TotalEnergies boosts buybacks to $2.5bn and pledges higher dividends as oil surges to around $100 a barrel

From the Newshound archive · first published 28 September 2026 · last updated 29 September 2026.

TotalEnergies has raised its fourth-quarter share buyback target to $2.5bn and promised shareholders higher dividends, driven by surging crude prices trading at around $100 a barrel. The French energy giant's announcement marks a significant uplift in returns to investors as high fuel prices continue to swell profits. The move signals confidence that oil prices will remain elevated through the end of the year.

TotalEnergies had previously set a lower buyback target before the latest oil price surge prompted the revision upwards.

The $100-a-barrel price level is driving windfall profits across the energy sector, fuelling renewed anger over household fuel bills.

The dividend pledge adds to a package of shareholder rewards that critics will argue comes at the expense of consumers squeezed by high energy costs.