TotalEnergies Delivers Resilient 2025 Cash Flow and Lifts Dividend Despite Lower Oil Prices
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TotalEnergies SE ( (FR:TTE) ) just unveiled an announcement.
TotalEnergies reported 2025 adjusted net income of $15.6 billion, down 15% year on year due to lower oil prices, while cash flow slipped only 7% to $27.8 billion, underlining resilient operations and a 12.6% return on capital, the highest among the majors. The group ended the year with gearing at 15% and proposed a 5.6% higher dividend of €3.40 a share, supported by $7.5 billion of share buybacks and continued balance-sheet strength.
Upstream production rose 3.9% in 2025, helped by seven major project start-ups and a reserve replacement rate of 116%, while operating costs were held at $5 a barrel and methane emissions were cut by more than 20%. Integrated LNG and power delivered solid earnings and cash flow, with LNG growth in the U.S. value chain and a 17% rise in power output, and downstream benefited from stronger European refining margins, as the company also advanced its gas-to-power strategy and recycled capital in renewables.
The board will seek shareholder approval for a final 2025 dividend of €0.85 per share and has confirmed 2026 share buyback guidance of $3 billion to $6 billion, authorizing $750 million in the first quarter to keep flexibility amid volatile prices. During the year TotalEnergies also shifted its New York listing from ADRs to ordinary shares and broadened its exploration footprint with new licenses and portfolio optimization in regions including Namibia, Algeria, the U.S., Nigeria and Asia.
More about TotalEnergies SE
TotalEnergies SE is a global integrated energy group active in oil, gas, LNG, refining, chemicals and power, with a growing focus on low‑carbon electricity and renewables. The company targets balanced, disciplined growth across upstream hydrocarbon production, LNG value chains, downstream refining and marketing, and integrated power, particularly in Europe and the United States.
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