TotalEnergies SE (TTE) Price

High Taxes Drive Consolidation as UK Oil Output Halves

A 78% marginal tax rate is driving a wave of defensive mergers in the UK North Sea as oil production has fallen by more than half since 2020.

BofA Backs Chevron As Oil Glut Fears Mount

Bank of America reiterated its "Buy" rating for Chevron (CVX) while trimming the price target to $180, signaling confidence despite a bearish outlook for oil. The endorsement is supported by a major project approval, contrasting with market-wide supply fears and internal leadership questions.

Maurel & Prom Expands Angola Offshore Position

Maurel & Prom, in a consortium with BW Energy, has agreed to acquire interests in two offshore Angolan oil blocks from Azule Energy for a base consideration of $195 million, signaling a strategic consolidation in the region.

TotalEnergies Acquires Stake in Repsol UK JV

TotalEnergies will acquire a 47.5% stake in Neo Next Energy, a joint venture between Repsol and HitecVision, creating a consolidated new entity in the UK offshore oil and gas sector. The deal is structured to enhance the financial strength and cash flow of the joint venture.

Natural Gas Prices Surge as Record U.S. LNG Exports Meet Aggressive European Demand