TotalEnergies to shift $1bn from US offshore wind to oil and gas [Yahoo! Finance]
TotalEnergies SE Ordinary Shares (TTE)
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Source: Yahoo! Finance
The decision follows an agreement with the US Department of the Interior (DoI) allowing TotalEnergies to abandon its previous offshore wind leases and focus on more cost-effective natural gas projects. Under the terms of this agreement, the US will reimburse TotalEnergies for its lease payments on two offshore wind projects. The Carolina Long Bay lease, executed in June 2022, involved a payment of $133m, while the New York Bight lease required a payment of $795m in May 2022. In exchange for relinquishing these leases, TotalEnergies plans to invest an equivalent amount into US oil, natural gas and liquefied natural gas (LNG) production. This year, the company will invest $928m in projects including the development of Trains 1 to 4 at the Rio Grande LNG facility in Texas and expansion of conventional oil and shale gas activities in the Gulf of Mexico. TotalEnergies Board of Directors' chairman and CEO Patrick Pouyanné said: “TotalEnergies is pleased to sign this settlement ag
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News
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- Director/PDMR Shareholding [Yahoo! Finance]Yahoo! Finance
- Director/PDMR Shareholding [Yahoo! Finance]Yahoo! Finance
- TotalEnergies Beats 2025 Emissions Targets in Transition Push [Yahoo! Finance]Yahoo! Finance
TTE
Earnings
- 10/30/25 - Miss
TTE
Sec Filings
- 3/27/26 - Form IRANNOTICE
- 3/27/26 - Form 20-F
- 3/9/26 - Form SCHEDULE
- TTE's page on the SEC website