TotalEnergies takes full ownership of Grandpuits recycling plant

T&T Group and TotalEnergies signed an MOU to develop a $1.5B LNG power project in Vietnam. The Long Son LNG project, approved by Ho Chi Minh City, aims to be one of Vietnam's largest LNG-fired plants. TotalEnergies will invest, supply LNG, and arrange financing, while T&T handles local regulations. TotalEnergies is a major LNG player with a global portfolio of 44M tonnes per year by 2025.

TotalEnergies (TTE) acquired the remaining 35% stake in its Grandpuits plastics recycling plant, gaining full ownership. The facility processes 15,000 tons of hard-to-recycle plastic waste annually. TTE aims to produce 1 million tons of recycled/renewable polymers by 2030. The plant is part of TTE's broader shift to zero-crude platforms, focusing on recycling and renewable energy.

Brent crude hit $101.21, its highest since May 2025, due to geopolitical tensions. Major oil companies like Chevron (CVX), TotalEnergies (TTE), Exxon (XOM), Eni (E), and BP (BP) focused on asset swaps and investments in Venezuela, rather than increasing drilling. Chevron plans to invest $7B in Venezuela over five years, aiming to double production. TotalEnergies transferred operatorship of the Papua LNG project to Exxon. The moves reflect strategic portfolio adjustments amid high oil prices and

TotalEnergies completed a deal with Galp, acquiring a 40% interest in the PEL83 license (Mopane discovery) and divesting interests in PEL56 and PEL91 licenses. The transaction strengthens TotalEnergies' position in Namibia's Orange Basin, with plans to appraise the Mopane project by 2026. TotalEnergies aims to develop low-carbon projects in the country.

The Angola Oil & Gas 2026 conference highlighted investment opportunities in Angola's oil and gas sector. Key agreements were signed by ANPG, QatarEnergy, Shell, and Sonangol. TotalEnergies announced a $10B investment over five years. ExxonMobil and partners announced a new oil discovery in Block 15. Angola aims to attract investment and sustain production.

TotalEnergies is accelerating production at its Acacia-5 oil discovery in Angola, targeting output in three months. The find, on Block 17, is expected to add 6,000 bpd. The company also expanded its exploration portfolio with new blocks. TotalEnergies holds interests in these blocks alongside partners like ExxonMobil and Chevron.