COP · 10-Q · 2026Q2 · Full report

Middle East Conflict Impact

CONOCOPHILLIPS · 2026-08-06 · Importance 37 · Surprise 42

Geopolitical tensions and the ongoing conflict involving Iran increased volatility in global energy markets and elevated risks to regional operations, infrastructure and shipping routes. ConocoPhillips has investments in LNG facilities in Qatar, including one producing asset and two projects under construction; production from those investments remained constrained through the second quarter of 2026. Qatar production represented approximately 4% of total company production in 2025, and further escalation could affect operations, LNG transportation, construction and broader supply chains.