French oil company TotalEnergies announced a 5% increase in dividends per share for 2025 and raised its oil and gas production target to 3% annual growth through 2030 during its investor day presentation on Wednesday.
The company had previously projected growth of between 2% and 3% in hydrocarbon production through 2028.
With oil prices falling from around $90 a barrel in April to $70 last month, TotalEnergies is eager to show investors that its strategy of pursuing low-cost upstream projects will allow it to maintain returns for shareholders. over the decade, even as he built his green business. briefcase.
The company said it expected to return 45% of its cash flow to shareholders this year and extend its current pace of $2 billion in share buybacks per quarter through 2025, assuming “reasonable market conditions.”
Its total energy production is now projected to increase 4% annually, with $10 billion more in free cash flow by 2030.
TotalEnergies’ 24 gigawatt (GW) renewable energy portfolio – more than BP, Shell, Equinor and Eni combined – will currently increase by 45% to 35 GW by next year, with the aim of 70% of The company’s electricity in 2030 will come from renewable energy. sources.
The group’s annual investment target of between $16 billion and $18 billion, with a possible reduction of $2 billion in the event of price declines, has not changed.
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