TotalEnergies expects profit boost as oil prices rise due to Iran conflict

French oil and gas major TotalEnergies expects higher first-quarter profits, driven by increased production and stronger oil sales amid rising prices linked to the war in Iran.

The company said its quarterly performance would not be significantly affected by the Middle East situation, despite a disruption that led to a 15% reduction in its overall output, Caliber.Az reports via foreign media.

According to the company, European refining margins are expected to reach $11.4 per barrel in the first quarter, up 192% year on year and in line with forecasts issued at the end of 2025.

TotalEnergies said it lost around 100,000 barrels of oil equivalent per day of production in the Middle East.

However, additional output from other regions helped offset the decline, keeping total production broadly stable compared with the fourth quarter of 2025.

The company also noted that active trading during periods of market volatility contributed to higher revenues from liquefied natural gas (LNG), with LNG production rising by 10%.

TotalEnergies is due to publish its first-quarter results on April 29.

By Aghakazim Guliyev