TotalEnergies: Saudi Refinery Won’t Fully Recover Until 2027

A major Saudi Arabian refinery damaged during the Iran conflict will not return to full operations until early 2027, according to TotalEnergies CEO Patrick Pouyanné, raising fresh concerns about the pace of recovery in global fuel markets even as a U.S.-Iran peace agreement moves forward. Speaking before France’s National Assembly on Wednesday, Pouyanné said the 460,000-barrel-per-day SATORP refinery in Saudi Arabia is still operating at only 70% capacity after being struck by three drones in April. “Our Saudi Arabian…