TotalEnergies announced it is raising the value of its share buyback to $2.5 billion in the fourth quarter of 2026.
This compares to $1.5 billion in previous quarters. The move comes amid rising energy prices, which have boosted profits for major oil and gas companies.
Ahead of its meeting with investors, the French company revealed that it plans to buy back shares worth between $2 billion and $2.5 billion in the first quarter of 2027.
It also plans to increase dividend payouts by more than 5% annually through 2030.
TotalEnergies’ profits this year benefited from rising oil prices and strong trading activity, along with improved refining margins.
The company had recorded its strongest quarterly profit in about three years in the second quarter.
On the production front, the company expects oil and gas output to grow by 2% to 3% annually between 2030 and 2035, supported by projects nearing completion.
It noted that its proven reserves are sufficient for more than 12 years.
TotalEnergies plans net investments of between $14 billion and $17 billion annually from 2027 to 2032.
It also expects its net debt-to-equity ratio to fall below 10% by the end of 2026.
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