What is TotalEnergies' condition for resuming Middle East production operations?

TotalEnergies will not resume Middle East production until there is a 'real stabilisation' in shipping transit through the Strait of Hormuz, as stated by CEO Patrick Pouyanne; the company estimates it would take two to three months to restart production once conditions stabilize.

How much of TotalEnergies' upstream production is currently offline due to Strait of Hormuz disruptions, and what is the company's outlook on oil prices for 2026?

Approximately 15% of TotalEnergies' upstream oil and gas production is offline because it cannot ship cargoes through the Strait of Hormuz amid the ongoing Iran war; CEO Patrick Pouyanne noted that in all scenarios he has reviewed, average oil prices are expected to remain at least at $80 per barrel in 2026.

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TotalEnergies to wait for stable Strait of Hormuz transit before resuming operations in region

Apr 29, 2026

TotalEnergies delays Middle East production restart until Strait of Hormuz stability returns, impacting 15% of upstream output. CEO Patrick Pouyanne predicts $80/barrel oil prices by 2026 and aims to accelerate Mozambique LNG construction.

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