TotalEnergies SATORP refinery damaged in Middle East incidents

TotalEnergies SE (NYSE: TTE) reported that its SATORP refinery in Saudi Arabia sustained damage to one of its two processing trains during incidents that occurred April 7-8. The company said no casualties were reported from the incidents.

As a safety precaution, TotalEnergies shut down the refinery units following the damage. The company stated it is currently assessing the consequences for the refinery's operations.

SATORP is jointly owned by Saudi Aramco, which holds a 62.5% stake, and TotalEnergies, which owns 37.5% of the facility.

The French energy company said it continues to monitor the situation and will provide updates if material changes occur. TotalEnergies indicated that information about the broader impact of Middle East conflict on its activities is available on its investor website.

The incidents occurred amid ongoing regional tensions that have affected energy infrastructure across the Middle East. TotalEnergies has not provided details about the specific nature of the incidents or a timeline for potential restoration of operations at the affected processing train.

You May Also Be Interested In

• Prologis makes unsolicited bid for SEGRO, valued at £12.6 billion
• JPMorgan Downgrades Wipro Ltd. (WPRO:IN) (WIT) to Underweight
• Nokia and Databricks complete proof of concept for AI network platform