PARIS, Sept 30 (Bernama-dpa) -- French energy concern TotalEnergies announced its growth objectives on Monday, intending to increase energy production by about 4 per cent per year through 2030 and projecting oil and gas growth of over 3 per cent per year between 2024 and 2030.
Moreover, it plans to increase electricity production by approximately 20 per cent per year through 2030, reported German news agency dpa.
Concurrently, the company announced a US$7.5 billion savings programme over the period of 2026 to 2030.
It also reduced its net Capex guidance to approximately US$16 billion in 2026 and US$15-17 billion per year during 2027-2030, down US$1 billion per year compared to previous guidance.
Additionally, the company confirmed a shareholder return policy of more than 40 per cent of annual cash flow regardless of energy prices.
Currently, TotalEnergies is trading at US$61.98, down 1.85 per cent on the New York Stock Exchange.
--BERNAMA-dpa
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