TotalEnergies shuts down 15% of production due to Middle East conflict

TotalEnergies SE (Paris: TTE) (LSE: TTE) (NYSE: TTE) reported that production has been shut down or is shutting down in Qatar, Iraq and UAE offshore operations, representing approximately 15% of its total output due to Middle East conflict.

The French energy company said onshore UAE production of approximately 210,000 barrels per day remains unaffected by the conflict. The affected Middle East operations account for about 10% of upstream cash flow despite representing 15% of production volumes, due to higher taxation in the region.

TotalEnergies stated that growth from new production is expected to come predominantly from outside the Middle East in 2026. The company indicated that an $8 per barrel increase in Brent crude prices would offset the expected 2026 cash flow from operations lost from the Iraq, UAE offshore and Qatar assets at $60 per barrel.

Operations at the Satorp refinery continue normally and are supplying the Saudi domestic market, according to the company. The shutdown of LNG production in Qatar is expected to have limited impact on trading activities, affecting around 2 million tons in 2026, as most Qatari LNG is marketed by Qatar Energy.

The information confirms details previously released on the company's website on March 10, 2026, according to the press release. TotalEnergies said it continues to monitor the situation and will provide updates if material changes occur.

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