TotalEnergies SE (TTES:CA) Q2 2026 Earnings Call Transcript

Hello, everybody. Good afternoon or good morning for those who are in the U.S. And before Jean-Pierre will go through the details of the second quarter financials, I would like first to make a few opening comments. Starting, obviously, with the current conflict in the Middle East, which has picked up again in the last few days and which is clearly impacting our markets and our operations and our perspectives. Although, we are all hoping in mid-June that the resolution could be envisaged for the signature of the MOU and ceasefire between the U.S. and Iran. The situation has remained, to say the least, extremely volatile with the Strait of Hormuz almost being an intermittent battleground where the risk premium to navigate in these waters is increasingly high. Some are even beginning to consider that this could become a new normal with the strait opening on and off, depending on level of tensions between the parties. This unstable and chaotic