TotalEnergies Extends Waha Oil Concessions in Libya to 2050
Written by Emily J. Thompson, Senior Investment Analyst
Source: seekingalpha
- Concession Extension: TotalEnergies signed an agreement with Libya's National Oil Corporation to extend the Waha oil concessions until 2050, with new fiscal terms aimed at boosting current production of approximately 370K boe/day, paving the way for a new phase of investments.
- Production Capacity Increase: The new deal is expected to raise Waha's production capacity from 340K-400K bbl/day to up to 850K bbl/day, potentially generating over $376 billion in net revenues for Libya, significantly enhancing the country's economic stability.
- North Gialo Field Development: The agreement includes the development of the North Gialo field, anticipated to add 100K boe/d to production, which will not only strengthen TotalEnergies' market position in Libya but also promote energy investments in the region.
- Political Stability Impact: The signing of this agreement marks a crucial step for Libya in stabilizing and increasing oil production after years of political disruption and underinvestment, reflecting international investors' confidence in the country's market.
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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: 71.520
Low
60.04
Averages
71.67
High
90.93
Current: 71.520
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.
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- Diversification Strategy: The company excels not only in oil but also actively invests in electricity production, further diversifying its energy portfolio and enhancing its ability to withstand market fluctuations.
- Market Opportunities: TotalEnergies' extensive presence in emerging markets like Africa allows it to operate successfully in politically complex regions, showcasing its adaptability and growth potential.
- Competitive Advantage: Unlike other major oil companies, TotalEnergies has successfully implemented a clean energy transition while maintaining its dividend, highlighting its unique position and long-term growth prospects in the industry.
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