TotalEnergies SE (NYSE:TTE) on Tuesday announced the start of production from Angola’s Quiluma offshore gas field, its first non-associated gas development.

The project is expected to produce about 330 million cubic feet per day, supplying the Angola LNG plant and supporting exports to Europe and Asia.

The company holds an 11.8% stake in the project, alongside Azule Energy, which operates the field with a 37.4% interest. Other partners include Cabinda Gulf Oil Company with 31% and Sonangol E&P with 19.8%.

Disruptions Amid Middle East Conflict

On Friday, TotalEnergies said escalating Middle East tensions have forced the shutdown or pending shutdown of operations in Qatar, Iraq, and the UAE offshore fields, affecting about 15% of its global production.

Separately, the company last week introduced temporary pump-price caps across France to shield consumers from volatility in diesel and gasoline markets.

Technical Analysis

TTE is trading 6.8% above its 20-day simple moving average (SMA) and 22.9% above its 100-day SMA, keeping the uptrend intact across both short- and intermediate-term timeframes. Shares are up 32.30% over the past 12 months ...