Insight

Strategy update: TotalEnergies' 2021 Strategy and Outlook

Get this report

$1,350

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- FAQs about online orders
- Find out more about subscriptions

05 October 2021

Strategy update: TotalEnergies' 2021 Strategy and Outlook

Report summary

TotalEnergies delivered a comprehensive strategy outlook. There was no big unveil. But the company stepped up the level of disclosure in what was a positive progress update. The differentiated dual growth strategy in LNG and renewable power is on track. Diversity – both geographically and across different technologies – is an important differentiator. Analysts also quizzed TotalEnergies on its capital allocation plans. The cash flow upside from spiking LNG prices was a hot topic. TotalEnergies was clear that its financial framework has to be sustainable at US$50/bbl. We take a look at the implications for buybacks and dividends.

Table of contents

    • Dual growth strategy on track
    • Managing risk through diversity
    • A sustainable financial framework
    • Financial framework – when will dividend growth resume?
    • Upstream: growth strategy confirmed
    • Portfolio improvement is a core focus for the oil business
    • The LNG growth engine: managing execution risk is key
    • Renewable and Electricity: big ambitions

Tables and charts

This report includes 8 images and tables including:

  • Combined hydrocarbon and low-carbon energy production (PJ/d)*
  • TotalEnergies' surplus cash flow* generation under our high-case Brent scenario
  • TotalEnergies' oil investment criteria
  • TotalEnergies’ production from LNG assets
  • TotalEnergies’ refining portfolio: 2019 NCM versus refining capacity
  • Breakdown of nominal free cash flow by Upstream, Downstream and Wind/Solar*

What's included

This report contains:

  • Document

    Strategy Update: TotalEnergies' 2021 Strategy and Outlook

    PDF 2.12 MB