The logo of French oil and gas company TotalEnergies is seen on a gas station in Drancy, France March 17, 2025. (Credit: Abdul Saboor/File Photo/Reuters)
French oil major TotalEnergies will lose 15% of its global production due to shutdowns in the Middle East related to the Iran war, it said on its investor website.
The company has shut down, or is in the process of shutting down, its production in Qatar, Iraq and offshore United Arab Emirates due to the crisis, it said.
TotalEnergies also said that a higher oil price, which has occurred as a consequence of the U.S.-Israeli war with Iran, would more than offset the loss of production in the Middle East.
French oil major TotalEnergies will lose 15% of its global production due to shutdowns in the Middle East related to the Iran war, it said on its investor website.
The company has shut down, or is in the process of shutting down, its production in Qatar, Iraq and offshore United Arab Emirates due to the crisis, it said.
TotalEnergies also said that a higher oil price, which has occurred as a consequence of the U.S.-Israeli war with Iran, would more than offset the loss of production in the Middle East.
