TotalEnergies Extends Waha Concessions in Libya to 2050
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Businesswire
- Concession Extension: TotalEnergies signed an agreement at the Libya Energy & Economy Summit to extend the Waha concessions until 2050, which is expected to enhance current production of 370,000 barrels per day through new fiscal terms, paving the way for future investments.
- New Investment Plans: The agreement will facilitate the development of the North Gialo field, projected to add 100,000 barrels per day, further solidifying TotalEnergies' market position in Libya.
- Long-term Commitment: Having operated in Libya since 1956, TotalEnergies reaffirms its collaboration with the National Oil Corporation and the government, aiming to leverage low-cost, low-emission resources for production growth.
- Sustainability Strategy: Active in about 120 countries, TotalEnergies is committed to providing reliable, affordable, and sustainable energy, aligning with its core sustainability strategy objectives.
Analyst Views on TTE
Wall Street analysts forecast TTE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TTE is 71.67 USD with a low forecast of 60.04 USD and a high forecast of 90.93 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
8 Buy
8 Hold
0 Sell
Moderate Buy
Current: 67.070
Low
60.04
Averages
71.67
High
90.93
Current: 67.070
Low
60.04
Averages
71.67
High
90.93
About TTE
TotalEnergies SE is a France-based company. The Company is predominantly engaged in the business as a worldwide oil group. Its segment divisions are divided into refining and chemistry such as refining of petroleum products and manufacture of basic chemistry and of specialty chemistry, petroleum products distribution, electricity generation from combined cycle gas plants and renewable energies, gas production, trading, transport and distribution primarily includes liquefied natural gas, natural gas, biogas, hydrogen, liquefied petroleum gas and hydrocarbon operating and production. The group is also operating in trading and sea transport of crude oil and oil products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
