TotalEnergies Kenya Half-Year Pretax Profit Jumps 53%

TotalEnergies has appointed Pablo Semolinos as the new general director for renewable and flexible generation, marketing, and trading operations in Spain, effective September 1. This move aims to strengthen coordination of gas and electricity activities. Semolinos replaces José Ignacio Sanz, who will lead the Gas, Renewables & Power business in France. The company has a 3 GW renewable portfolio and 2.5 million customers in Spain.

TotalEnergies (TTE) acquired Shell's 4 GW European renewables portfolio, including 500 MW of operating/under-construction solar and wind assets, and a 3.5 GW project pipeline. Separately, TTE sold a 50% stake in a 1.2 GW renewables portfolio to KKR for €1.8B. Both deals align with TTE's strategy to optimize capital allocation in renewables and expand its power generation in Europe.

TotalEnergies sold its 10% stake in Russia's Arctic LNG 2 project to Novatek's subsidiary, NordLine. The French company may recover $1.3B in loans, subject to sanctions. TotalEnergies previously halted investments and recorded a $4.1B impairment charge on the project. It retains minority stakes in Novatek and Yamal LNG, which are currently unsellable due to restrictions.

TotalEnergies (TTE) rose 2% to $88.08 as Brent crude surpassed $90. The company reported $9.8B in Q2 cash flow, $6B in adjusted net income, and a 5.9% dividend increase. However, shares are 38.69% above GuruFocus's valuation estimate, and production disruptions may impact future performance.

TotalEnergies (TTE) is acquiring Shell's European onshore renewables business, expanding its Integrated Power activities. The company also finalized its exit from Russia's Arctic LNG 2 project, adjusting its exposure to geopolitical risks. The moves reshape its energy mix and reinforce its strategy of scaling renewables. Key milestones include regulatory approvals for the Shell deal and the commissioning of planned capacity by late 2026.

TotalEnergies (TTE) agreed to buy Shell's (SHEL) European onshore renewables business, including 500 MW of operational/under-construction assets and a 3.5 GW pipeline. The deal, pending regulatory approval, supports TTE's European Integrated Power strategy. Piper Sandler raised SHEL's price target to $89. Both companies reported strong Q2 2026 results, with SHEL generating higher cash flow but TTE having a leaner balance sheet.