TotalEnergies to return more cash to shareholders as oil and gas output rise
Energy Disrupter
General – TotalEnergies
TotalEnergies is to increase returns to shareholders and plans to raise its oil and gas production by 2 to 3% per year over the next five years.
The group said at an investor day that it expects to distribute about 44% of its cashflow to shareholders in 2023 and set a target of more than 40% beyond 2023.
The company will continue to invest and continue to grow oil and gas operations, TotalEnergies’ CEO Patrick Pouyanne said.
“This strategy will also offer the company the highest production growth by the end of the decade with a focus on energy market growth.”
The French company has also been investing in renewables and low carbon energy and has a significantly higher wind and solar power generation capacity than rivals.
Original Source: https://ocean-energyresources.com/2023/09/29/totalenergies-to-return-more-cash-to-shareholders-as-oil-and-gas-output-rise/
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