TotalEnergies plans $ 1.5 billion in share buybacks in the fourth quarter – archyworldys

PARIS (Reuters) – TotalEnergies on Tuesday announced plans to carry out $ 1.5 billion (€ 1.28 billion) in share buybacks in the fourth quarter, amid high oil prices, and confirmed the outlook for its production by 2030.

The oil group, which is implementing an offensive diversification strategy in renewable energies, also specified during an investor day that its net electricity production, still forecast at more than 50 terawatt-hours (TWh) in 2025, is expected to generate Ebitda of $ 3.5 billion.

TotalEnergies also indicated that its oil production would peak during the decade before declining. Over 2022-2026, Exploration-Production will generate more than $ 5 billion in net cash flow per year in an environment of $ 50 per barrel, with additional revenue of $ 3.2 billion for a price of Brent more high of 10 dollars.

* Please read 2022 in the last paragraph

(Report Benjamin Mallet; edited by Jean-Stéphane Brosse)