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The Syria deal involves geopolitically sensitive jurisdictions and U.S. sanctions risk; until regulatory clarity is achieved, investors typically discount any cross-border gas project, pressuring COP's stock.
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ConocoPhillips is reportedly poised to sign a contract with Syria's new government to revive gas production, according to the Financial Times, citing two familiar sources. The deal's value and terms weren't disclosed, and regulatory and sanctions considerations could determine whether the pact advances.
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