Aug. 7 at 10:24 PM
Barclays’ review of European integrated energy companies’ share-buyback programs following second-quarter results showed several firms increasing or adjusting their plans.
Eni raised its 2026 buyback target to €3.4 billion from €2.8 billion, while targeting shareholder distributions of 35%-45% of operating cash flow.
Shell plans to repurchase
$3 billion before reporting third-quarter 2026 results, targeting shareholder distributions of 40%-50% of operating cash flow through the cycle.
TotalEnergies expects to buy back up to
$1.5 billion in Q3, the top end of its
$750 million-
$1.5 billion quarterly range based on Brent at
$60-
$70 per barrel. It targets shareholder returns of at least 40% of operating cash flow.
Equinor doubled its 2026 buyback target to
$3 billion from
$1.5 billion and announced a third tranche of up to
$1.125 billion.
Overall, Barclays’ update highlights continued strong capital returns across Europe’s major integrated energy companies.
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