This investors day provided more information about 2020-25. The focus will be on LNG, while exploration & production is set for a momentary break in 2021-23. Proper execution of the plan, combined with a $60/bbl oil, should raise cash flows by $1bn p.a. and the dividend by 5-6% p.a. ($400-500m p.a.). Note that acknowledgement of the weaker short-term picture did not stop the decision to increase the dividend. We see this as a sign of confidence in the group’s ability to deliver.
25 Sep 2019
LNG to fuel growth after 2021
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LNG to fuel growth after 2021
TotalEnergies SE (TTE:LON) | 6,720 -2016 (-0.4%) | Mkt Cap: 160,396m
- Published:
25 Sep 2019 -
Author:
Kevin VO -
Pages:
3
This investors day provided more information about 2020-25. The focus will be on LNG, while exploration & production is set for a momentary break in 2021-23. Proper execution of the plan, combined with a $60/bbl oil, should raise cash flows by $1bn p.a. and the dividend by 5-6% p.a. ($400-500m p.a.). Note that acknowledgement of the weaker short-term picture did not stop the decision to increase the dividend. We see this as a sign of confidence in the group’s ability to deliver.