TotalEnergies Stock Stabilizes Near Record Highs Amid Arctic LNG Exit and Gabon Profit Surge

TotalEnergies stock has stabilized at near-record highs as investors weigh the company's exit from the Arctic LNG 2 project against improving profitability in Gabon.

The company transferred its 10 percent stake in the Arctic LNG 2 liquefied natural gas project to NordLine, a Novatek subsidiary, while retaining rights to be reimbursed for $1.3 billion in loans provided by shareholders.

TotalEnergies' Gabon exploration and production subsidiary reported a sharp increase in first-half net profit, with a total of $51 million compared to $22 million in the same period last year.