10:48 AM EDT, 09/29/2025 (MT Newswires) -- TotalEnergies (TTE) said Monday it now expects net capital expenses to be roughly $16 billion in 2026 and in the range of $15 billion to $17 billion during 2027 through 2030, down $1 billion per year from its prior outlook.

The French energy giant's new capex outlook is part of a $7.5 billion cost-cutting plan spanning 2026 through 2030, it said.

TotalEnergies said it intends to raise energy production by about 4% annually through 2030.

Shares of the company were down 1.3% in recent Monday trading.

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