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TotalEnergies Stock Gains Traction On Finnish Used Oil Reprocessing Acquisition: Details

TotalEnergies SE (NYSE:TTE) shares are trading higher after the company disclosed the acquisition of Tecoil, a Finnish company specializing in the production of Re-Refined Base Oils (RRBOs). Currently, Tecoil operates a production facility in Hamina, eastern Finland, capable of producing 50,000 tons of RRBOs per year. Tecoil has established its own circular economy network across Europe to collect used lubricants and supply its plant. Tecoil employs a process called “re-refining” to optimize used oils, ...