TotalEnergies Adapts Antwerp Platform for Energy Transition and Market Trends

TotalEnergies SE ( (FR:TTE) ) has issued an update.

TotalEnergies is investing in its Antwerp platform to enhance competitiveness and adapt to the energy transition by reconfiguring its petrochemical operations. The company plans to accelerate decarbonization through a green hydrogen project and sustainable aviation fuel production, aiming to reduce CO2 emissions and support renewable energy targets. Additionally, TotalEnergies will shut down its oldest steam cracker by 2027 due to overcapacity in the petrochemicals market, focusing instead on its newer, integrated steam cracker. This reconfiguration will not result in layoffs, as affected employees will be offered retirement or internal transfers.

More about TotalEnergies SE

TotalEnergies is a global integrated energy company involved in the production and marketing of a variety of energies, including oil, biofuels, natural gas, biogas, low-carbon hydrogen, renewables, and electricity. With a workforce of over 100,000 employees, the company operates in approximately 120 countries, emphasizing sustainability in its strategy and operations.

YTD Price Performance: -1.11%

Average Trading Volume: 2,001,340

Technical Sentiment Signal: Hold

Current Market Cap: €108.4B

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