TotalEnergies raised its fourth‑quarter share buyback target to $2.5 bn and pledged dividend growth of over 5 % annually through 2030, capitalizing on oil prices above $100 /barrel after earlier weakness. The French giant reported stronger cash flows despite production disruptions from the Iran‑US war, and highlighted expanding output in regions like Namibia, Libya, Mozambique and Papua New Guinea. Total also forecasts electricity to comprise 20 % of its energy mix by 2030 as it pivots toward renewables.

Political pressure mounts in France, with opposition parties urging windfall taxes, while the government offers targeted relief for motorists. The company has kept forecourt prices subsidized, drawing criticism from other distributors. Analyst Biraj Borkhataria notes execution risks amid a pipeline of challenging projects, yet Total shares rose nearly 1 %.

The strategy update, led by Chair and CEO Patrick Pouyanné, underscores a shift from last year’s cautious outlook to aggressive shareholder returns and growth in both conventional and renewable energy.