TotalEnergies targets 4% annual production growth through 2030

TotalEnergies has announced a strategic growth plan targeting 4% annual energy production growth through 2030. This target encompasses the company’s entire output mix, including oil, gas, and electricity. The company projects significant expansion in its power generation segment, aiming for more than 20% annual growth to reach an output of 100–120 TWh per year by 2030.

To support this expansion, the company’s Board has formally adopted a new dividend policy, which aims for a dividend increase of more than 5% per year. Additionally, TotalEnergies is targeting a 12% average return on capital employed in its electricity segment by 2030.

CEO Patrick Pouyanné noted that market volatility and global disruption can create opportunities for large integrated companies with global portfolios. Despite production losses in certain areas due to geopolitical tensions, the company reported strong financial performance, including a significant rise in adjusted net income and substantial cash flow from operations.