TotalEnergies Reports 15% Cut In Production Over Middle East Conflict

TotalEnergies has expressed fears that the ongoing conflict in the Middle East has forced the shutdown or preparation for shutdown of offshore production in Qatar, Iraq and the UAE, affecting about 15 per cent of the company’s global output.

The disruption highlights the growing impact of regional instability on global oil and gas supply chains, as crude prices have surged above $100 per barrel.

According to the company, production from onshore UAE assets, representing roughly 210,000 barrels a day (bpd) net to TotalEnergies, remains unaffected for now.

Despite the production losses, TotalEnergies said higher oil prices could offset much of the financial impact.

The company noted that an $ 8-per-barrel increase in Brent crude prices would be sufficient to offset the expected 2026 cash flow contribution from its Iraq, UAE offshore, and Qatar assets at $60 per barrel.

Operations at the SATORP refinery in Saudi Arabia continue normally and are supplying the domestic market, the company said.

TotalEnergies also said the shutdown of some LNG production in Qatar is expected to have a limited impact on its global LNG trading portfolio, with around 2 million tonnes of LNG potentially affected in 2026.

The company said it is continuing to monitor the situation and will provide updates if conditions change.