ExxonMobil (NYSE: XOM) reported that ongoing Middle East disruptions will reduce its first-quarter 2026 global oil-equivalent production by approximately 6% compared to the fourth quarter of 2025, according to a company statement.

The company's Middle East assets represent about 20% of global oil-equivalent production. Production disruptions began in March at certain assets in Qatar and the United Arab Emirates where ExxonMobil holds ownership interests.

In Qatar, attacks during the first quarter impacted two LNG trains in which ExxonMobil has ownership interest, accounting for approximately 3% of 2025 upstream production. The company stated that public reports indicate the damage will require a prolonged repair period, though it cannot comment on the timeline for returning the trains to normal operations pending an on-site evaluation.

For its Product Solutions segment, ExxonMobil expects Middle East disruptions and reduced crude availability at Asia Pacific operations to lower global Energy Products throughput by approximately 2% in the first quarter compared with the fourth quarter of 2025. Middle East assets represent about 5% of the company's global refining and chemical capacity.

The company also disclosed significant timing effects from commodity price increases between December 31, 2025, and March 31, 2026, estimating the impact at approximately $4.9 billion to $3.5 billion negative. The midpoint represents about $0.93 per share based on an estimated 4.2 billion average shares outstanding.

Despite the disruptions, ExxonMobil expects first-quarter earnings per share to be higher than the fourth quarter of 2025, excluding unfavorable timing effects. The company announced it achieved first LNG production from Train 1 at its Golden Pass terminal on March 30, 2026.