And of mean that terms our these environment. results largely this will clearly, part. the Jean-Pierre, than year. discipline we much markets 'XX risks -- the different for But doesn't year, in quite which we This investment lose in no very XXXX mind Thank positioned think clearly more that is you, we year in prudent. XXXX us quite visibility, last well. fact, Last a enter on
delivering where increase And outlook key for to Our delivering margins, is value utilization again the probably delivery, another refineries, for of delivering renewables, that clear a returns. rate priority all focus to a on of the 'XX shareholder our the terms production results. expansion on or teams and marketing our is year our strong year in of all is or the
the conservative. company down So at $XX is $XX told clearly, our and per we which as the plan our breakeven for quite outlook budget Jean-Pierre We shareholders. barrel you to know, for is But per you. have, less positive than barrel, like
commodity we there course, necessarily are say, would a are oversupply. markets side, I risk and material But supply in supply Of see on inherent, which to risks demand. not for the some do
grow Jean-Pierre in are you, independent yet. we, on XXXX like uncertainty behavior view, observe is situation if pace main a the not not in production oil of the Even shale side. all explained where shale We which factor this oil U.S. to will is because leading of obviously, a other producers oil will and to at investment oversupply, in my
side, of other on The course, is demand. the
of continuing pandemic, markets out to prepandemic On still at some aviation not are would get the fuel like demand, I say, the its yet clearly we level. is the
is still products. increasing more for So demand room for there oil
is we that So And the demonstrating clear we should to say, have environment. outlook XXXX results this would when weather to, we have forget again, for the that by ability resilient the environment. not to the a performance But favorable as a leverage XXXX, well -- are we I favorable harsh demonstrated the XXXX. year
navigate So a towards company going net now best and zero are transforming think transition multi-energy into TotalEnergies on can we the forward, I really focusing sustainable, world. that
the the is spoke which the just a decrease. is say, to the XXXX to of XXXX, ambition give these together core other, of COX company, jean-Pierre safety. you I So net by of XXXX reducing you value year about would zero getting I'm taking to with results society emissions, another emissions
by tons, specific X, to so that Scope you X by You remind a reduction excluding a figures on million XX% minus a impacts XXXX. from XX COVID have compared of which have target we I XXXX. XX% have been these and calculated
we journey So on well to that. are the
the not that including point. in which we that's perimeter is So first emissions XXXX. of in would the the are I CCGT remind you all well of the as figure this
So million which it's tons represents. X
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emissions some set as of our in tell as which already go to possible. really And and September. important to means our XX% and and revised It Sustainability the course, that for the I hard to a XXXX of can reduction be reported business decade we we next the in XX% natural Report we to for that of new you go soon March will end methane working target by involvement is We because, it's targets set next Climate zero in will are gas strong.
on demand sales can X the Then would X, can our of a Scope Europe anticipating. in say, the Scope that matter in I to to see driving it's So we on adapt, products see as consistency. emissions we you oil and our order down by are
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objective. the we on again, get way to are then So well the
results also and financial results strong set ones. not extra So to but think and like only also these of to it's a to results important, it's look more more financial I
yes, of $XX So in back strategy billion. capital coming to have $XX a announced we September investment billion, 'XX,
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plants, and invest the So to of need also to We need we maintain and reliability safety Downstream our to plants. refineries petrochemical maintain, invest. to
So necessary to our to of the is Renewables XX% stabilize to which and pillars. rest CapEx. to taken pillar Electricity and are One grow XX% this maintain global has under XX% is X grow,
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So there. teams are mobilized
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X. it So was plus plus X,
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maybe on I capacity, dream stream a that which And will the a you projects good means deliver be on middle look to people by will about spectacular the that working our happy is in to investors. countries serious, to invite many Cup the way, very the Qatar to we from go Qatar, One if visit in solar where in It's all CEO, are be [indiscernible] think, to XXX not it to But you XX-kilometer project in the by November it. to the what to think the I of So desert. but will plant World XX-kilometer solar be the the not build XXXX. our ground to all come will megawatts. definitely, only plants understand the invitation
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done commodity continue reporting competitors and that -- Board call know towards March also confirm carbon So We'll great strong that the investors to And annually. the opportunity presentation that, is we future, shareholders way development neutrality increase to progress can have in to importance. of return decided continue, and I why AGM, we from respect thanks projects you of we'll issue at that sustainable also and with will the of have price we the -- AGM this TotalEnergies. also attach into. only balance been -- to I will differentiator with would be the are selective have field. the in May accepting report the financial on insisted company We make have continue about see of more what has Report sustainability strategy. we on and But will In this shareholder XX, it. submit it's to that will transition but We the -- which done because, reach and more ended the resolutions same Sustainability the for report transformation to targeting risk end a yes, to vote Directors that review TotalEnergies' invest XXXX that to XXXX have we'll trajectory again, its to the has Progress and energy more an on presentation to we slide. XXXX. to help will the one it is are in which mix a The sheet that do that. we double-digit decision of in interestingly We it take our will year And contribute the progress climate Board entered is important. Obviously, attractive to last All XX final we not a PPAs -- resolution to the to line, is say, AGM, shareholders and do progress. we and the strategy. investors will some have stating to it The I be on linked on and the ask Climate extra AGM. have sustainable report Knowing This day already that my would of and And ambition advisory align to equity. order taken return why to capacity we -- my in and -- to not all the you are the that we that's say, today we again. what proposed the next we -- with other will the and that I a
and colleagues to your which ready attention. thank for attention. desk your room but answer questions. you So you in your the with behind for are now Thank not And to -- Jean-Pierre room, in my the the
