TotalEnergies: Best Oil Refinery Stock
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TotalEnergies SE ( NYSE:TTE) is one of the best oil refinery stocks to invest in according to analysts
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TotalEnergies SE ( NYSE : TTE ) stands against other best oil refinery stocks to invest in according to analysts.
US had 132 oil refineries with a total capacity of 18.4 million barrels per day (bpd) at the start of 2024 , a 2% increase compared with 2023 .
The declining fuel margins in Q4 2024 led to disappointing earnings results for many oil refiners, as a flood of new output competed with stagnating demand.
TotalEnergies SE ( NYSE : TTE ) reported an adjusted net income of $4.4 billion during the quarter , down 15% YoY but still beat market expectations by $200 million .
The energy giant also launched several new major projects last year , including Mero 2 and 3 in Brazil , Akpo West in Nigeria , Anchor in the US , and Fenix in Argentina .
Total increased its 2024 dividend by 7% to 3.22 euros per share, and confirmed share buybacks of $2 billion per quarter for 2025 .
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