TotalEnergies commits up to $17B/yr capex, holds output at 3M boe/d to 2035

TotalEnergies announced a five-year capital expenditure plan of up to $17 billion annually while maintaining oil-equivalent production near 3 million barrels per day through 2035. The guidance signals a steady-state investment strategy, prioritizing shareholder returns over aggressive growth. This is consistent with the company's recent capital discipline, though the explicit production plateau is a notable commitment.