TotalEnergies says production shutting down in Qatar, Iraq, UAE offshore

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TipRanks

Fri, March 13, 2026 astatine 11:30 AM CDT 1 min read

TotalEnergies (TTE) said that pursuing requests from immoderate of its shareholders to code its vulnerability to the Middle East, the institution said accumulation has been unopen down oregon is successful the process of shutting down successful Qatar, Iraq and UAE offshore, representing astir 15% of its full output. Onshore UAE accumulation is not affected by the conflict, arsenic it is exported done the Fujairah terminal, the institution added. “The Middle East barrels CFFO is little than our portfolio mean owed to higher taxation, and these 15% of our volumes relationship for 10% of Upstream currency flow,” TotalEnergies added. “Growth of our accretive barrels is expected to travel overwhelmingly from extracurricular the Middle East successful 2026, meaning that a higher lipid terms much than offsets the nonaccomplishment of Middle East production: a $8/b summation successful the Brent terms is capable to offset the expected 2026 CFFO from our Iraq, Qatar, UAE offshore assets astatine $60/b,” TotalEnergies noted.

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