TotalEnergies slashes share buybacks as falling oil and gas prices hit quarterly earnings
TotalEnergies reduced its quarterly share buybacks to 750 million dollars as lower energy prices hit profits. Strong refining gains failed to offset the slump.
Insights:
TotalEnergies SE , the energy major based in France 
FR, announced today that it will halve its first-quarter share buybacks to $750 million. This decision represents a material reduction from the $2 billion per quarter the company had maintained since mid-2022. The change applies immediately to the first quarter and signals a more cautious capital-allocation stance by the firm as it balances shareholder returns against shifting market conditions.
FR, announced today that it will halve its first-quarter share buybacks to $750 million. This decision represents a material reduction from the $2 billion per quarter the company had maintained since mid-2022. The change applies immediately to the first quarter and signals a more cautious capital-allocation stance by the firm as it balances shareholder returns against shifting market conditions.The move follows a report that fourth-quarter adjusted net income fell to $3.8 billion. According to the company, lower oil and gas prices during the period offset strong profits from its refining and chemicals business and proceeds from the sale of stakes in renewable assets. These factors have prompted leadership, including Patrick Pouyanne, to reduce the near-term capital returned to shareholders while maintaining focus on core segments such as the exploration segment and LNG.
