"TotalEnergies’ board has given its full backing to chief executive Patrick Pouyanne to continue to drive the supermajor's energy strategy, after carrying out a two-day review at the company's Paris headquarters."
"With a breakeven anchored below $25 per barrel, TotalEnergies said it is a "much more efficient and profitable company today than it was 10 years ago" because, at the same oil equivalent price, it generated an additional $15 billion of cash flow in 2022. The supermajor said by the end of last year it had built up a "fortress balance sheet" and is positioned to both implement its energy transition strategy and to "guarantee" an attractive shareholder return policy."
"The updated strategy will be presented to investors next week on 27 September."
PCL Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
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