Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. France
  4. Euronext Paris
  5. TotalEnergies SE
  6. News
  7. Summary
    TTE   FR0000120271

TOTALENERGIES SE

(TTE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Libya, TotalEnergies strengthens its presence and implements its multi-energy strategy

11/24/2021 | 09:51am EST

Paris - During the Libya Energy & Economy Summit, the first economic conference to take place in Libya in 10 years, initiated by the Government of National Unity, TotalEnergies signed with the Libyan authorities various agreements for the sustainable development of the country's natural resources.

These agreements aim to develop solar projects supplying electricity to the Libyan people and to invest in projects reducing gas flaring in oil fields in order to supply gas to power plants as well as to contribute to the national goal of restoring the country's oil production to 2 million barrels per day and supplying world markets.

Among the signed agreements is a Memorandum of Understanding between TotalEnergies and the General Electricity Company of Libya for the development of solar photovoltaic projects with a total capacity of 500 MW designed to supply electricity to the national grid.

Additionally, the Council of Ministers of the Government of National Unity approved the joint acquisition by TotalEnergies and ConocoPhillips of the 8.16% interest held by Hess in the Waha concessions, which will increase TotalEnergies' interest in these concessions from 16.33% to 20.41%. During the conference, TotalEnergies thus confirmed its willingness: to develop the production capacity of the Waha concessions, notably the 100 kbpd North Gialo project, representing a $2 billion investment, to invest in gas gathering projects to reduce flaring and supply power plants in the region and using solar energy to power Waha's industrial facilities.

'These agreements reflect TotalEnergies' willingness to strengthen its investments in Libya's energy sector. We aim to assist the country in building a more sustainable future through a better use of the country's natural resources, including solar energy, which will directly improve the accessibility of cleaner, more reliable and more affordable electricity to the Libyan people,' said Patrick Pouyanne, Chairman & CEO of TotalEnergies. 'We are thus leveraging our leadership position in the region, where the lowest-cost hydrocarbons are produced, to pursue our development in renewable electricity. These agreements further illustrate the sustainable development model of TotalEnergies, a global multi-energy company that supports producing countries in their energy transition.'

TotalEnergies in Libya

TotalEnergies has been present in Libya since 1954. In 2020, the Company's production was 43,000 boe/d. This production comes from the offshore Al Jurf field (TotalEnergies, 37.5%), the El Sharara onshore area (TotalEnergies, 15% on block ex-NC 115 and 12% on Block ex-NC 186) and the Waha fields (TotalEnergies, 20.41%, after the joint acquisition of Hess interest).

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

Contact:

Tel: +33 1 47 44 46 99 l

Email: presse@totalenergies.com

Cautionary Note

The terms 'TotalEnergies', 'TotalEnergies company' or 'Company' in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words 'we', 'us' and 'our' may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Information concerning risk factors, that may affect TotalEnergies' financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorite des Marches Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

(C) 2021 Electronic News Publishing, source ENP Newswire

All news about TOTALENERGIES SE
06:13aTotalEnergies Consortium Secures Rights for 2-GW Wind Project in Scotland
MT
05:35aOFFSHORE WIND : TotalEnergies, Green Investment Group and RIDG secure ScotWind leasing rig..
PU
05:33aCrown Estate Scotland offers 17 projects seabed rights for offshore wind
RE
05:24aTotalEnergies consortium wins leasing rights for major windfarm in Scotland
RE
04:22aTotalEnergies Logs Higher Q4 2021 Prices for Liquids, Gas, LNG
MT
03:15aTotalEnergies, Inpex Sell Angola Block 14 To Local Group
MT
03:09aTOTALENERGIES SE : Main indicators
BU
02:49aTotalEnergies to sell its interest in Block 14 in Angola
RE
02:45aANGOLA : TotalEnergies Sells Its Non-operated Interest in Block 14
BU
01/14TotalEnergies SE Appoints Thierry Pflimlin as President Marketing & Services, Member of..
CI
More news
Analyst Recommendations on TOTALENERGIES SE
More recommendations
Financials (USD)
Sales 2021 180 B - -
Net income 2021 15 708 M - -
Net Debt 2021 34 868 M - -
P/E ratio 2021 9,84x
Yield 2021 5,47%
Capitalization 147 B 147 B -
EV / Sales 2021 1,01x
EV / Sales 2022 0,87x
Nbr of Employees 105 476
Free-Float -
Chart TOTALENERGIES SE
Duration : Period :
TotalEnergies SE Technical Analysis Chart | TTE | FR0000120271 | MarketScreener
Technical analysis trends TOTALENERGIES SE
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 25
Last Close Price 56,54 $
Average target price 59,94 $
Spread / Average Target 6,02%
EPS Revisions
Managers and Directors
Patrick PouyannÚ Chairman & Chief Executive Officer
Jean-Pierre Gerard Claude Sbraire Chief Financial Officer
Marie-Noelle Semeria Chief Technology Officer
Patrick Artus Independent Director
Marie-Christine Coisne-Roquette Lead Independent Director
Sector and Competitors
1st jan.Capi. (M$)
TOTALENERGIES SE10.99%147 492
SAUDI ARABIAN OIL COMPANY2.65%1 960 210
ROYAL DUTCH SHELL PLC12.71%189 994
PETROCHINA COMPANY LIMITED11.53%145 319
PUBLIC JOINT STOCK COMPANY GAZPROM-3.22%102 796
EQUINOR ASA8.44%94 348