TotalEnergies SE (NYSE:TTE) ranks among the many best-performing European stocks to invest in. On September 2, TotalEnergies SE (NYSE:TTE) and South Atlantic Petroleum signed a Manufacturing Sharing Contract for 2 offshore exploration licenses in Nigeria. The licenses, which embody roughly 2,000 sq. kilometers within the West Delta basin, got out as a part of Nigeria’s 2024 Exploration Spherical and had been administered via the Nigerian Upstream Petroleum Regulatory Fee.
Soonthorn Wongsaita/Shutterstock.com
Nigeria has been part of TotalEnergies’ hydrocarbon output for over 60 years, with the nation contributing roughly 209,000 barrels of oil equal per day in 2024.
Based on TotalEnergies SE (NYSE:TTE), the just lately bought blocks have “promising” “drill-ready and excessive influence prospects” in its main areas of competence. The corporate will personal and function 80% of the blocks, whereas South Atlantic Petroleum will maintain the remaining 20%.
A world built-in vitality firm, TotalEnergies SE (NYSE:TTE) generates electrical energy, renewable vitality, oil, biofuels, and pure gasoline and inexperienced gases.
Whereas we acknowledge the potential of TTE as an funding, we consider sure AI shares supply larger upside potential and carry much less draw back danger. In the event you’re on the lookout for an especially undervalued AI inventory that additionally stands to profit considerably from Trump-era tariffs and the onshoring pattern, see our free report on the best short-term AI stock.
READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.
Disclosure: None. This text is initially printed at Insider Monkey.
