TotalEnergies SE

TTE

FR0000120271

Integrated Oil & Gas

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TotalEnergies: withdrawal from an offshore block in South Africa

July 29, 2024 at 02:44 am

Following partner CNRI's decision to withdraw from Block 11B/12B, TotalEnergies has also announced its withdrawal from this block off the South African coast, in which its local subsidiary holds a 45% interest.

TotalEnergies entered this block in 2013, making two gas discoveries that could not be converted into commercial development due to difficulties in developing and valorizing these discoveries on the South African market.

The French energy giant adds that it has also decided to withdraw from offshore exploration block 5/6/7, in which its subsidiary TotalEnergies EP South Africa holds a 40% interest.

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Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	DOW JONES SOUTH AFRICA(ZAR)	2,248.19 PTS	+1.27%	+2.72%	-
	TOTALENERGIES SE	62.65 EUR	+2.32%	+2.86%	157B

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Company Profile

TotalEnergies SE is one of the leading worldwide oil groups. Net sales break down by activity as follows: - refining and chemistry (42.7%): refining of petroleum products (operated, at the end of 2023, 16 refineries throughout the world) and manufacture of basic chemistry (olefins, aromatics, polyethylene, fertilizer, etc.) and of specialty chemistry (rubber, resins, adhesives, etc.). The group is also operating in trading and sea transport of crude oil and oil products; - petroleum products distribution (37.9%): at the end of 2023 operated 14,571 service stations worldwide; - electricity generation (11.5%): from combined cycle gas plants and renewable energies; - gas production, trading, transport and distribution (5%): primarily liquefied natural gas (44.3 million tonnes sold in 2023), natural gas, biogas, hydrogen, liquefied petroleum gas, etc.; - hydrocarbon operating and production (2.8%): 2.5 million barrels of oil equivalent produced per day in 2023; - other (0.1%). Net sales are distributed geographically as follows: France (23.4%), Europe (41.2%), North America (9.4%), Africa (9.2%) and other (16.8%).

Employees

102,579

Sector

Integrated Oil & Gas

Calendar

2024-09-24 - Détachement de for dividende intermédiaire

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