TotalEnergies sticks to winning formula
TotalEnergies is an outlier among other majors for remaining committed to low-carbon investments while continuing to replenish and expand its ample oil and gas portfolio, with an appetite for high risk/high return projects.
France’s TotalEnergies has been pursuing a consistent strategy for some time and currently looks unlikely to change course unless oil prices fall further. The company is something of an outlier among majors for remaining largely committed to its low-carbon plans as others have pivoted back to oil and gas. Nonetheless, TotalEnergies’ portfolio is underpinned by an extensive inventory of oil and gas assets and upstream spending will continue to make up the majority of its capex over the coming years. Growth potential TotalEnergies benefits from the strength and depth of its portfolio, with a variety of options offering potential for growth, according to Kim Fustier, the head of European oil an
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
