TotalEnergies, Anticipated Angola Refinery Start: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

EARNINGS REPORTS
DTE Energy Boosts 2Q24 Earnings - DTE Energy Company (NYSE:DTE) (Detroit, Michigan) benefited from hot temperatures and higher supply rates in the three months ended June 30. That boosted earnings at the company's electric unit by 56.7% to $279 million in the second quarter. The company plans to invest more than $4 billion this year to upgrade its electric and gas grids and has already shelled out more than $2 billion during the first half of the year. The company also reported second quarter earnings of $322 million, compared with $201 million in second-quarter 2023. (Reuters)

TotalEnergies 2Q Income Drops on Lower Refined Product, Gas Sales - TotalEnergies SE (NYSE:TTE) (Courbevoie, France) reported a 6% fall in second-quarter earnings on Thursday, hurt by lower refined product and gas sales and as European refining margins tumbled. Adjusted net income for the three months ending June 30 was US$4.7 billion, down from US$4.96 billion a year earlier and US$5.1 billion in the first quarter. (Reuters)

REFINING
Angolan Refinery to Start Up Later This Year - Angola's new Cabinda crude oil refinery is on track to start up later this year before ramping up to full first phase production of 30,000 barrels a day by July next year, the plant's Chief Executive Marcelo Hofke said on Thursday. Almost two-thirds of the construction is complete. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report. (Reuters)

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About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).