CONOCOPHILLIPS (COP) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that CONOCOPHILLIPS surfaced in its latest filing.

• WTI crude oil prices ranged from $80 to $55 per barrel over 2025.2025
• In January 2024, the U.S. announced a temporary pause on new authorizations of certain LNG exports, which was lifted in January 2025.January 2024 - January 2025
• In 2024, New York and Vermont passed legislation seeking to hold certain energy companies financially responsible for state climate change mitigation and adaptation measures, following a 'polluter pays' model.2024
• In December 2023, the EPA published a final rule revising regulations on methane and volatile organic compound emissions from new oil and gas production facilities and emission guidelines for existing facilities. In 2025, the EPA moved to dismantle some climate-related regulations, delaying compliance deadlines for methane standards and proposing to eliminate most obligations under the Greenhouse Gas Reporting Program.December 2023 - 2025
• Since 2017, cities, counties, governments and other entities in several U.S. states/territories have filed lawsuits against ConocoPhillips seeking compensatory damages and equitable relief for alleged climate change impacts.2017
• In 2025, a putative class action was filed against ConocoPhillips seeking to hold it liable for increased home insurance premiums allegedly due to climate change losses.2025
• Approximately 29 percent of our hydrocarbon production was derived from production outside the U.S. in 2025, and 31 percent of our proved reserves, as of December 31, 2025, were located outside the U.S.December 31, 2025