Latest news with #TotalEnergiesEPGabon
Yahoo
16-05-2025
- Business
- Yahoo
TotalEnergies EP Gabon: Quarterly financial information
First Quarter 2025 Results PORT-GENTIL, Gabon, May 16, 2025--(BUSINESS WIRE)--Regulatory News: TotalEnergies EP Gabon (Paris:EC): Main Financial Indicators Q1 25 Q1 24 Q1 25vsQ1 24 Average Brent price $/b 75.7 83.2 -9% Average TotalEnergies EP Gabon crude price (1) $/b 75.6 81.9 -8% Crude oil production from fields operated by TotalEnergies EP Gabon (3) kb/d (2) 16.7 17.2 -3% Sales volumes (4) Mb (5) 1.5 1.4 +7% Revenues (6) $M 117 120 -3% Cash flow from operations (7) $M -229 95 -341% Capital expenditure $M 19 18 +6% Net income $M 22 25 -12% (1) The crude price calculation excludes profit oil reverting to the Gabonese Republic as per production sharing contracts, these barrels being handed over in kind to the host state. (2) kb/d : Thousand barrels per day (excluding gas production). (3) Including profit oil reverting to the Gabonese Republic as per production sharing contracts. (4) Sales volume excludes profit oil reverting to the Gabonese Republic as per production sharing contracts, these barrels being handed over in kind to the host state. (5) Mb : Million of barrels. (6) Revenue from hydrocarbon sales and services (transportation, processing and storage), including profit oil reverting to the Gabonese Republic as per production sharing contracts. (7) Funds generated from operations are comprised of the operating cash flow, the gains or losses on disposals of assets and the working capital changes. First Quarter 2025 Results Selling Price In the first quarter of 2025, the average price of Brent crude settled at $75.7 per barrel ($/b), down 9% compared to the first quarter of 2024 ($83.2/b). The average selling price of the quality of crude oil marketed by TotalEnergies EP Gabon was $75.6/b, decreased by 8% compared to the first quarter of 2024 ($81.9/b). Production TotalEnergies EP Gabon's crude oil production in the first quarter of 2025 was 16.7 kb/d, down 3% compared to the first quarter of 2024 (17.2 kb/d). This slight variation is mainly explained by the natural decline of fields, partially offset by better availability of Anguille and Torpille facilities. Revenues Revenues for the first quarter of 2025 was $117 million, down 3% compared to the first quarter of 2023, due to decrease in the average selling price. Cash flow from Operations Cash flow from operations reached $91 million in the first quarter of 2025, excluding exceptional effect linked to delayed payment of 2023 complementary dividend (-$320 million) early January 2025, against $95 million in the first quarter of 2024. It is negatively impacted by the decrease between the two compared periods of gross margin (-$10 million), non-operational products (-$1 million) and interests on cash deposits (-$3 million), partially offset by other operating costs (+$2 million), and working capital (+$8 million) decrease. Capital Expenditure Oil investments were $19 million in the first quarter of 2025, against $18 million in the first quarter of 2024. During the first quarter of 2025, they mainly cover works on the sites, production initiatives, as well as other studies and facilities operations including those relating to the reduction of emissions from our activities. Net Income Net income for the first quarter of 2025 was $22 million, a decline to 12% compared to the first quarter of 2024 ($25 million). It has been negatively impacted by the decrease of gross margin (-$10 million), non-operational products (-$1 million), interests on cash deposits (-$3 million), and the increase of amortizations (-5 million) and financial provisions (-$1 million). These negative impacts are partially offset by the decrease of operating costs (+$2 million) and income tax (+$15 million). Highlights since the beginning of first quarter 2025 Board of Directors Meeting on March 20, 2025 The Board of Directors approved on March 20, 2025, the financial statements for the year ending December 31, 2024, and decided to recommend to the Shareholders General Assembly scheduled on May 16, 2025, the payment of a dividend of $22.22 dollars per share. About TotalEnergies EP Gabon TotalEnergies EP Gabon is 58.28% owned by TotalEnergies S. E, 25% by the Gabonese Republic and 16.72% by the public. About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations. TotalEnergies on social media X: @TotalEnergies LinkedIn: TotalEnergies Facebook: TotalEnergies Instagram: TotalEnergies Cautionary Note The terms "TotalEnergies", "TotalEnergies company" or "Company" in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words "we", "us" and "our" may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies' financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC). View source version on Contacts Contacts TotalEnergies EP Gabon actionnariat-epgabon@ Media Relations: +33 (0)1 47 44 46 99 l presse@ l @TotalEnergiesPR Investor Relations: +33 (0)1 47 44 46 46 l ir@
Business Wire
16-05-2025
- Business
- Business Wire
TotalEnergies EP Gabon: Annual Shareholders' Meeting on Friday May 16, 2025
PORT-GENTIL, Gabon--(BUSINESS WIRE)--Regulatory News: TotalEnergies EP Gabon's (Paris:EC) ordinary Annual Shareholders' Meeting was held today in Port-Gentil, chaired by Mr. Mike SANGSTER. Shareholders approved all resolutions recommended by the Board of Directors, including: - Approval of the 2024 financial statements including a net income of $91 million under International Financial Reporting Standards (IFRS) referential and $86 million under OHADA standards. - Approval of the payment of a net dividend of $22.22 per share related to the financial year 2024 for a total amount of $100 million. - Renewal of the directors' mandates of Mrs. Renée Estelle NSI BENGONE, and Stéphanie MPEMBA MBADINGA, and MM. Mike SANSGTER, Thomas MAREEL, Yann DUCHESNE and Brice de Léon RETENO N'DIAYE for a two-year term expiring at the end of the Annual Shareholders' Meeting called to approve the 2026 financial statements. - Determination of the global compensation ceiling of the statutory auditors for preparing their reports on the 2024 financial statements. A detailed breakdown of the votes will be posted on the Company's website in the coming days. The Board of Directors in its meeting today approved the modalities of the dividend payment. The $22,22 per share dividend will be paid in euro as from June 9, 2025 in an equivalent amount of €19.85 per share, based on the European Central Bank's rate (or its corresponding value in CFA francs) of $1.1194 per euro on May 16, 2025. About TotalEnergies EP Gabon TotalEnergies EP Gabon is 58.28% owned by TotalEnergies SE, 25% by the Gabonese Republic and 16.72% by the public. About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations. TotalEnergies Networks X : @TotalEnergies LinkedIn : TotalEnergies Facebook : TotalEnergies Instagram : TotalEnergies Cautionary Note The terms 'TotalEnergies', 'TotalEnergies company' or 'Company' in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words 'we', 'us' and 'our' may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies' financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
Yahoo
16-05-2025
- Business
- Yahoo
TotalEnergies EP Gabon: Annual Shareholders' Meeting on Friday May 16, 2025
PORT-GENTIL, Gabon, May 16, 2025--(BUSINESS WIRE)--Regulatory News: TotalEnergies EP Gabon's (Paris:EC) ordinary Annual Shareholders' Meeting was held today in Port-Gentil, chaired by Mr. Mike SANGSTER. Shareholders approved all resolutions recommended by the Board of Directors, including: - Approval of the 2024 financial statements including a net income of $91 million under International Financial Reporting Standards (IFRS) referential and $86 million under OHADA standards. - Approval of the payment of a net dividend of $22.22 per share related to the financial year 2024 for a total amount of $100 million. - Renewal of the directors' mandates of Mrs. Renée Estelle NSI BENGONE, and Stéphanie MPEMBA MBADINGA, and MM. Mike SANSGTER, Thomas MAREEL, Yann DUCHESNE and Brice de Léon RETENO N'DIAYE for a two-year term expiring at the end of the Annual Shareholders' Meeting called to approve the 2026 financial statements. - Determination of the global compensation ceiling of the statutory auditors for preparing their reports on the 2024 financial statements. A detailed breakdown of the votes will be posted on the Company's website in the coming days. The Board of Directors in its meeting today approved the modalities of the dividend payment. The $22,22 per share dividend will be paid in euro as from June 9, 2025 in an equivalent amount of €19.85 per share, based on the European Central Bank's rate (or its corresponding value in CFA francs) of $1.1194 per euro on May 16, 2025. About TotalEnergies EP Gabon TotalEnergies EP Gabon is 58.28% owned by TotalEnergies SE, 25% by the Gabonese Republic and 16.72% by the public. About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations. TotalEnergies Networks X : @TotalEnergies LinkedIn : TotalEnergies Facebook : TotalEnergies Instagram : TotalEnergies Cautionary Note The terms "TotalEnergies", "TotalEnergies company" or "Company" in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words "we", "us" and "our" may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies' financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC). View source version on Contacts TotalEnergies EP Gabon actionnariat-epgabon@ Media Relations: +33 (0)1 47 44 46 99 l presse@ l @TotalEnergiesPR Investor Relations: +33 (0)1 47 44 46 46 l ir@
Yahoo
20-03-2025
- Business
- Yahoo
TotalEnergies EP Gabon: 2024 Financial Results
PORT-GENTIL, Gabon, March 20, 2025--(BUSINESS WIRE)--Regulatory News: The Board of Directors of TotalEnergies EP Gabon (Paris:EC) meeting on March 20, 2025, under the chairmanship of Mike Sangster, chairman of the Board of Directors, approved the Company's financial statements for 2024 financial year. During the year 2024, the Company present a net income of $91 million and a cash from operation of $312 million, against $26 million and $226 million in 2023, in a less favorable price environment. The crude oil production related to TotalEnergies EP Gabon's interests amounted 17 thousand barrels per day, up 8% compared to 2023. The Board of Directors, considering the Company's residual level of distributable earnings and confident in the strength of its balance sheet, particularly with the absence of debt, has decided to propose to the Ordinary General Meeting of Shareholders, convened on May 16, 2025, an ordinary dividend of $22.22 per share, or $100 million for all shareholders. This dividend will be payable in euros (or its equivalent in CFA francs) based on the euro/dollar exchange rate on the date of the Shareholders' Meeting. Main Financial Indicators 2024 2023 2022 2024 vs 2023 Average Brent Price $/b 80.8 82.6 101.3 -2% Average TotalEnergies EP Gabon crude price (1) $/b 77.2 77.5 94.2 - Crude oil production from fields operated by TotalEnergies EP Gabon kb/d (2) 17.0 15.8 15.8 +8% Sales volumes (3) Mb (4) 5.7 5.4 5.1 +6% Revenues (5) M$ 465 444 521 +5% Cash flow from Operations (6) M$ 312 226 225 +38% Net investments M$ 60 86 101 -30% Net income M$ 91 26 340 x3.5 (1) The crude price calculation excludes profit oil reverting to the Gabonese Republic as per production sharing contracts, these barrels being handed over in kind to the host state. (2) kb/d: Thousand barrels per day (excluding gas production). (3) Sales volume excludes profit oil reverting to the Gabonese Republic as per production sharing contracts, these barrels being handed over in kind to the host state. (4) Mb: Million of barrels. (5) Revenue from hydrocarbon sales and services (transportation, processing and storage), including profit oil reverting to the Gabonese Republic as per production sharing contracts. (6) Funds generated from operations are comprised of the operating cash flow, the gains or losses on disposals of assets and the working capital changes. 2024 Results Selling price Over 2024 year, the average Brent price reached $80.8/b, down 2% compared to 2023 year ($82.6/b). The average selling price of the quality of crude oil marketed by TotalEnergies EP Gabon amounted to $77.2/b in 2024, slightly down compared to 2023 ($77.5/b). Production The TotalEnergies EP Gabon crude oil production amounted to 17.0 kb/d, up 8% compared to the previous year (15.8 kb/d). This production increase is driven by improved operational efficiency and the results from the wells interventions campaign which enable to offset the natural decline of the fields. Revenues In 2024, the revenues amounted $465 million, up 5% compared to 2023 ($444 million) mainly due to the increase of TotalEnergies EP Gabon crude oil marketed volumes (+6%), offsetting the slight decrease in TotalEnergies EP Gabon crude oil marketed average prices. Cash flow from Operations TotalEnergies EP Gabon generated a cash flow from operations of $312 million in 2024, up 38% compared to 2023 ($226 million). It's impacted positively by the gross margin increase (+$25 million), lower operating and non-operating costs (+$15 million), higher interests on cash deposits (+$3 million) and working capital variation (+$80 million) between the two periods compared. These effects are partially offset by the increase of site restitution costs (-$22 million) and current tax (-$15 million). Net investments Petroleum investments amounted to $60 million in 2024, down 30% compared to 2023 ($86 million). For the year 2024, it essentially includes the wells interventions campaign, integrity works on the sites, the operations related to the reduction of emissions on the Company activities. In 2023, these investments were including the cost of the five-year shutdown on the Anguille site. Net income Net income for 2024 year was $91 million, against $26 million in 2023. This significant improvement of net income in 2024 is due to the absence of exceptional asset depreciation (+$ 96 million in 2023) and the positive impacts of the gross margin increase ($+25 million), lower operating and non-operating costs (+$15 million) and higher interests on cash deposits (+$3 million). These positive effects are partially offset by the increase of tax charge (-$46 million) and the depreciation charges and financial provisions (-$28 million) excluding exceptional asset depreciation. Highlights since the beginning of fourth quarter 2024 Budget project for 2025 The Board of Directors reviewed and approved the proposed budget for the year 2025. About TotalEnergies EP Gabon TotalEnergies EP Gabon is 58.28% owned by TotalEnergies SE, 25% by the Gabonese Republic and 16.72% by the public. About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable, and more sustainable. Active in about 120 countries, TotalEnergies place sustainability at the heart of its strategy, its projects and its operations. TotalEnergies on social media X : @TotalEnergies LinkedIn : TotalEnergies Facebook : TotalEnergies Instagram : TotalEnergies Cautionary Note The terms "TotalEnergies", "TotalEnergies company" or "Company" in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words "we", "us" and "our" may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies' financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC). View source version on Contacts Contacts TotalEnergies EP Gabonactionnariat-epgabon@ Media Relations : +33 (0)1 47 44 46 99 l presse@ l @TotalEnergiesPR Investor Relations : +33 (0)1 47 44 46 46 l ir@ Sign in to access your portfolio
