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TotalEnergies chief summoned over Iran war 'superprofits'

by Agence France-Presse - AFP

Paris May 12, 2026 - 8:14 pm GMT+3
An activist wearing a mask depicting Patrick Pouyanne, Chairman and CEO of TotalEnergies, attends a staged protest action in front of a petrol station to denounce the profits made by fossil fuel multinationals on the occasion of the publication of TotalEnergies' first quarter 2026 financial results, in Paris, France, April 29, 2026. (Reuters Photo)
An activist wearing a mask depicting Patrick Pouyanne, Chairman and CEO of TotalEnergies, attends a staged protest action in front of a petrol station to denounce the profits made by fossil fuel multinationals on the occasion of the publication of TotalEnergies' first quarter 2026 financial results, in Paris, France, April 29, 2026. (Reuters Photo)
by Agence France-Presse - AFP May 12, 2026 8:14 pm

Patrick Pouyanne, the head of French energy giant TotalEnergies, will appear before parliament next month to answer questions over the company’s soaring profits during the Middle East conflict, the committee's head said Tuesday.

The company is among several oil and gas majors facing growing calls for a windfall tax to help offset the pain of higher fuel prices on consumers.

"With Total's tax situation back in the news, I have decided to call Mr. Patrick Pouyanne to appear before the Finance Committee. This hearing will take place on 17 June at 10:00 am," the commission's president, Eric Coquerel of the hard-left France Unbowed party, posted on X.

"Today, the issue of Total's taxes, which in 2025 saw it pay zero euros in corporation tax, and the question we are asking... regarding price caps are topical", Coquerel separately told AFP.

He said he had received a "positive" response from Pouyanne, who has appeared at several parliamentary and senate hearings since the 2022 energy crisis sparked by the war in Ukraine, which helped stack up record profits for multinational oil firms.

This year, TotalEnergies and a clutch of other major energy firms saw their first-quarter profits soar, in its case by 51 percent to $5.8 billion, prompting calls for more taxes on their outsize gains.

Coquerel said that Pouyanne "will no doubt face some rather difficult questions, but I believe he is expecting them."

TotalEnergies has implemented a cap on fuel prices at petrol stations in France and announced special offers for May bank holidays.

But Pouyanne said last week that such "socially responsible decisions" might be reversed if extra charges were brought to bear on its French operations.

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    us-israel-iran war iran war strait of hormuz france totalenergies patrick pouyanne oil crisis
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