ENXTPA:TTEOil and Gas
TotalEnergies (ENXTPA:TTE) Is Up 7.7% After Middle East Shutdowns Offset By New Projects - Has The Bull Case Changed?
TotalEnergies recently shut down or began shutting down production in Qatar, Iraq and offshore UAE due to regional conflict, affecting about 15% of its global output and around 10% of upstream cash flow, while continuing operations in onshore UAE and at the Satorp refinery in Saudi Arabia.
At the same time, the company has brought new projects online in Angola, Libya and Brazil, helping to support LNG supply and oil production even as geopolitical tensions disrupt part of its Middle East...