The dividend is confirmed for 2021 with $40 oil and the group is taking a moderate stance on the energy transition. While BP believes oil demand has already peaked, Total sees a peak by 2030 and undersupply following the low investments of 2020-22. Hence, the rationale to maintain its oil & gas operations (and grow in LNG) to fund the transition. The targets are decent in renewables as well, with 35GW of installed capacity by 2025.
01 Oct 2020
Maintain oil & gas to fund the transition
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Maintain oil & gas to fund the transition
TotalEnergies SE (TTE:LON) | 6,720 -2016 (-0.4%) | Mkt Cap: 160,396m
- Published:
01 Oct 2020 -
Author:
Kevin VO -
Pages:
2
The dividend is confirmed for 2021 with $40 oil and the group is taking a moderate stance on the energy transition. While BP believes oil demand has already peaked, Total sees a peak by 2030 and undersupply following the low investments of 2020-22. Hence, the rationale to maintain its oil & gas operations (and grow in LNG) to fund the transition. The targets are decent in renewables as well, with 35GW of installed capacity by 2025.