TotalEnergies Sees Q1 Profit Surge on High Prices, Strong Trading ...Middle East

Higher oil and gas prices and volatile energy commodity markets are set to more than offset production losses from the Middle East at French supermajor TotalEnergies, which expects significantly higher upstream and LNG trading profits. In the early days of the war, TotalEnergies warned that the conflict had effectively shut in 15% of its global oil and gas output, while the now-offline barrels account for about 10% of the supermajor's upstream cash flow. Oil and gas production for the first quarter of 2026 is expected to be in line with fourth…

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