TotalEnergies output down 15% due to US-Iran war

TotalEnergies production down 15% due to US-Iran war

PARIS, March 13, 2026 – TotalEnergies has shut down operations in the Middle East for approximately 15% of its total production, the company has said in a statement outlining its exposure to the US-Iran war.

Production has been halted, or is in the process of being shut down, in Iraq, Qatar and offshore the UAE as TotalEnergies tracks the evolving security situation in the region. The curtailed production in these countries represents approximately 15% of the company’s total output.

The company said the affected barrels account for about 10% of upstream cashflow because Middle East barrels deliver lower cashflow from operations (CFFO) than the portfolio average due to higher taxation. As TotalEnergies expects its accretive 2026 production to originate outside the Middle East, it calculates that an increase in the Brent price of USD 8 will offset the expected CFFO impact from Iraq, Qatar and UAE assets at USD 60 per barrel.

Onshore production in the UAE has not been affected by the conflict as it is exported through Fujairah. The share of output from these assets attributable to TotalEnergies is around 210,000 bopd.

In Qatar, the impact of LNG production shutdowns on TotalEnergies’ trading business should be limited to around 2 million tonnes in 2026 because most Qatari LNG is marketed by QatarEnergy.

In Saudi Arabia, the Satorp refinery is operating normally and supplying the domestic market.

Photo courtesy of TotalEnergies

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