TotalEnergies cuts Capex outlook by $1 billion a year in cost-savings push
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A sign with the logo of French oil and gas company TotalEnergies is pictured at a petrol station in Vertou near Nantes, France, October 26, 2022. REUTERS/Stephane Mahe
-French oil major TotalEnergies on Monday reduced its annual capital expenditure guidance by $1 billion through 2030 as part of a $7.5 billion savings drive.
The group now expects net capex of around $16 billion in 2026 and $15–17 billion annually between 2027 and 2030, it said in a statement.
(Reporting by Alban KacherEditing by Tomasz Janowski)
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