In its latest quarterly report, TotalEnergies increased hydrocarbon output by 2.8% year-over-year to an average of 3.15 million barrels of oil equivalent per day. The rise was driven by start-ups at the Moho Nord offshore field in the Republic of Congo and accelerated drilling in the North Sea, where the company brought three new wells online. Management projects full-year output growth of 4% to 3.25 million boe/d, a move intended to partially mitigate weaker benchmark prices in the European and U.S. markets.

Beyond oil and gas, TotalEnergies is expanding its power generation portfolio in response to surging electricity demand from electric vehicles and AI data centers. The company plans to commission an additional 3.5 gigawatts of renewable capacity by year-end, including solar and battery storage projects in Spain and Texas. Internal forecasts anticipate power revenues rising by 12% in the coming fiscal year, underpinned by long-term offtake agreements with three major automakers and two hyperscale cloud providers.

The LARGE CAP INTERNATIONAL PORTFOLIO disclosed a sale of 10,871 TotalEnergies shares, cutting its holding by 57.53% to 8,024 shares. The divestment, executed over four trading days, reduced the fund’s exposure to the energy sector and freed up cash for redeployment into technology and healthcare names. Despite the reduction, the portfolio remains among the top 50 institutional shareholders and retains an investment-grade view on TotalEnergies’ balance sheet and dividend policy.