TotalEnergies Targets Over 3% Annual Oil and Gas Output Growth Through 2030

TotalEnergies (NYSE:TTE) said Monday its oil and gas production will grow more than 3% annually through 2030, driven by start-ups of low-cost projects already under development, according to its 2026 strategy and outlook. Overall energy output, including oil, gas and electricity, is expected to rise about 4% per year by decade's end, with the Integrated Power division forecast to turn free cash flow positive in 2027. The company projects the production growth will add roughly $10 billion to free cash flow between 2025 and 2030 at the same price deck. TotalEnergies is betting on organic projects in Namibia, Nigeria, Libya, Malaysia, Mozambique and Papua New Guinea to hold production near 3 million barrels of oil equivalent per day through 2035, targeting 2-3% annual growth in 2030-2035. The board approved dividend increases of more than 5% per year for financial years 2026 through 2030 and confirmed shareholder returns of at least 40% of cash flow.