TotalEnergies cuts Capex outlook by $1 billion a year in cost-savings push

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.