TotalEnergies: Reduces Investment, but Largely Stays the Course as Update Fails to Impress Market

TotalEnergies committed to $7.5 billion in capital and cost reductions from 2026 to 2030, primarily through a $1 billion reduction in annual capital expenditures. It will increase total energy production by 4% per year through 2030 and return more than 40% of its cash flow to shareholders.