TotalEnergies 2030 Growth Strategy
TotalEnergies announces aggressive share buybacks and robust energy growth targets through 2030.
Anonymous
TotalEnergies authorized $2.5 billion in share buybacks for the fourth quarter of 2026 and plans $2 billion to $2.5 billion in the first quarter of 2027. It targets annual dividend growth above 5% from 2026 through 2030 and plans to return at least 40% of cash flow to shareholders, while expecting its debt ratio to fall below 10% by year-end. The company aims to grow overall energy production by 4% annually through 2030, including average annual oil and gas output growth above 3%, and projects 2030 free cash flow about $10 billion higher than in 2025 at comparable energy prices. Its expansion plans include new oil and gas projects and development of Azerbaijan’s Absheron field with partners, targeting production in 2029. Oil prices above $100 a barrel are supporting the outlook, while high fuel prices have prompted political pressure in France for taxes or other relief.
Key Points
1
TotalEnergies said its project portfolio and existing reserves could keep oil and gas production at around 3 million barrels of oil equivalent per day through 2035, with a separate ambition to grow output by 2% to 3% annually from 2030 to 2035.
2
The planned Absheron expansion with SOCAR and XRG is designed to produce 6 billion cubic metres of gas and 47,000 barrels of condensate per year, up from the field’s 2023 phase output of 1.5 billion cubic metres of gas and 12,000 barrels of condensate.
3
TotalEnergies said its oil and gas production had been hit by the Iran-US war that began in February, even as high prices and refining margins were boosting the group’s results.
4
To respond to criticism over high fuel prices, TotalEnergies had been subsidizing prices at its forecourts for several months; the move also drew complaints from other fuel distributors.
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