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Released April 17, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Growth in its production of natural gas and liquefied natural gas (LNG) are expected to keep TotalEnergies SE's (NYSE:TTE) (Courbevoie, France) hydrocarbon production stable in the first quarter of 2024, despite its selloff last year of assets in the Canadian oil sands. Increasing demand from industries and consumers is expected to benefit its refining and power-generation businesses as well. Industrial Info is tracking more than $3.5 billion worth of active and planned projects from TotalEnergies across the U.S., more than $1.5 billion of which is attributed to new plant construction.
Click on the image at right for a graph detailing TotalEnergies' active and planned projects across the U.S., by project type.
Last year, TotalEnergies stepped away from Canada's oil sands, selling its 50% interest in the Surmont oil sands asset to ConocoPhillips (NYSE:COP) (Houston, Texas) for C$4.03 billion (US$3 billion) and its Canadian upstream assets to Suncor Energy (NYSE:SU) (Calgary) for C$1.47 billion (US$1.1 billion). For more information, see Industrial Info's October 10, 2023, article - ConocoPhillips, Suncor Each Buy a Canadian Oil Sands Asset from TotalEnergies.
Despite its selloff in Canada, TotalEnergies expects its hydrocarbon production for the first quarter of 2024 to total more than 2.45 million barrels of oil equivalent per day (BOE/d), which the company called "in line with historical averages." The company said its refining business will benefit from stronger margins, since refinery utilization levels were "relatively stable" compared with those in the latter half of 2023.
At the company's 200,000-barrel-per-day (BBL/d) refinery in Port Arthur, Texas, which is its largest in the U.S., owners are weighing a proposed upgrade to the delayed coker unit, which processes 60,000 BBL/d. TotalEnergies is seeking to replace four coke drums that it says have reached the end of their useful lives. Subscribers to Industrial Info's Global Market Intelligence (GMI) Petroleum Refining Project and Plant databases can learn more from a detailed project report and plant profile.
Industrial Info also is tracking more than $100 million worth of maintenance-related turnarounds planned for the Port Arthur Refinery over the next three years. These include next year's inspections to the 150,000-BBL/d Crude Unit 1, the 30,000-BBL/d Diesel Hydrotreater 1, the 20,000-BBL/d Diesel Hydrotreater 2 and the 30,000-BBL/d Diesel Hydrotreater 3, among others. Subscribers can click here for a list of planned turnarounds.
Earlier this month, TotalEnergies announced it would acquire a 20% stake in the Dorado gas leases in the Eagle Ford Shale. The company says Dorado will allow it to increase its total U.S. natural gas production by 50 million cubic feet per day by the end of 2024, with the potential for another 50 million cubic feet per day by 2028. Much of the gas extracted from Dorado will go toward TotalEnergies' production of LNG, for which it was the leading exporter from the U.S. in 2023.
The Dorado leases are operated by EOG Resources Incorporated (NYSE:EOG) (Houston), which holds the remaining 80% stake. Industrial Info is tracking numerous EOG assets in the Eagle Ford region, including five major gas-processing plants and six gas-compressing stations for pipeline systems. Subscribers can click here for a list of detailed plant profiles.
TotalEnergies also said growing demand from the commercial and industrial sectors led to stronger earnings in its integrated power-generation business. In the region surrounding the Houston Ship Channel, where the oil and gas industry is at its busiest, the company is building two multi-phase solar-energy facilities: the Danish Fields Solar Plant in Bay City, which is being constructed in three phases totaling $1.2 billion of investment, and the Cottonwood Bayou Solar Plant in Liverpool, which is being constructed in two phases totaling $255 million. When all phases are complete, the projects are expected to generate 418 megawatts (MW) and 350 MW, respectively.
The Danish Fields and Cottonwood Bayou projects will be supported by $250 million and $155 million battery energy-storage systems (BESS), respectively, each of which will hold roughly 150 MW. Subscribers can click here for a full list of detailed project reports related to the Danish Fields and Cottonwood Bayou projects.
Subscribers can click here for a full list of reports for TotalEnergies' active and planned projects across the U.S., and click here for a full list of related plant profiles.
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) platform 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 more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing TotalEnergies' active and planned projects across the U.S., by project type.Last year, TotalEnergies stepped away from Canada's oil sands, selling its 50% interest in the Surmont oil sands asset to ConocoPhillips (NYSE:COP) (Houston, Texas) for C$4.03 billion (US$3 billion) and its Canadian upstream assets to Suncor Energy (NYSE:SU) (Calgary) for C$1.47 billion (US$1.1 billion). For more information, see Industrial Info's October 10, 2023, article - ConocoPhillips, Suncor Each Buy a Canadian Oil Sands Asset from TotalEnergies.
Despite its selloff in Canada, TotalEnergies expects its hydrocarbon production for the first quarter of 2024 to total more than 2.45 million barrels of oil equivalent per day (BOE/d), which the company called "in line with historical averages." The company said its refining business will benefit from stronger margins, since refinery utilization levels were "relatively stable" compared with those in the latter half of 2023.
At the company's 200,000-barrel-per-day (BBL/d) refinery in Port Arthur, Texas, which is its largest in the U.S., owners are weighing a proposed upgrade to the delayed coker unit, which processes 60,000 BBL/d. TotalEnergies is seeking to replace four coke drums that it says have reached the end of their useful lives. Subscribers to Industrial Info's Global Market Intelligence (GMI) Petroleum Refining Project and Plant databases can learn more from a detailed project report and plant profile.
Industrial Info also is tracking more than $100 million worth of maintenance-related turnarounds planned for the Port Arthur Refinery over the next three years. These include next year's inspections to the 150,000-BBL/d Crude Unit 1, the 30,000-BBL/d Diesel Hydrotreater 1, the 20,000-BBL/d Diesel Hydrotreater 2 and the 30,000-BBL/d Diesel Hydrotreater 3, among others. Subscribers can click here for a list of planned turnarounds.
Earlier this month, TotalEnergies announced it would acquire a 20% stake in the Dorado gas leases in the Eagle Ford Shale. The company says Dorado will allow it to increase its total U.S. natural gas production by 50 million cubic feet per day by the end of 2024, with the potential for another 50 million cubic feet per day by 2028. Much of the gas extracted from Dorado will go toward TotalEnergies' production of LNG, for which it was the leading exporter from the U.S. in 2023.
The Dorado leases are operated by EOG Resources Incorporated (NYSE:EOG) (Houston), which holds the remaining 80% stake. Industrial Info is tracking numerous EOG assets in the Eagle Ford region, including five major gas-processing plants and six gas-compressing stations for pipeline systems. Subscribers can click here for a list of detailed plant profiles.
TotalEnergies also said growing demand from the commercial and industrial sectors led to stronger earnings in its integrated power-generation business. In the region surrounding the Houston Ship Channel, where the oil and gas industry is at its busiest, the company is building two multi-phase solar-energy facilities: the Danish Fields Solar Plant in Bay City, which is being constructed in three phases totaling $1.2 billion of investment, and the Cottonwood Bayou Solar Plant in Liverpool, which is being constructed in two phases totaling $255 million. When all phases are complete, the projects are expected to generate 418 megawatts (MW) and 350 MW, respectively.
The Danish Fields and Cottonwood Bayou projects will be supported by $250 million and $155 million battery energy-storage systems (BESS), respectively, each of which will hold roughly 150 MW. Subscribers can click here for a full list of detailed project reports related to the Danish Fields and Cottonwood Bayou projects.
Subscribers can click here for a full list of reports for TotalEnergies' active and planned projects across the U.S., and click here for a full list of related plant profiles.
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) platform 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 more than 200,000 current and future projects worth $17.8 trillion (USD).
