TotalEnergies Pushes Ahead With Energy Transition Strategy; Shares Beginning To Look Attractive

TotalEnergies' strategic plan aims to grow energy production on all fronts while pursuing its ambition of net-zero emissions by 2050 and delivering near-term cash flow growth even at relatively low oil prices. The emissions reduction goal matches many of its European peers', but in contrast, Total does not plan a quick retreat from hydrocarbons. Instead, it plans to grow oil and gas production near term while delivering a reduction in portfolio emissions over time by expanding its ownership of renewable power and low carbon assets.