TotalEnergies Expands Fourth-Quarter Buyback to $2.5 Billion

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French oil major TotalEnergies announced on the 28th that it will increase its fourth-quarter share buyback to $2.5 billion from $1.5 billion in recent quarters. Higher crude prices stemming from the Iran war, a strong trading division, and widening refining margins helped second-quarter profit reach its highest level in about three years. The company said it will carry out $2 billion to $2.5 billion in buybacks in the first quarter of 2027, continue raising its dividend by more than 5% annually through 2030, and projected that production would grow 2% to 3% a year to about 2.5 million barrels of oil equivalent per day in 2030 to 2035. Chief Executive Patrick Pouyanné told an analyst briefing in New York that the company is in a position to expand annual shareholder returns to roughly $7.5 billion to $8 billion, and expressed confidence it can meet its targets without relying on large M&A. It plans net investment of $14 billion to $17 billion a year in 2027 to 2032, and expects to lower its gearing ratio to below 10% by the end of 2026. Among European majors, Britain's BP has halted buybacks this year, and Shell also reduced its quarterly buyback to $3 billion from $3.5 billion in May.

Impact on assets 3

Energy Transition & Power Demand▼ · 2 stocks
BP PLC
BP
▼ NegativeCapitalrelevance

Article notes BP has halted buybacks this year, contrasting with TotalEnergies' expanded buyback.

Shell plc
SHEL
▼ NegativeCapitalrelevance

Shell reduced its quarterly buyback to $3 billion from $3.5 billion in May, per the article.

Energy▲ · 1 stocks
TotalEnergies SE
TTE
▲ PositiveCapitalDemandrelevance

TotalEnergies expands Q4 buyback to $2.5B, plans continued buybacks, dividend hikes, and higher shareholder returns.

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