TotalEnergies SE (NYSE:TTE) shares are trading higher on Friday.
The company announced a strategic partnership with OK Petroleum, a distributor in Long Island, NY.
This collaboration will bring TotalEnergies’ product portfolio to a wider audience across the region, the company said in a press release.
Through this partnership, OK Petroleum will offer a variety of TotalEnergies products, including QUARTZ Engine Oils, RUBIA Heavy-Duty Engine Oils, and Nevastane Food Grade Lubricants.
“This partnership will allow us to expand our reach on Long Island and provide local businesses with access to our industry-leading lubricants and specialty fluids,” said Franck Bagouet, President of TotalEnergies Marketing USA.
Earlier this month, the company disclosed the acquisition of the 20% stake held by Lewis Energy Group in the Dorado leases operated by EOG Resources, Inc. (NYSE:EOG).
This move is expected to increase TotalEnergies' natural gas production capacity in Texas and further strengthen its business integration in the U.S. liquefied natural gas (LNG) value chain.
On April 3, the company launched a New Battery Storage Project in Belgium.
The new project will be developed on the company's depot site in Feluy, with a power rating of 25 MW and capacity of 75 MWh.
The company expects the start-up at the end of 2025. This project is similar to another project of the company in Belgium, and these two projects represent a global investment of around €70 million.
Price Action: TTE shares are trading higher by 1.27% to $71.73 on the last check Friday.
