$TTE

Kazakhstan escalated a confidential arbitration over the Kashagan oil field, alleging corruption and inflated procurement tied to about a dozen contracts totaling $10.7 billion. Kazakhstan seeks about $160 billion overall, including environmental damage and lost profits. The North Caspian Operating Company consortium, including Shell and ExxonMobil, denies the claims. No tribunal ruling yet.

Ahead of Ofgem’s next three-month energy price cap on Aug 26, campaign groups say eight major energy firms generated over £6bn in UK-attributable profits in 2026. Estimates use company financial results, including Centrica adjusted operating profit of £497m (H1), Shell $9.8bn global adjusted earnings (Q2), and Equinor $11.48bn adjusted operating income (Q2).

The U.S. Department of the Interior reached agreements totaling about $3.9 billion (March to August) with TotalEnergies, Bluepoint Wind, Golden State Wind, Invenergy, Duke Energy and RWE to settle offshore wind lease claims. RWE received $1.22 billion and plans $900 million in LNG infrastructure. The deals require or encourage comparable investment in gas/LNG/oil rather than wind.

Kazakhstan says in a confidential arbitration that corruption and unjustified cost increases tainted about $10.7 billion in Kashagan oil-field contracts awarded by the North Caspian Operating Consortium (NCOC). Kazakhstan seeks damages in a $160 billion dispute, alleging delays that pushed full production to 2016. NCOC and member firms deny the claims. Tribunal decision is pending.

Daewoo Engineering and Construction said it was selected as the preferred EPC bidder for TotalEnergies’ Papua LNG project in Papua New Guinea, covering engineering, construction and procurement, with a final investment decision expected soon.

According to an AGBI analysis, 11 major oil companies including Shell, Chevron, TotalEnergies and Equinor earned $121bn in profits in Apr-Jun 2025, up 85% from $65bn a year earlier, as Brent averaged $103.28/bbl. The article says dividends and buybacks rose modestly, while some firms like Chevron cut debt by $8.4bn.

Iraq’s state-owned Company for Oil Projects (SCOP) said it will start this month laying pipeline networks for the Artawi field under the Artawi Gas Midstream Project to reduce gas flaring. SCOP met with TotalEnergies and China Petroleum Pipeline (CPP) to finalize routes and facilities. Pipelines include 10, 12, 24-inch sweet gas and a 20-inch sour gas line in WQ2, with work scheduled for August.

European shares were slightly lower as investors weighed inflation and interest-rate concerns. The STOXX 600 slipped 0.1%. Brent crude rose nearly 3% toward $90 on Strait of Hormuz reopening uncertainty. International Workplace Group fell after reporting a loss. InterContinental Hotels Group dropped on slower room revenue growth. BP, Shell, and TotalEnergies rose with crude; Spirax Group and Salzgitter also declined.

Shell Plc shares (SHEL) traded around £32.66 on 10 Aug 2026 after the company agreed on 3 Aug to sell its European onshore renewables portfolio to TotalEnergies. The portfolio covers about 500 MW of solar and wind. The move supports Shell’s capital reallocation toward upstream oil and gas. The article also cites Q2 adjusted earnings of $9.8B and a $3.0B buyback.

TotalEnergies SE disclosed purchases of its own shares under shareholder authorization from May 29, 2026, covering Aug 3 to Aug 7, 2026. It bought 1,669,116 shares at a weighted average EUR 74.889827, totaling EUR 124,999,809.23 across multiple trading venues (XPAR, CEUX, TQEX, AQEU).