Paris, March 12 (SANA) French energy giant TotalEnergies announced on Thursday that it has suspended, or is preparing to suspend, a significant portion of its production operations in Qatar, Iraq, and several offshore facilities in the United Arab Emirates. The company cited the escalating military conflict between the United States and Israel on one side, and Iran on the other, as the direct cause for these operational shutdowns.
In a statement released via its investor portal, TotalEnergies revealed that the cessation of production in the Middle East will result in a roughly 15% loss of its total global output. The company specifically attributed this decline to the war’s severe impact on regional supply chains and the overall safety of the operating environment.
Despite the significant drop in volume, TotalEnergies reassured investors that the surge in global oil prices—triggered by these same regional tensions—is expected to largely compensate for the financial losses incurred by the production halts.
While high oil prices may cushion the financial blow, these shutdowns signal a defensive shift as energy giants prioritize safety over output. The global market now faces a contracting supply map and a high-stakes wait for a secure shipping corridor.
