TotalEnergies Oil Production Bolstered in Brazil with Mero Field-Strike
TotalEnergies SE (NYSE:TTE) is on the cusp of increasing its oil production by 3% per year between 2024 and 2030. That was evident after the oil major announced its first oil from a fourth development of its Mero field on the Libra block in Brazil on May 27. Mero-4 is the new phase well that connects 12 wells to the new Alexandre de Gusmão FPSO (Floating Production, Storage and Offloading) unit.
A engineer overseeing a exposed network of pipelines connected to tanks at an oil refinery.
With a production capacity of 180,000 barrels of oil per day, the new project is poised to bring Mero's production capacity to 770,000 b/d. It would be a significant addition, considering TotalEnergies average production in 2024 stood at 153,000 barrels a day.
The Mero 4 project is also designed to ensure minimal greenhouse gas emissions while delivering oil at the lowest cost. Consequently, the Mero 4 project is expected to generate significant free cash flow to bolster TotalEnergies balance sheet. In addition to bolstering oil production in Brazil, TotalEnergies is also investing in renewable energy as it seeks to diversify its revenue source. In partnership with Casa dos Ventos, the company is in the process of developing a 12GW renewable energy portfolio that includes onshore wind, battery storage, and photovoltaic.
TotalEnergies SE is an integrated energy company that produces and markets oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables, and electricity.
While we acknowledge the potential of TotalEnergies SE (NYSE:TTE) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TTE and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: and .
Disclosure: None.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
35 minutes ago
- Yahoo
Experts uncover unexpected benefits of combining solar panels with livestock: 'Enough ... energy to power 70,000 homes'
The Myrtle solar farm in Brazoria County, Texas, is a shining example of sustainability that spans 2,400 acres of former pasture land and eliminates the need for fuel-powered lawnmowers. The facility, which was completed in 2023, is one of many renewable energy projects that have helped keep the state in the top three for installed solar capacity, alongside California and Florida. It is run by TotalEnergies, a Paris-based oil company, and features 705,000 photovoltaic cells and a herd of grass-munching sheep to help maintain the landscape, according to a report by ABC13. "Myrtle renewable power plant consists of two parts. One is a solar power plant of 380 megawatts that is generating enough clean and clear energy to power 70,000 homes," said Ahmed Sari, a construction manager who oversaw the project and spoke to the outlet. The solar power plant is complemented by a 225-megawatt battery storage system that's connected to support the local electrical grid as needed. These are crucial to expanding renewable resources such as solar and wind, helping store energy for use during peak demand hours. Agrivoltaics is a term used to describe the combination of solar power and farming, which frequently produces harmonious results. Many of these facilities use the shade provided by solar panels to give solace to crops and livestock while fostering natural habitats for pollinators. "We have sheep grazing under the solar panels in order to control vegetation in a very sustainable manner," said Marie Maitre, Total's external communications manager, per the report. The sheep get to enjoy a considerable amount of grazing land and shade, and groundskeepers don't need to use gas-guzzling lawnmowers or dangerous pesticides. This reduces maintenance costs, potentially lowering rates for consumers. Solar and wind installations accounted for 97.8% of all new U.S. electrical capacity in the first quarter of 2025, while dirty fuels such as gas and oil made up the meager difference, proving that the shift to more sustainable energy sources is gaining traction. Tesla and Honda have made deals to power their local operations with solar power generated in the state, and a new photovoltaic facility began production earlier this year. Do you think solar panels are an eyesore? Absolutely not Only in certain areas They always look bad I don't have an opinion Click your choice to see results and speak your mind. Recent data showed that Texas has nearly 80% more solar, wind, and battery capacity combined than California, although the Golden State may have an edge in solar installations alone. A little competition can only help in our quest to shift to sustainable energy and ditch pollution-generating alternatives. "We are going to need all the energy types that we can have in order to meet the growing demand for energy of our growing world population," Maitre concluded. Join our free newsletter for weekly updates on the latest innovations improving our lives and shaping our future, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
37 minutes ago
- Yahoo
Why First Majestic Silver Corp. (AG) Soared On Thursday
We recently published a list of . In this article, we are going to take a look at where First Majestic Silver Corp. (NYSE:AG) stands against other best-performing stocks on Thursday. First Majestic Silver extended its winning streak to a fifth straight day on Thursday, jumping 15.52 percent to close at $8.41 apiece as snapped up shares in the company following the surge in silver prices. Silver futures rose to as high as $36.27 per troy ounce at intra-day trading on Thursday, its highest since 2012, before closing lower to $35.81 per troy ounce. Silver prices grew alongside gold, as investors' funds flocked to safer assets anew to mitigate the risks from the ongoing trade tensions between the US and China. An open-pit mine framed by a mountain range, highlighting the company's vast mining concessions. In recent news, First Majestic Silver Corp. (NYSE:AG) discovered a new gold-silver deposit called Sto. Nino, one kilometer away from the Santa Elena mining property in Sonora, Mexico. Additionally, it was able to raise the production of its Navidad deposit at the same site following the success of its drilling operations. First Majestic Silver Corp. (NYSE:AG) said that the addition of Navidad and Sto. Nino raised the number of its hosted production sites to four, the others being Sta. Elena and Ermitano. 'The Santo Niño discovery marks yet another exciting milestone for the district, and the drilling shows the vein remains open for expansion in most directions. At the same time, step-out drilling at the Navidad Discovery continues to intercept exceptionally high-grade mineralization and expand the resource envelope,' said First Majestic Silver Corp. (NYSE:AG) President and CEO Keith Neumeyer. Overall, AG ranks 3rd on our list of best-performing stocks on Thursday. While we acknowledge the potential of AG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
37 minutes ago
- Yahoo
Why Oscar Health, Inc. (OSCR) Soared On Thursday
We recently published a list of . In this article, we are going to take a look at where Oscar Health, Inc. (NYSE:OSCR) stands against other best-performing stocks on Thursday. Oscar Health snapped a five-day losing streak on Thursday, jumping 10.6 percent to close at $15.65 apiece as investors resorted to bargain-hunting while waiting for more concrete developments on the Trump administration's Medicare Advantage review. Earlier this year, lawmakers passed a $5-trillion tax-and-spending package that shaves as much as $900 billion in Medicaid, which servers over 70 million low-income households. A close up of a patient and a healthcare professional engaging in conversation, showing the company's commitment to patient care. Now, Senate Republicans to broaden savings by looking for supposed inefficiencies in the Medicare program for senior citizens. In the first quarter of the year, Oscar Health, Inc. (NYSE:OSCR) registered a 55-percent increase in attributable net income of $275 million versus the $177 million registered in the same period last year. Revenues rose by 42 percent to $3.046 billion from $2.142 billion year-on-year. Overall, OSCR ranks 5th on our list of best-performing stocks on Thursday. While we acknowledge the potential of OSCR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
