Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is ConocoPhillips (COP) Halal?

PASS

ConocoPhillips · NYSE: COP · Energy

The short answer

Yes — ConocoPhillips (COP) passes this Shariah stock screen at all three gates. It is a pure-play oil and gas exploration and production company (Alaska, Lower 48, Canada, EMENA, Asia Pacific, plus LNG marketing and a petrochemicals JV), with the Marathon Oil acquisition completed in November 2024 — no business segment falls on this screener's haram list. Total debt of $23,290M (June 30, 2026) is about 15.26% of its ~$152.64B market cap ($127.06, October 1, 2026), below the ~33% ceiling, and FY2025 interest income of about $311M is about 0.52% of $60,279M revenue, below the 5% ceiling. Note: Musaffa (AAOIFI) separately classifies COP as not halal as of September 2026, while ShariaPortfolio calls it Shariah-compliant — this is a factual screen, not a religious ruling; consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

ConocoPhillips (NYSE: COP), headquartered in Houston, Texas, is a pure-play oil and gas exploration and production company — segments: Alaska, Lower 48 (Permian Delaware/Midland, Eagle Ford, Bakken), Canada (Surmont oil sands, Montney), EMENA (Norwegian North Sea, Qatar, Libya, Equatorial Guinea, UK), and Asia Pacific (China, Malaysia, Australia), plus commercial operations and LNG marketing (12 MTPA offtake in Q2 2026). Q2 2026 production was 2,248 MBOED (Lower 48: 1,479 MBOED). The Marathon Oil acquisition closed in November 2024 (all-stock, ~$22.5B including debt at announcement), adding Lower 48, Bakken and international assets. It also holds a 50% interest in the Chevron Phillips Chemical petrochemicals JV. Business-screen implication (factual): no segment is in this screener's haram list (alcohol, gambling, pork, tobacco, weapons, conventional banking/insurance) — oil & gas E&P, LNG marketing and petrochemicals are the business. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Total debt was $23,290M at June 30, 2026 (Q2 2026 10-Q). The Q1 2026 10-Q balance sheet showed $1,065M short-term debt + $22,262M long-term debt = $23,327M, and the company's Q3 2025 8-K supplemental reported total debt of $23,482M (debt-to-capital 27%) — all consistent. Against a market cap of about $152.64B (1,201,337,479 shares outstanding × $127.06, October 1, 2026 close), debt ÷ market cap is about 15.26% — below the ~33% ceiling. Cash and investments of $7,692M (Q2 2026 10-Q) are about 5.04% of market cap. The debt gate passes. Facts only.

Gate 3 — Non-compliant income: PASS

FY2025 pre-tax interest income was about $311M — Zoya reports this figure from the FY2025 annual report, corroborated by the company's own Q4 2025 results (ROCE reconciliation: after-tax interest income of $247M, ≈$313M pre-tax at the ~21% statutory rate) and the Q3 2025 8-K supplemental (9M-2025 before-tax interest income $199M). Against FY2025 total revenues and other income of $60,279M, that is about 0.52% of revenue — below the 5% non-compliant income ceiling. The income gate passes. Facts only.

Key figures used

Frequently asked questions

What does ConocoPhillips do?

ConocoPhillips (NYSE: COP), headquartered in Houston, Texas, is a pure-play oil and gas exploration and production (E&P) company. Its segments are Alaska (including the Willow project), Lower 48 (Permian Delaware/Midland, Eagle Ford, Bakken — Q2 2026 production 1,479 MBOED of 2,248 MBOED total), Canada (Surmont oil sands, Montney), Europe/Middle East/North Africa (Norwegian North Sea, Qatar, Libya, Equatorial Guinea, UK), and Asia Pacific (China, Malaysia, Australia), plus commercial and LNG marketing — LNG offtake reached 12 MTPA in Q2 2026. It completed the acquisition of Marathon Oil in November 2024 and holds a 50% interest in the Chevron Phillips Chemical petrochemicals joint venture. Products are crude oil, bitumen, natural gas, NGLs and LNG.

Why does ConocoPhillips pass this Shariah stock screen?

ConocoPhillips passes this screen at every gate. Gate 1 (business): it is an upstream oil and gas E&P company with commercial/LNG marketing and a petrochemicals JV — none of its segments are in this screener's haram list (alcohol, gambling, pork, tobacco, weapons, conventional banking/insurance); the November 2024 Marathon Oil acquisition added more oil and gas assets, not a haram business. Gate 2: total debt $23,290M is about 15.26% of its ~$152.64B market cap, below the ~33% ceiling. Gate 3: FY2025 interest income of about $311M is about 0.52% of $60,279M revenue, below the 5% ceiling. Note: Musaffa (AAOIFI) separately classifies COP as not halal as of September 2026 — this is a factual screen, not a religious ruling; consult a qualified scholar for personal rulings.

What is ConocoPhillips's interest-bearing debt ratio?

Total debt was <strong>$23,290M</strong> at June 30, 2026 (Q2 2026 10-Q) — the Q1 2026 10-Q balance sheet showed $1,065M short-term + $22,262M long-term debt = $23,327M, and the company's Q3 2025 8-K supplemental showed total debt of $23,482M, all consistent. Against a market cap of about <strong>$152.64B</strong> (1,201,337,479 shares outstanding × $127.06, October 1, 2026 close), debt ÷ market cap is about <strong>15.26%</strong> — below the ~33% ceiling. Cash and investments of <strong>$7,692M</strong> are about 5.04% of market cap. The debt gate passes. Facts only.

What is ConocoPhillips's non-compliant income ratio?

FY2025 pre-tax interest income was about <strong>$311M</strong> — Zoya reports this figure from the FY2025 annual report; it is corroborated by the company's own Q4 2025 results (ROCE table: after-tax interest income of $247M, ≈$313M pre-tax at the ~21% statutory rate) and the Q3 2025 8-K supplemental (9M-2025 before-tax interest income $199M). Against <strong>FY2025 total revenues and other income of $60,279M</strong>, that is about <strong>0.52% of revenue</strong> — below the 5% non-compliant income ceiling. Interest and debt expense (an expense, not income) was $783M in FY2024. The income gate passes. Facts only.

Do Zoya, Musaffa, or ShariaPortfolio cover ConocoPhillips?

All three cover COP, and they disagree. <strong>Zoya</strong> covers COP and reports FY2025 interest income of $311M (≈0.53% of its $58,714M revenue line), but its public page renders contradictory auto-generated template text (simultaneously calling COP "considered halal" and "not considered halal"), so no clean Zoya rating is retrievable without the app — honestly reported as inconclusive. <strong>Musaffa</strong> covers COP and classifies it as <strong>NOT HALAL</strong> (AAOIFI methodology, as of September 2026); its page does not show the failing criterion. <strong>ShariaPortfolio</strong> covers COP and states it is <strong>Shariah Compliant</strong> ("passes 8/5 Shariah standards we screen against"). All honestly reported; this page applies the screen directly from the company's own filings.

Sources

Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).