Energy

TotalEnergies CEO sees return to pre-pandemic U.S. shale output in 2022

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Total CEO Patrick Pouyanne attends a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, June 4, 2021. REUTERS/Evgenia Novozhenina

PARIS, July 29 (Reuters) - TotalEnergies' chief executive said on Thursday he expected U.S. shale oil production levels could return to pre-pandemic levels next year and that the group's capital expenditure in 2022 could reach $13-14 billion.

CEO Patrick Pouyanne told analysts the group would most likely target short cycle projects.

(This story corrects to show CEO was referring to a return to pre-pandemic levels of U.S. shale oil production, not group production, fixes typo in headline)

Reporting by Benjamin Mallet; Writing by John Irish and Christian Lowe

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