surging more than twofold from the same period a year earlier and exceeding market expectations of 8.92 billion US dollars. That compares with 4.26 billion US dollars in the second quarter of 2025. The strong performance was driven by higher oil and natural gas prices, standout growth in oil and liquefied natural gas trading profits, and a recovery in chemicals margins, even as sales volumes declined due to disrupted operations in Qatar stemming from the Middle East conflict. Shell and other major energy companies have benefited from the US-Israel war with Iran, which has pushed up energy prices and increased volatility, opening opportunities for the large trading businesses of Shell, BP, and TotalEnergies to boost profits. In addition, Shell announced it will proceed with a share buyback programme worth 3 billion US dollars over the next three months.

TotalEnergies reported second-quarter adjusted net income of $6 billion, up 67% year-over-year, driven almost entirely by Iran war disruptions that lifted crude and gas prices and boosted European refining margins. Refining and chemicals income rose 362% to $1.8 billion, while exploration and production earnings climbed 64% to $3.2 billion. The company also took a final investment decision with Eni on the Cronos gas field off Cyprus, targeting 2.8 million tons a year of LNG production starting in 2028, and secured an EU exemption allowing it to keep supplying Asian buyers from its Yamal LNG stake under pre-invasion contracts. Analysts remain split, with TD Cowen raising its price target to $105 and Mizuho initiating with a $103 target, while Piper Sandler started coverage at Neutral with an $85 target.

TotalEnergies and Eni have taken the final investment decision for the Cronos gas field offshore Cyprus, the country's first gas development. Production is expected to start in 2028, reaching a plateau of around 500 million cubic feet per day, equivalent to about 2.8 million tons of LNG per year. The gas will be transported via subsea pipeline to Egypt's Damietta LNG terminal for liquefaction and export to Europe, with TotalEnergies marketing 50% of the LNG, or 1.4 million tons per year. The project leverages existing Egyptian infrastructure to accelerate development and reduce carbon intensity, and could support future appraisal of additional resources in Block 6.

TotalEnergies SE bought back 1,452,951 of its own shares from July 20 to July 24, 2026, spending a total of €107,480,382.91. The daily volume ranged from 161,392 shares on July 23 to 218,644 shares on July 24, with weighted average purchase prices climbing from €70.97 on July 20 to €76.10 on July 23 before easing slightly to €76.07 on July 24. The transactions were executed across multiple venues, with the bulk of each day's volume traded on XPAR and additional lots of 80,000, 10,000, and 20,000 shares on CEUX, TQEX, and AQEU respectively. The repurchases were carried out under the authorization granted by the shareholders' general meeting on May 29, 2026.

European stock markets closed with their biggest decline in more than two weeks on Thursday, with the STOXX 600 index falling 1.18% to close at 639.27 points, pressured by disappointing earnings, hawkish remarks from the European Central Bank, and a surge in crude oil prices. France's CAC-40 dropped 1.64% to close at 8,299.09 points, Germany's DAX fell 1.56% to 24,763.12 points, and London's FTSE 100 declined 0.73% to 10,639.17 points. Although the ECB held interest rates steady, comments from President Christine Lagarde led investors to see a chance of a rate hike in September. Meanwhile, Brent crude futures surged to 100 US dollars per barrel for the first time since May after Houthi forces attacked a Saudi oil tanker in the Red Sea, pushing energy stocks up 1.54%. However, food and beverage stocks tumbled 4.1%, with Nestlé plunging nearly 8%, its biggest drop since 1989, after announcing the sale of some of its water and premium beverage businesses to Platinum Equity. Technology stocks fell 2.9%, led by STMicroelectronics which slumped 17.7% after forecasting third-quarter revenue below expectations, and BE Semiconductor which dropped 7.3% after reporting second-quarter results. In contrast, Soitec surged nearly 22% after revenue beat estimates. TotalEnergies rose 2.5% on its strongest quarterly results in nearly three years, and easyJet gained 2.7% despite a 70% drop in third-quarter profit.

Global insurers are slashing premiums for upstream energy projects outside the Middle East by as much as 50% as they compete for business away from the war-torn region. Premiums for such projects have tumbled about 25% year to date, according to insurance brokers, with some insurers cutting rates even at a short-term loss. The Iran war and the Strait of Hormuz crisis have driven Big Oil firms to pursue exploration and development in basins like Guyana, Suriname, Namibia, Brazil, Turkey, and Cyprus, prompting insurers to vie for a shrinking pool of non-war-zone upstream ventures. WTW's Energy Market Review 2026 noted that ratings are 'through the floor,' with 15–20% reductions available for core upstream risks and 40%+ cuts in exceptional cases. The industry created $54 billion of value from exploration between 2021 and 2025 under a $65-per-barrel Brent price, a figure that more than doubles to $120 billion at $85 per barrel, according to Wood Mackenzie.

Halliburton enters the second half of 2026 with a stronger international growth case, supported by contract momentum and technology adoption. The company reported $3.4 billion in international revenues in the second quarter, its highest second-quarter international level in more than a decade, and expects low double-digit international growth in 2026 outside the Middle East. Recent awards include a multi-year Kuwait Oil Company agreement, an integrated field management contract in Iraq, unconventional drilling work in Algeria, and long-term projects in Saudi Arabia's Jafurah field, along with offshore contracts for TotalEnergies' GranMorgu development offshore Suriname. Technology deployments such as ZEUS IQ, LOGIX automation, and closed-loop drilling are improving margins and operational performance. Near-term risks remain from geopolitical conditions in the Middle East and uneven revenue trends, with third-quarter guidance indicating flat to down 2% for Completion and Production revenues and a 3-5% decline for Drilling and Evaluation revenues. The stock carries a Zacks Rank #3 (Hold), reflecting a balance between improving momentum and incomplete earnings visibility.

France's CAC 40 index advanced firmly on Wednesday morning, gaining 61.00 points or 0.73% to 8,424.14, even as U.S.-Iran tensions escalated and oil prices surged. Brent crude futures jumped $4.00 or 4.41% to $95.02 after the U.S. military carried out its 11th consecutive night of strikes against Iran and President Trump vowed to bomb Pickaxe Mountain, while Iranian media reported explosions in Bushehr near the nuclear power plant. Airbus rallied nearly 6% after announcing a €5 billion share buyback program over three years and reaffirming its fiscal 2026 outlook of around 870 commercial aircraft deliveries and adjusted EBIT of around 7.5 billion euros. TotalEnergies gained about 2% on higher crude prices, and Engie also rose nearly 2%, while Danone dropped nearly 2% and Capgemini and Dassault Systemes eased by 1.2% and 1.1% respectively. Investors also awaited the European Central Bank's monetary policy announcement on Thursday.

Abu Dhabi National Oil Company has taken a final investment decision worth 22.6 billion dirhams, or 6.2 billion dollars, to develop the Umm Shaif Gas Cap offshore Abu Dhabi. The project, which involves international partners TotalEnergies, Eni, and China National Petroleum Corporation, is expected to deliver more than 600 million standard cubic feet per day of natural gas and associated gas liquids, representing nearly 10 percent of the UAE's current daily gas use, with output scheduled to begin by 2030. Three engineering, procurement and construction contracts worth 18.8 billion dirhams have been awarded for offshore infrastructure, and a 1.3 billion dirham drilling programme for 14 wells will be carried out by ADNOC Drilling over 18 months using three rigs. The decision is part of ADNOC's integrated gas strategy to meet rising global demand and expand its LNG platform, following the Supreme Council for Financial and Economic Affairs' approval of the Bab Gas Cap concession, which aims to unlock an additional 1.5 billion standard cubic feet per day of natural gas and related products.

President Trump's pledge to cut residential electricity prices by 50% within 18 months of his January 2025 inauguration was not met by the July 20, 2026 deadline, with rates instead rising 18% through April 2026 according to U.S. Energy Information Administration data. Over the most recent 12 months, rates climbed 7.3%, roughly double the inflation rate. Utilities filed $9.2 billion in rate-hike requests in the second quarter of 2026 alone, up 26% year-over-year, while PJM Interconnection's capacity auction for 2028–2029 delivery hit a record-tying $16.4 billion, with AI data centers adding an estimated $6 billion to those costs. Policy decisions such as tariffs on grid equipment and a nearly $1 billion payment to TotalEnergies to cancel offshore wind projects further constrained supply amid rising demand. The White House's March 2026 Ratepayer Protection Pledge has not yet affected rates, and independent analysts had long deemed the 50% reduction promise impossible given limited federal control over retail electricity pricing.

The global sustainable aviation fuel market is projected to reach $2.37 billion in 2026 and expand at a compound annual growth rate of 27.5% to $10.27 billion by 2032, according to a new report from ResearchAndMarkets.com. The study profiles 53 key players including Shell, BP, TotalEnergies, and Neste, and examines policies, technologies, production pathways, and regional dynamics shaping SAF adoption. Growth is driven by airline net-zero commitments, blending mandates, and emissions frameworks, while constraints include feedstock availability, certification requirements, and price premiums. The report highlights transformative shifts such as policy certainty, technology diversification beyond hydroprocessed esters and fatty acids into alcohol-to-jet and e-fuel pathways, and the increasing use of artificial intelligence across the SAF value chain for feedstock mapping, process optimization, and lifecycle assessment. Regionally, Europe remains the most policy-driven market, North America benefits from tax incentives and feedstock availability, and Asia-Pacific is gaining importance through rapid air traffic growth and refinery modernization.

TotalEnergies expects sharply higher downstream results and cash flow in the second quarter compared to the first quarter of 2026, driven by stronger refining and petrochemical margins and robust oil trading. The French supermajor said in an earnings preview that oil trading results are expected to remain at the same strong level as in the first quarter, while Exploration & Production cash flow is forecast to be about $1 billion higher. However, Integrated LNG results and cash flow are expected to decrease significantly due to underperformance in gas trading amid a flat to declining European market. The company also lowered its assessment of the impact of the Middle East conflict on production to around 210,000 barrels of oil equivalent per day, down from the 360,000 barrels per day guidance given last quarter, citing a ramp-up in offshore United Arab Emirates output and restarts in other regional countries during June. TotalEnergies is scheduled to report full quarterly earnings on July 23.

TotalEnergies has secured €440 million in debt financing for a large battery energy storage portfolio in Germany and awarded Halliburton a long-term drilling contract for its GranMorgu offshore project in Suriname. The financing supports the company's European clean energy infrastructure, while the drilling contract advances its global upstream activity. TotalEnergies shares trade at €71.2, with a year-to-date return of 26.9% and a five-year gain of 172.8%. The stock is down 6.8% over the last 30 days and trades about 16% below the analyst target of €84.58.

TotalEnergies has secured approximately €440 million, equivalent to $501.6 million, in debt financing for a portfolio of 11 battery energy storage projects with a combined capacity of 789 megawatts in Germany. The financing was arranged by a syndicate of ten financial institutions, with law firm Watson Farley & Williams advising TotalEnergies on the arrangement. The projects were developed by Kyon Energy, a TotalEnergies subsidiary specializing in large-scale battery energy storage systems, and most will use battery technology supplied by Saft, another TotalEnergies subsidiary. This follows TotalEnergies' strategic alliance with Allianz Global Investors, formed through the sale of a 50% stake in the portfolio, a transaction on which Watson Farley & Williams also advised. With the completion of the financing, the transaction has been fully executed.

Halliburton has been awarded contracts to provide integrated drilling and completions services for the GranMorgu deepwater oil development offshore Suriname. The long-term program will use a digital and automation execution model with integrated workflows, real-time data, and remote operations control to improve well placement accuracy and reduce costs for operator TotalEnergies. GranMorgu, covering Block 58 with estimated recoverable reserves of approximately 760 million barrels, is operated by TotalEnergies with a 40% stake alongside partners APA at 40% and Staatsolie at 20%. Production is expected to start in 2028 using a floating production, storage and offloading unit with a capacity of 220,000 barrels per day. Halliburton will also upgrade its liquid mud and cement facility in collaboration with Surinamese suppliers.