TotalEnergies Offsets 15% Production Cut, Boosts LNG 10%, Eyes Q1 Earnings Gain
TotalEnergies offset a 15% production cut from the Iran conflict by boosting output in Brazil and Libya and lifting LNG production 10% quarter-on-quarter. With Brent above $100 per barrel, the company expects higher Q1 cash flow and earnings and may have gained over $1 billion trading exportable Middle East cargoes.
1. First-Quarter Production Resilience
TotalEnergies saw its Q1 production remain stable after conflict in the Middle East shut roughly 15% of its output. The company mitigated the impact by launching new production at sites in Brazil and Libya to compensate for the lost volumes.
2. LNG Production Growth
Despite regional disruptions, TotalEnergies increased LNG production by 10% compared with Q4 2025 by optimizing operations and accelerating output at key liquefaction trains. The boost in LNG volumes also contributed to maintaining overall energy delivery targets.
3. Earnings and Trading Gains
With Brent crude trading above $100 per barrel, TotalEnergies projects stronger cash flow and higher Q1 earnings to be reported on April 29. The company also capitalized on market volatility, potentially earning over $1 billion by trading exportable Middle East oil cargoes.