TotalEnergies Highlights Resilient LNG And Power Performance Amid Refining Challenges For Q4

TotalEnergies SE TTE shares are trading higher premarket on Thursday. The company announced that it expects its hydrocarbon production levels in the fourth quarter to slightly increase and within the guidance range of 2.4-2.45 Mboe/d.

Exploration & Production results are anticipated to reflect decline of $5/brent in oil prices, partially offset by higher gas realizations.

TotalEnergies expects Integrated LNG results to be driven by a 6% production increase, LNG prices above $10/Mbtu, and a rebound in gas trading to fourth-quarter 2023 levels.

Also, the company expects Integrated Power to be within $500 million – $600 million, leading to annual cash flow at par with guidance of over $2.5 billion.

The Downstream sector (refining and chemicals) remains weak, with results and cash flow expected to reflect a $10/t increase in European refining margins.

TotalEnergies expects to report fourth-quarter 2024 results on February 2.

Last week, TotalEnergies (45%, operator), along with partners Basra Oil Company (30%) and QatarEnergy (25%), began construction on ArtawiGas25, the first processing facility for associated gas from the Ratawi field in the Basra region.

Investors can gain exposure to the stock via Octane All-Cap Value Energy ETF OCTA and First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF EIPX.

Price Action: TTE shares are up 2.06% at $58.87 premarket at the last check Thursday.

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