TotalEnergies SE held its Q2 2026 earnings call on July 23, where Chairman and CEO Patrick Pouyanné addressed the renewed conflict in the Middle East.
The company executive noted that the situation has remained extremely volatile since mid-June hopes for a resolution faded. He highlighted risks in the Strait of Hormuz, describing it as an intermittent battleground with rising navigation premiums.
Pouyanné stated that the conflict is impacting the firm's markets, operations and perspectives. Some observers now view the instability as a potential new normal, with the strait opening and closing based on tensions between parties.
The remarks came at the start of the earnings presentation, before Chief Financial Officer Jean-Pierre Sbraire reviewed quarterly financial details.
