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The latest announcement is out from TotalEnergies SE ( (FR:TTE) ).
TotalEnergies has confirmed that production has been shut down or is being shut down in Qatar, Iraq and offshore United Arab Emirates due to the Middle East conflict, affecting about 15% of its total output, while onshore UAE production of roughly 210,000 barrels a day remains unaffected. The company noted that these Middle East volumes generate around 10% of its upstream cash flow because of higher taxation and that its Satorp refinery continues to operate normally to supply the Saudi domestic market.
The group indicated that most of its accretive production growth in 2026 is expected to come from outside the Middle East, and that higher oil prices could offset the cash flow impact of the regional disruptions. TotalEnergies added that the effect of LNG shutdowns in Qatar on its LNG trading operations is limited, as most Qatari LNG is marketed by QatarEnergy, and said it is monitoring the situation on the ground for any material changes.
More about TotalEnergies SE
TotalEnergies SE is a global integrated energy company active in oil, gas, liquefied natural gas and refining, with a significant presence in the Middle East. The group operates upstream production assets and downstream facilities such as the Satorp refinery, and also engages in LNG trading, serving both domestic and international energy markets.
For a thorough assessment of TTE stock, go to TipRanks’ Stock Analysis page.