Latest news with #TotalEnergies
CNBC
3 hours ago
- Business
- CNBC
Oil giant Shell posts beat on profit despite sharp annual drop
Britain's Shell on Thursday reported better-than-expected second-quarter profit, amid a drop in global oil and gas prices. The energy giant posted adjusted earnings of $4.26 billion for the three months through June, beating analyst expectations of $3.87 billion, according to an LSEG-compiled consensus. A separate, company-provided analyst forecast had expected Shell's second-quarter profit to come in at $3.74 billion. Shell reported adjusted earnings of $6.29 billion over the same period last year and $5.58 billion in the first three months of 2025. The results come shortly after the London-listed firm flagged weaker trading results at its integrated gas division and losses at its chemicals and products arm. In March, Shell announced plans to prioritize shareholder returns, ramp up the cost of savings and double down on its liquified natural gas (LNG) push. The strategic update was designed to bolster its commitment to value creation, while maintaining focus on "performance, discipline and simplification." The plan appears to have been well received by investors. Shell's share price has outperformed many of its European and U.S. rivals so far this year, notching gains of 8%. By comparison, Britain's BP is up 3%, France's TotalEnergies is down 2% and Exxon Mobil is up 4% over the same period. Notably, Shell recently dismissed speculation about a possible takeover bid for BP, saying in late June that it had "no intention" of making an offer for its struggling domestic rival.
Zawya
14 hours ago
- Business
- Zawya
ExxonMobil Partners with African Energy Week (AEW) 2025 as Diamond Sponsor – Showcasing Major Investments, Youth Science, Technology, Engineering and Mathematics (STEM) Africa Initiatives, and Highlighting Women in Energy
As a Diamond Sponsor at AEW, ExxonMobil reaffirms its long-standing commitment to Africa's energy future through ambitious new investments, frontier exploration and impactful educational programs. The company will take a central role in shaping dialogue on the continent's upstream outlook, LNG development and the transition to more inclusive energy systems. As the world's largest publicly listed, private integrated energy company, ExxonMobil continues to be a leader in the frontier exploration space and deepen its footprint in Africa through a series of forward-looking, high-impact initiatives. In Nigeria, the company looks to make significant investment in the deepwater as part of a broader strategy to help increase national output. This comes on the heels of sustained production efforts at the Erha and Owowo fields, underlining the company's strategic focus on optimizing existing deepwater assets. Further south, ExxonMobil is maintaining production from the prolific Kizomba deepwater development in Angola's Block 15, where it recently signed a Production Sharing Contract (PSC) extension with the Angolan National Agency of Petroleum, Gas and Biofuels (ANPG), extending operations until 2037. The company also renewed its PSC for Block 17, in partnership with TotalEnergies to ensure continued production from key offshore Block 17 fields. In East Africa, ExxonMobil is making headway with the long-anticipated Rovuma LNG project in Mozambique's Area 4. The project – expected to reach a final investment decision in 2026 – aims to bring an additional 18 million tons per annum (MTPA) of LNG to market, building on Mozambique's emergence as a key global gas supplier. Beyond upstream operations, ExxonMobil is also investing in long-term capacity-building through the ExxonMobil Foundation's STEM Africa program. Launched in 2024, the program partners with Junior Achievement Africa to deliver immersive science, technology, engineering and mathematics (STEM) education to students in Nigeria, Namibia, Angola and Mozambique. In its first year alone, the program reached over 3,000 students – 96% of whom expressed interest in pursuing STEM careers. In recognition of its impact, STEM Africa was awarded the Local Impact Award at the Big Five Board Awards in London earlier this month. 'ExxonMobil's role as a Diamond Sponsor at AEW 2025 is a testament to their bold, future-focused investments – from revitalizing offshore oilfields in Nigeria and Angola to advancing LNG capacity in Mozambique and exploring new frontiers in Africa's Atlantic Coast,' states NJ Ayuk, Executive Chairman of the African Energy Chamber. 'Their STEM Africa initiative demonstrates an equally strong commitment to building local talent and empowering young Africans to lead tomorrow's energy industry. This is the kind of strategic partnership Africa needs.' AEW 2025: Invest in African Energies will provide a premier platform for ExxonMobil to engage with African governments, investors, and stakeholders as the continent accelerates toward energy security and industrial growth. With a broad and growing portfolio, ExxonMobil continues to lead Africa into its next era of energy development. Distributed by APO Group on behalf of African Energy Chamber. About African Energy Week: AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event.
Reuters
a day ago
- Business
- Reuters
Chinese refiner Yulong buys first Canadian TMX crude oil cargoes
SINGAPORE, July 30 (Reuters) - China's Shandong Yulong Petrochemical has bought its first Canadian crude oil cargoes exported via the Trans Mountain pipeline (TMX) for September and October delivery, trade sources said, as the new refiner diversifies its supplies. Yulong bought an Access Western Blend (AWB) cargo for September delivery at a discount of about $1.50 a barrel to November ICE Brent from Macquarie, two of the sources said, and another cargo for October delivery from Totsa at a similar discount to December ICE Brent. Each cargo is about 550,000 barrels. Yulong did not immediately respond to a Reuters' email seeking comment. Macquarie and TotalEnergies do not comment on commercial matters. These were Yulong's first purchases of Canadian oil since the new refiner started its 200,000 barrel per day crude processing last September. AWB is a type of heavy and highly acidic diluted bitumen produced by Canadian Natural Resources and MEG Energy. Yulong has also recently made a rare purchase of Russia's Urals crude, trade sources said. The refiner normally buys Russian Far East ESPO grade and West African crude, they said.
Euractiv
3 days ago
- Business
- Euractiv
Energy's quantum leap will power Europe's supercomputers
As big data centres and artificial intelligence generate continued transformations in all areas of society, there has been increasing attention paid to how much energy these supercomputing activities use. But what is less known is that these major computing operations are also changing how energy is generated. From optimising oil and gas exploration to accelerating breakthroughs in renewables and fusion energy, advanced computing is transforming how the energy sector operates. High-performance supercomputers capable of performing immense numbers of calculations per second are finding new applications in the sector. Traditionally, such computing power has been used to analyse massive seismic datasets, helping geologists locate new oil and gas reserves deep beneath the earth's surface. But today, supercomputers are tackling far more - simulating new battery chemistries, designing more efficient solar panels, and modelling carbon capture and storage projects that could trap millions of tonnes of CO₂ underground. Energy pioneers Much of the pioneering work in this area has been going on in Europe. For instance, Italian energy company Eni has, over the past decade, been making rapid advances on its supercomputers. For years, starting in the 1970s, Eni had used supercomputing on various fronts in its traditional businesses, from optimising the operation of industrial plants to simulating the behaviour of plasma in magnetic confinement fusion. But since 2013, Eni has equipped itself with successive generations of supercomputers housed in Eni's Green Data Centre in Ferrera Erbognone, near Pavia. 'On supercomputing, it's been a very long journey at Eni, continuing today, because we started many years ago,' says Dario Pagani, Head of Digital and Information Technology at Eni, and CEO of the company's joint venture Eniquantic. 'More than ten years ago, Eni was among the first companies to believe in the so-called 'hybrid' supercomputing architectures, those combining CPUs (Central Processing Units) with GPUs (Graphics Processing Units). GPUs, initially conceived only for massive parallel computing in gaming consoles, are now at the core of the most advanced supercomputers in the world. Eni has therefore had a pioneering vision on this, and we are now reaping the fruits in terms of competitive advantage and innovation possibilities.' Eni isn't alone in Europe in its interest in the supercomputing space. TotalEnergies in France has its Pangea supercomputers, which combine on-site high-performance computing with cloud. in Germany has developed quantum algorithms for weather-risk management by collaborating with the American computing company IBM. Iberdrola in Spain has developed quantum-inspired software via multiverse computing called Singularity, which is working to solve energy sector challenges like optimising power grids and improving generation planning. All of these projects combine classical simulation with quantum-ready algorithms. Onward to quantum While supercomputers tackle huge volumes of data at extraordinary speeds, quantum computers promise something more: solving problems that are practically impossible for even the biggest classical computers. Energy companies around the world are now investing in hybrid systems that combine quantum processors with traditional high-performance computing. This combination could unlock new ways to model complex chemical reactions, optimise power grids in real time, or predict maintenance needs across vast networks of pipelines and facilities. Quantum computing could also be a game changer for ambitions in nuclear fusion, the 'holy grail' of clean energy. Simulating the extreme physics inside a fusion reactor pushes classical computers to their limits - but quantum algorithms could help tackle challenges that stand in the way of viable commercial fusion. Across the sector, the implications are clear. From oil and gas majors to green energy pioneers, companies are investing heavily in digital twins, AI-powered reservoir modelling, and quantum pilot projects to refine exploration, cut emissions, and optimise trading operations. As global energy demand grows - and the push for net zero intensifies - supercomputers and quantum systems are fast becoming the unsung heroes behind the scenes. They're more than machines: they're the engines of a cleaner, smarter, and more sustainable energy future. Realities on the ground Last year Eni launched its new HPC6 system, which today ranks first in the world among supercomputers for industrial use, and the largest of any kind outside the US. It has a computing power of 606 PFlops peak (and 477 'sustained'), equal to over 600 million-billion complex mathematical operations per second. 'This is the sixth version of our HPC machine, and it has a huge amount of computational power,' says Pagani. 'The sheer power of the hardware is very important, and hardware can be provided by different suppliers according to the period, but what is even more important is having software that can perform as well as possible in this type of architecture.' He added: 'Therefore, in parallel with choosing the best hardware configurations that the supercomputing market can offer from time to time, we have been building highly specialised internal software skills to make best use of our computational power.' Eni is one of the few companies that has been building its machines rather than buying cloud computing services, which usually come from the United States. The code on which HPC6 runs started to be developed in the 1980s by Eni. Pagani says this is particularly important for Europe's energy security. 'My vision is that quantum computing could be very important for Europe, also to develop a new internet – a quantum internet,' he says. 'It's a new frontier where the EU can play a big role.' On datacenters, he says it's important for the EU to keep pushing for developing this type of technology and facilities in Europe to reinforce its data and computing sovereignty. Eni's Green Data Centre is a good example for the whole of Southern Europe of a highly efficient and continuously evolving asset whose capabilities can benefit not just Italy but our whole continent, he says. Green challenges However, there remains an irony that as much as supercomputing can help with the generation of energy, it is also a major energy user itself. So Europe's energy companies are also looking at ways to decrease the energy consumption of these facilities, even as the computing power increases. 'Our need was to have a significant internal capability in supercomputing, both hardware and software-wise', says Pagani. 'If you want to have this kind of capability, you first of all need to have your own 'house' for the supercomputer. We therefore decided in 2013 to realise our Green Data Centre, which has a very unique set of features. Since its construction, it's one of the most energy-efficient data centres in Europe and among the best for carbon footprint, because among its original requirements were high operational efficiency and minimisation of its environmental impact, placing therefore sustainability at the core of its design.' The challenge is that these supercomputers use a huge amount of power in a small space, which can be 10kw of power in just one square metre. As the supercomputers accelerate their computing power, innovation is necessary in the design to accommodate the space in an efficient way. Structures like Eni's Green Data Centre allow for refreshing the infrastructure as innovations are found to reduce energy use, even as the computing power increases. Partnerships This digital revolution is also fueling new partnerships. Many companies are now opening their computing power to startups, universities, and research labs to accelerate innovation across the entire energy ecosystem. The goal is to combine the expertise of data scientists, chemists, physicists, and engineers to tackle big challenges in renewable energy, energy storage, and emissions reduction. By opening advanced infrastructure to external researchers, the industry hopes to multiply breakthroughs - and prove that the energy transition will rely as much on bits and qubits as on barrels and wind turbines. But these companies are also asking policymakers for more support in making sure Europe is leading in this space, making the argument that it will improve Europe's energy security. [Edited By Brian Maguire | Euractiv's Advocacy Lab ]
Reuters
3 days ago
- Business
- Reuters
India's Adani Total Gas posts lower quarterly profit as input costs rise
July 28 (Reuters) - India's Adani Total Gas ( opens new tab reported a drop in quarterly profit on Monday, as gas purchases became costlier after the government cut cheap supply. The company, a joint venture of Adani Group and French oil major TotalEnergies SE ( opens new tab, said its consolidated net profit fell about 3.8% from a year earlier to 1.65 billion rupees ($19 million) in the June quarter. The Indian government in April reduced the allocation of low-cost natural gas to city gas distributors such as Adani Total Gas, citing a decline in domestic output by gas producers. India's natural gas production fell 0.9% year-on-year in April, and 3.6% and 2.8% in May and June, respectively. To maintain uninterrupted supply, the company had to bridge the shortfall by sourcing more expensive natural gas. The company's natural gas costs rose 30.6%, leading to a 27% rise in its total expenses to 12.88 billion rupees. Its CNG volumes, which account for more than half of its total sales, grew 21% during the quarter, as the company expanded its network. Adani Total Gas added 3 new CNG stations during the quarter, taking its total to 650 as of June 30. Sales volume in its piped natural gas segment grew by 6%. Total revenue from operations rose 20.9% to 14.98 billion rupees. Its shares closed nearly flat ahead of the results announcement. ($1 = 86.6630 Indian rupees)
