Wood Mackenzie: Middle East conflict reshapes growth, resilience and partnerships across the region's largest NOCs

The Middle East conflict has tested major regional oil and gas companies ADNOC, Saudi Aramco, and QatarEnergy, with mixed outcomes. While Aramco and ADNOC have increased combined operating cash flow by $35 billion through alternative export routes, QatarEnergy faces the greatest challenges with facility damage and production losses. All three NOCs are prioritizing capacity restoration and export resilience, with increased reliance on strategic partnerships and international diversification to navigate the volatile geopolitical environment.