COP · 10-Q · 2026Q3 · Full report

Middle East Conflict Impact

CONOCOPHILLIPS · 2026-11-05 · Importance 44 · Surprise 24

The ongoing conflict involving Iran increased volatility in global energy markets and may elevate risks to regional operations, infrastructure and shipping routes. ConocoPhillips has investments in one producing Qatar LNG asset and two projects under construction; production remained constrained through the third quarter of 2026, although the company reported no physical damage or impairment indicators as of September 30, 2026. Qatar investments represented approximately 4% of total company production volumes in 2025, and further escalation could affect operations, LNG transportation and construction.

Key facts

• Further escalation of the Middle East conflict could adversely affect ConocoPhillips' Qatar operations, LNG transportation and construction, and cause broader supply chain impacts. source