TotalEnergies Lowers Estimated Production Hit From Iran War
By Andrea Figueras
TotalEnergies expects a milder second-quarter hit from the war in the Middle East than previously expected after it restarted production in some of the region's countries.
The French energy major said Thursday that it expects the conflict to have hit second-quarter output by around 210,000 barrels of oil equivalent a day, down from its previous expectations of 360,000 barrels a day.
The improvement is mainly due to the ramp-up of production in offshore United Arab Emirates over the course of the quarter and the restarting of production in the other countries in the region during June, TotalEnergies said.
The company also expects hydrocarbon production for the second quarter to be at nearly 2.4 million barrels of oil equivalent a day, which should drive organic growth in line with the quarterly guidance of 4%.
While downstream results and cash flow are expected to increase sharply, its integrated liquefied natural gas performance is expected to weaken significantly, dragged down by underperforming gas trading activities.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
July 16, 2026 03:35 ET (07:35 GMT)
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