September 2022 - Strategy and Outlook
Countering inflation through discipline and efficiency e
Keep strict investment criteria
Hydrocarbon projects
Profitability assessment
50 $/b
environment
Maintain best in class position
Operating costs*
$/boe
15
100 $/t
carbon price
Focus on low-cost projects
< 20 $/boe
Capex + Opex
< 30 $/b
or
After-tax breakeven
10
10
5
сл
ExxonMobil
Chevron
Shell
BP
Te
TotalEnergies
TotalEnergies
Strong focus on energy costs
Switch from natural gas to LPG
> 50% natural gas reduction
vs. 1H21 in our European refineries**
Energy saving special program
1 B$
additional Capex
in 2023 - 24
Will contribute
to lower Scope
1+2 target
by 2025
2014 2015 2016 2017 2018 2019 2020 2021
→ Unchanged criteria to ensure
profitability and sustainability
through the cycles
→ Keep discipline through tight cost
control
→ Targeting < 5 $/boe
→ Control energy costs and
accelerate emissions reduction
Growing returns while transitioning
* ASC932
** at comparable run-rate
September 2022 - Strategy and Outlook 17View entire presentation