TOTALENERGIES' board has given its full backing to chief executive Patrick Pouyanne to continue to drive the supermajor's energy strategy, after carrying out a two-day review at the company's Paris headquarters. In a statement issued on Thursday, the board said: "Thanks to refocusing the oil and gas portfolio on assets and projects with low breakeven and low greenhouse gas emissions, and to the diversification into electricity - notably renewables - through an integrated strategy from production to customer, the company is in a very favourable position to take advantage of changing energy markets and prices" With a breakeven anchored below $25 per barrel, TotalEnergies said it is a "much more efficient and profitable company today than it was 10 years ago" because, at the same oil equivalent price, it generated an additional $15 billion of cash flow in 2022.
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