TotalEnergies Resilient Against War

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Written by Daniel Graeber for IIR Energy Intelligence (Sugar Land, Texas)

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Summary

TotalEnergies downplayed the impact of the war on its operations in the Middle East, though it remains active in the region. Most of its growth this year is expected from outside the area.

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Some Production Shut In

While about 15% of its total production in the Middle East is sidelined, TotalEnergies said it was holding up against the regional conflict.

"Production has been shut down or is in the process of shutting down in Qatar, Iraq and United Arab Emirates offshore, representing approximately 15% of our total output," TotalEnergies said in a statement.

War in the Middle East erupted after U.S. and Israeli forces hit Iran on February 28, leaving Iran's Supreme Leader Ali Khamenei and a handful of top officials dead. With Iran striking back at regional energy assets, the price for Brent crude oil, the global benchmark, is up 40% since then to move above $100 per barrel for the first time since Russian forces attacked Ukraine in 2022.

Industrial Info is tracking $2.8 billion in Iraqi-related projects alone from TotalEnergies, the largest of which is the Ar Ratawi natural gas processing plant in Basra. Commercial operations could begin by 2028 at a facility with a processing capacity of 600 million cubic feet per day.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project and Plant databases can learn more about TotalEnergies in Iraq--including capacities, investment values and necessary equipment--from this project list.

Much of Iraq's production remains shut in, however, due to the war. Two vessels were ablaze off the coast of Basra last week after they were targeted by Iranian forces. IIR Energy issued an alert to clients as well that in the semi-autonomous Kurdish north of Iraq, the Lanaz Bitumen & Oil Refinery complex was hit by a drone.

Subscribers have access to the detailed plant profile.

War Engulfs Region

U.S. President Donald Trump during the weekend called for international maritime support to help keep the Persian Gulf and the Strait of Hormuz open to shippers. Attacks, however, have continued.

Apart from crude oil, natural gas markets are tight because Qatar declared force majeure, a contractual clause freeing it from its obligations due to circumstances beyond its control, on liquefied natural gas (LNG) because of the regional fighting.

Shell and TotalEnergies had already declared force majeure on Qatari LNG deliveries, sidelining product from the No. 2 supplier of the super-cooled gas, behind the United States.

On Friday, however, TotalEnergies said that the impact of the force majeure declarations had little impact on its trading activity for LNG as most of the LNG from Qatar is marketed by state-run QatarEnergy.

TotalEnergies is involved in the Ras Laffan LNG facility in Qatar. QatarEnergy evacuated staff from its Ras Laffan LNG facility last week in response to a nearby drone strike.

Subscribers can access that and other TotalEnergies projects in Qatar.

Onshore production in the United Arab Emirates (UAE), meanwhile, is not impacted by the conflict "at this stage," TotalEnergies added. Its share of onshore production is around 210,000 barrels per day.

"Growth of our accretive barrels is expected to come overwhelmingly from outside the Middle East in 2026, meaning that a higher oil price more than offsets the loss of Middle East production," the company added.

TotalEnergies reported fourth-quarter earnings in early February. Quarterly adjusted net income was $3.8 billion, down from $4.4 billion during the same period in 2024. Full-year adjusted net income dropped 15% year-on-year to $15.6 billion.

By the Numbers

• IIR data shows $2.8 billion in Iraqi-related projects from TotalEnergies
• 2026 expected to see more output from outside the Middle East

Key Takeaways

• TotalEnergies minimizes war impact
• The company is involved in one of the biggest LNG markets in the world

About IIR News Intelligence
IIR News Intelligence is a trusted source of news for the industrial process and energy markets, powered by Industrial Info Resources' Global Market Intelligence (GMI).

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).