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Radio France Internationale
Radio France Internationale
National
RFI

TotalEnergies scales back on low-carbon investment as profits slump

French energy giant TotalEnergies will reduce investment in low-carbon research as it posted a sharp drop in net profit for 2024. © CHRISTOPHE ARCHAMBAULT/AFP

French oil and gas giant TotalEnergies has announced it will reduce its investments in low-carbon energy as it posted a sharp drop in net earnings for 2024, with after-tax profits sinking by 26 percent.

TotalEnergies has announced it is adjusting its strategy for 2025 by cutting back on investments in low-carbon energy, while marking a 26 percent drop in profits for 2024.

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