LA DEFENSE (dpa-AFX) - TotalEnergies SE (TTE), Monday announced its growth objectives, intending to increase energy production by about 4 percent per year through 2030 and projecting oil and gas growth of over 3 percent per year between 2024 and 2030.
Moreover, it plans to increase electricity production by approximately 20 percent per year through 2030.
Concurrently, the company announced a $7.5 billion savings program over the period of 2026 to 2030. It also reduced its net Capex guidance to approximately $16 billion in 2026 and $15-17 billion per year during 2027-2030, down $1 billion per year compared to previous guidance.
Additionally, the company confirmed a shareholder return policy of more than 40 percent of annual cash flow regardless of energy prices.
Currently, TTE is trading at $61.98, down 1.85 percent on the New York Stock Exchange.
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