Newsletters
French energy group TotalEnergies brought its Satorp refinery in Saudi Arabia back online in mid-April, restoring output after the site was damaged by Iranian attacks in early April.
The company confirmed on Wednesday that undamaged units resumed operations from April 14, lifting production to 230,000 barrels per day.
Satorp is jointly owned by Saudi Aramco, which holds 62.5%, and TotalEnergies with a 37.5% stake.
The Satorp facility had halted operations as a precaution after three units were hit, forcing a full stop of operations. With unaffected units gradually brought back online, the refinery has returned to partial capacity.
The French company had earlier outlined wider operational setbacks tied to the conflict, noting that shutdowns in Qatar, Iraq, and offshore UAE operations account for around 15% of its total oil and gas production.
Despite this, onshore UAE production, roughly 210,000 barrels per day attributable to TotalEnergies, has remained unaffected so far.
TotalEnergies also noted that rising crude prices have helped cushion the impact of supply disruptions, as it reported a 51% rise in first-quarter net profit to $5.8 billion.
The company added that an $8 increase in Brent prices is enough to offset expected 2026 cash flow losses from affected assets in Iraq, Qatar, and offshore UAE operations, which normally account for 10% of its upstream cash flow.
Production growth in Brazil and Libya also helped offset losses in the Gulf region, allowing the group to maintain overall output while benefiting from stronger prices.
Set as preferred source
Set as preferred source
1 min read
1 min read
