Middle East Conflict Halts 15% of TotalEnergies Oil and Gas Production

The war in the Middle East has effectively shut in 15% of TotalEnergies’ global oil and gas output, while the now-offline barrels account for about 10% of the supermajor’s upstream cash flow. Following requests from shareholders and to answer the question about the status of TotalEnergies’ exposure to Middle East, the France-based international major said on Friday that “production has been shut down or is in the process of shutting down in Qatar, Iraq, and UAE offshore, representing approximately 15%” of the group’s…