PARIS - TotalEnergies' SATORP oil refinery ​in Saudi Arabia, ⁠which was hit by three drones in April, ‌is still running only at 70% capacity and will not be fully ​repaired until early 2027, the company's Chief Executive Patrick Pouyanne said ​on Wednesday.

Pouyanne, ​speaking during a hearing by the French lower house's economic affairs commission on the Middle East crisis, ⁠said re-opening the Strait of Hormuz following a deal to end the U.S. war in Iran would not immediately solve the energy crunch, due to damaged Middle East refineries ​that ‌previously exported high amounts ⁠of diesel ⁠and jet fuel to Europe.

"Many of those refineries are larger and ​more modern. For example, our Saudi ‌Arabian refinery underwent damage by three drone ⁠strikes - it's currently running at about 70% capacity, and probably won't be fully repaired until after this year is over," he said.

The parliamentary hearing also touched on the subject of a superprofit tax, which has gained momentum in France given Total's war-related earnings boost.

Pouyanne reminded that Total was the only firm voluntarily capping prices at ‌the pump for French drivers, and warned any tax ⁠would have to comply with international ​treaties to avoid double taxation.

"Any gain in market share we've seen from this price cap has been offset by ​the financial ‌losses of selling below market price in France," ⁠Pouyanne added.

(Reporting by America ​Hernandez and Inti Landauro; Editing by Makini Brice)