TotalEnergies, Iraq Oil Output, Equinor: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

OIL & GAS PRODUCTION
TotalEnergies Output Down 15% Due to MidEast War - TotalEnergies has lost 15% of its oil and gas output as the U.S.-Israeli war with Iran shuts fields across the Middle East, including in the United Arab Emirates, Qatar and Iraq, the French oil major said on its investor website. That output ⁠accounts for about 10% of the company's upstream cash flow, it said. TotalEnergies added that income from an $8 per barrel rise in oil prices that has occurred as a consequence of the war ⁠would more than offset the loss of output in the Middle East this year as it brings online additional production ⁠elsewhere. (Reuters)

Oil Minister: Iraq to Maintain 1.4 Million-BBL/d Oil Output Amid War - Iraq will keep crude oil production at around 1.4 million barrels per day (BBL/d), Oil Minister Hayan Abdel-Ghani was quoted as saying on Thursday, less than a third of the level before the U.S.-Israeli conflict with Iran. Oil production from Iraq's main southern oilfields, where most of its oil is produced and exported, has plunged 70% to just 1.3 million BBL/d, sources told Reuters on March 8, as the country is unable to export via the Gulf due to the war. (Reuters)

Equinor Has No Spare Oil, Gas Production Capacity: CEO to Reuters - Norway's Equinor does not have spare capacity to lift its oil and gas output amid supply shortfalls from Middle East producers, the state-controlled company's chief executive officer (CEO) said on Thursday. "Our focus today is to make sure that we can be seen as a reliable provider of oil and gas to the markets we operate in and make sure we have the highest production possible, because it's really ⁠needed these days," Equinor CEO Anders Opedal told Reuters on the sidelines of an industry conference in Oslo. At the height of the 2022 energy crisis, Norway was able to ramp up exports almost ⁠10% via a mix of higher production quotas and adjustments to maintenance schedules. But the country has since produced at near maximum capacity and could not ⁠materially lift its output at this time, Opedal said. (Reuters)

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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 200,000 current and future projects worth $17.8 trillion (USD).