TotalEnergies to Spend 30% of Capex on Power Business ...Middle East

TotalEnergies plans to spend about 30% of its capital expenditure (capex) on boosting its integrated power business, Patrick Pouyanne, the chief executive of the French supermajor, said at an energy conference on Monday.  The company looks to increase the share of the power business in its portfolio to 20% by the end of the decade, the executive said at the ongoing Energy Asia conference in Kuala Lumpur, Malaysia. When Shell, BP, and Equinor backtracked on their pivot to renewables and reduced investments in low-carbon energy solutions, TotalEnergies…

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