tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

TotalEnergies Divests Stake in Argentine Oil and Gas Blocks

Story Highlights
TotalEnergies Divests Stake in Argentine Oil and Gas Blocks

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

TotalEnergies SE ( (FR:TTE) ) just unveiled an update.

TotalEnergies has agreed to sell its 45% interest in two unconventional oil and gas blocks in Argentina’s Vaca Muerta area to YPF SA for $500 million. This divestment aligns with the company’s strategy to manage its portfolio actively, allowing it to concentrate on core assets in the Neuquén Basin and offshore Tierra del Fuego, while maintaining a significant presence in Argentina’s energy sector.

More about TotalEnergies SE

TotalEnergies is a global integrated energy company involved in the production and marketing of various energy forms, including oil, biofuels, natural gas, biogas, low-carbon hydrogen, renewables, and electricity. With operations in about 120 countries, the company places a strong emphasis on sustainability. In Argentina, TotalEnergies has been active since 1978, engaging in exploration and production, renewable electricity, and lubricants, and is a leading international gas producer in the country.

See more insights into TTE stock on TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1