TotalEnergies said on its investor website on Thursday that the ongoing US-Israeli war against Iran is expected to reduce the company’s global oil production by 15 per cent. The French oil major said it has stopped, or is in the process of stopping, production at several sites in the Middle East, including locations in Qatar and Iraq as well as offshore fields in the United Arab Emirates, because of the military escalation in the region. TotalEnergies added that rising oil prices caused by the US-Israeli conflict with Iran would largely offset the production losses in the Middle East. This would limit the direct financial impact on the company and reduce the effect of the partial disruption to supplies. READ: In humiliation […]
This article was sourced from Middle East Monitor.
Read Full Article on Middle East Monitor →![The headquarters of French multinational integrated energy and petroleum company TotalEnergies is seen in La Defense, the business district, west of Paris, France on August 13, 2025. [Mustafa Yalçın - Anadolu Agency]](https://www.middleeastmonitor.com/wp-content/uploads/2025/08/AA-20250813-38820139-38820134-LA_DEFENSE_FRANCES_BUSINESS_DISTRICT.jpg)
