08/10/2026 by Jay Hatton
Energy giant TotalEnergies has laid out its updated strategy and targets for the coming years, including annual 4% growth in energy production.
The CEO and chairman of TotalEnergies, Patrick Pouyanné, and other executive board members made the presentation in New York. The company is targeting an approximate $10 billion increase in free cash flow between 2025 and 2030, which it says translates into an extra $4 per share. This will be achieved through the overall energy production growth.
TotalEnergies, which makes the Total metalworking and lubricant fluids, says this will include growth in both hydrocarbons production and electricity generation. The former is expected to grow by at least 3% a year on average. The latter, meanwhile, is expected to grow by an average 20% a year to reach an increase of 100-120 TWh by the end of the decade.
In a press release, the company said about its plans beyond 2030:
“In oil and gas, TotalEnergies already possesses a rich portfolio of organic projects (Namibia, Nigeria, Libya, Malaysia, Mozambique and Papua New Guinea) and a proven reserves life index of more than 12 years, allowing the Company to maintain a production plateau of around three Mboe/d until 2035.”
It added that this provides the basis for targeting annual growth of 2-3% between 2030 and 2035, thanks to its established ability for exploring and developing potential resources. The company is also expected to continue its annual 100-120 TWh growth in electricity generation between 2030 and 2035. It says this will take electricity to a quarter of its energy mix.
You may also interested in:
US government applies Defense Production Act to increase oil production
Through a presidential memo, the US government has invoked an element of cold-war legislation to regard petroleum-related activities as being vital to national defence.
US company to increase Venezuelan oil production
North American Blue Energy Partners (NABEP), a privately-owned company, says it has already increased its Venezuelan oil production by 20,000 barrels each day since August.