ExxonMobil expects its first-quarter 2026 results to reflect lower production following disruptions to assets in the Middle East, the company said in a supplement to its earnings considerations filing on April 8.
The company reported that certain assets in Qatar and the United Arab Emirates were affected by disruptions beginning in March. It stated that these impacts will reduce global oil-equivalent production by about 6% in the first quarter compared with the fourth quarter of 2025.
The affected assets form part of ExxonMobil’s broader Middle East portfolio, which accounts for roughly 20% of its global oil-equivalent production. However, the company noted that these assets contribute a smaller share to overall Upstream earnings.
In Qatar, attacks during the quarter damaged two liquefied natural gas (LNG) trains in which ExxonMobil holds an ownership interest. The company said these assets accounted for about 3% of its 2025 Upstream production.
“Public reports indicate the damage will take a prolonged period to repair,” ExxonMobil stated.
The company added that it is “unable to comment on the length of time before the two trains return to normal operations” pending an on-site evaluation.
Beyond production, ExxonMobil said disruptions in the region and reduced crude availability in Asia Pacific will lower global Energy Products throughput by about 2% in the first quarter compared with the previous quarter.
The company also outlined broader earnings impacts tied to timing effects from commodity price movements. It expects these effects to range between negative US$4.9 billion and negative US$3.5 billion relative to the fourth quarter, with a midpoint equivalent to about US$0.93 per share.
ExxonMobil said supply disruptions in the Middle East also prevented physical shipments linked to certain hedging positions, resulting in an additional earnings impact of between negative US$800 million and negative $600 million, recorded under identified items.
