TotalEnergies said on its investor website that the ongoing U.S.-Israel war with Iran has forced a shutdown of fields across the Middle East and resulted in a 15% reduction in its oil and gas output. The French energy company quantified the disruption as representing about 10% of its upstream cash flow.
The company's post was the first confirmation from a major operator that outages in the United Arab Emirates are widespread as a result of the crisis. Qatar and Iraq had already announced production cuts; the UAE had not issued official data prior to TotalEnergies' statement.
TotalEnergies specified that its offshore production in the UAE is shut. The company noted that roughly half of the UAE's oil is produced from offshore fields, underlining the scale of the disruption where it is active.
On the revenue side, TotalEnergies said that an $8 per barrel increase in oil prices linked to the conflict would generate incremental income that more than offsets the impact of the lost volumes for the company this year, particularly as it plans to bring additional production online in other locations.
The firm added that operations at its SATORP refinery in Saudi Arabia are continuing as normal.
Market context and operational notes
TotalEnergies framed the production shortfall in cash-flow terms rather than as a simple volume loss, indicating the company is weighing price effects along with output disruptions. The statement simultaneously served as the first major corporate confirmation of extensive shutdowns in the UAE tied to the crisis, a detail that had not been officially disclosed by UAE authorities.
Disclosure
No additional disclosure was provided alongside the company update on its investor site.