“Additionally, we'll return $15 billion of capital for 2022, which represents over 50% of our projected CFO, well in excess of our greater than 30% annual commitment.”

In context

“oned to win in any environment. We remain committed to delivering on our triple mandate of responsibly and reliably meeting energy transition pathway demand, delivering competitive returns on and of capital and progressing towards achieving our net zero operational emissions ambition. As further evidence of this commitment, our third quarter results demonstrated record total company production. Lower 48 production hit a milestone at over 1 million barrels of oil equivalent per day, and we anticipate further growth in the fourth quarter. On returns, we generated a trailing 12-month ROCE of 27%. We increased our ordinary dividend by 11% to $0.51 per share, and we announced a $0.70 per share VROC for the first quarter of 2023, and we increased our share buyback authorization by $20 billion. Additionally, we'll return $15 billion of capital for 2022, which represents over 50% of our projected CFO, well in excess of our greater than 30% annual commitment. Now we believe that our CFO-based returns framework differentiates us relative to peers. And finally, our net zero operational emissions ambition, we recently announced a new medium-term methane intensity commitment consistent with our recent objectives of joining OGMP 2.0. From a strategic perspective, I want to provide an update on our global LNG initiatives. First, we were recently selected to participate in Qatar's North Field South project, following our selection earlier this year to participate in the North Field East, which adds to our long positive relationship with Qatar Energy. Second, we agreed to terminal services for a 15-year period at the prospective Brunsbuettel LNG import terminal in Germany. And third, we continue to progress our Port Arthur LNG project with Sempra, wh”