UPDATE 1 — TotalEnergies raises fourth — quarter share buybacks to $2.5 billion

(Adds details on dividend and buybacks in paragraph 2, context in paragraph 3.) Sept 28 (Reuters) — TotalEnergies said on Monday it was increasing fourth-quarter share buybacks to $2.5 billion, up from $1.5 billion in recent quarters, as high global energy prices boost returns for oil and gas majors. The French company also said it would buy back between $2 billion and $2.5 billion in shares in the first quarter of 2027 and increase its dividend by more than 5% annually through 2030. TotalEnergies' profit surged this year thanks to higher oil prices, strong trading results and bigger refining margins on the back of the Iran war, with its second-quarter earnings at the highest level in nearly three years. (Reporting by Dimitri Rhodes in Gdansk, editing by Milla Nissi-Prussak) ((Dimitri.Rhodes@thomsonreuters.com)