• Production has been shut down or is in the process of shutting down in Qatar, Iraq and UAE offshore, representing approximately 15% of total output.
• Onshore UAE production (~210 kb/d TotalEnergies share) is not affected by the conflict at this stage.
• The Middle East barrels’ CFFO is lower than the portfolio average due to higher taxation, and these 15% of volumes account for ~10% of Upstream cash flow.
• Growth of the company's 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: an $8/b increase in the Brent price is enough to offset the expected 2026 CFFO from Iraq, UAE offshore and Qatar assets at $60/b.
• Operations at the Satorp refinery are continuing normally for now and are supplying the Saudi domestic market.
• The impact of LNG production shutdowns in Qatar on the company's LNG trading activities is limited (around 2 Mt expected in 2026), as most Qatari LNG is marketed by QE.

TotalEnergies is continuing to monitor the evolution of the situation on the ground and will update you in case of material change of the above.

KeyFacts Energy: TotalEnergies France country profile