A collapsing Iranian rial, war risk tied to US and Israel actions, and rising hazards around the Strait of Hormuz are reshaping how investors think about global energy supply and pricing power. These shocks can reward some companies and challenge others. This article walks through three large integrated oil and gas stocks from our screener that are closely linked to this story and explains why their exposure to the news may matter to your portfolio.

The three companies profiled below are only a small sample of the larger integrated oil and gas universe, and the full screen surfaced 9 more stocks with equally detailed narratives that are not covered in this article. If you want to quickly identify which large producers best fit your risk, income, and quality preferences, head straight to the Global Integrated Oil & Gas Producers screener.

ADNOC Gas (ADX:ADNOCGAS)

Overview: ADNOC Gas is a large Abu Dhabi based gas processor and transmitter that turns associated and non associated gas from UAE oil and gas fields into saleable products for domestic and export customers, including LNG and natural gas liquids. The company runs a 3,260 kilometer pipeline network and supplies everything from natural gas and ethane to propane, butane, paraffinic naphtha, condensates and industrial gases, giving investors exposure to the gas value chain within a major regional energy hub.

Operations: ADNOC Gas generates all of its roughly US$16.3b in revenue from its Gas Business in the United Arab Emirates.

Market Cap: AED248.6b

ADNOC Gas gives you pure play exposure to the gas side of the Global Integrated Oil & Gas Producers theme, with a business that processes and transports large volumes of gas in a region where supply risks and pricing power are closely watched. The company has a high single digit dividend yield and a track record of board approved dividend growth targets, yet free cash flow coverage and a funding mix that relies on higher risk external sources mean income investors need to watch cash generation closely. Recent earnings were pressured by disruptions around the Strait of Hormuz, but management highlighted the ability to time maintenance and ramp production quickly when routes reopen, which can matter when regional shocks affect gas prices and export volumes.

ADNOC Gas pairs a high single digit dividend yield with heavy reliance on external funding. Get the full story on payout strength, cash coverage, and risk trade offs in the ADNOC Gas financial health report

Naftna Industrija Srbije a.d (BELEX:NIIS)

Overview: Naftna Industrija Srbije a.d is an integrated Serbian oil and gas company that explores and produces crude oil and gas, refines them into fuels and petrochemicals, and sells them through a network of around 400 petrol stations across Serbia and neighbouring markets. It also trades petroleum products and gas, generates and trades electricity, and provides oilfield and engineering services, which together give investors broad exposure to the full oil and gas value chain.

Market Cap: RSD117.1b

Naftna Industrija Srbije a.d fits this integrated producer screen because it links upstream production, refining and retail marketing inside one group, while offering a dividend yield of about 8.95%. Recent Q2 and H1 2026 results showed revenue growth and a move back to profit. This is relevant when geopolitical shocks around Iran and the Strait of Hormuz refocus attention on reliable regional suppliers. At the same time, weak free cash flow coverage of the dividend, reliance on external borrowing and low returns on equity mean this is not just a simple income story. Investors may wish to weigh funding and liquidity risks against the recent improvement in earnings before deciding whether NIIS merits a closer look.

Naftna Industrija Srbije a.d is shifting from recent losses to profit, yet its near 9% yield and funding mix raise bigger questions about resilience. Review the 1 key reward and 3 important warning signs (1 is major!) to see what might be hiding in plain sight.

Cheniere Energy (LNG)

Overview: Cheniere Energy is a major US LNG infrastructure company that liquefies natural gas at its Sabine Pass and Corpus Christi terminals, then loads it onto tankers for export to global buyers that want reliable seaborne gas outside chokepoints like the Strait of Hormuz. The company earns fees on LNG volumes processed and marketed, which ties it directly to global gas trade patterns while giving investors exposure to a large, integrated export and pipeline platform.

Operations: Cheniere Energy generates about US$20.9b in revenue from its integrated oil and gas activities, primarily through LNG related infrastructure and marketing.

Market Cap: US$58.0b

Cheniere Energy may merit further research if you are using this screen to find large, income oriented producers that can be affected when LNG supply routes are disrupted. Its US based export hubs have remained operational while Middle Eastern flows through the Strait of Hormuz have been constrained, and management has raised 2026 EBITDA and distributable cash flow guidance as new capacity ramps. At the same time, profit margins have come under pressure and the balance sheet carries high debt, which leaves less room for error if LNG prices or volumes soften. With analysts highlighting expansion, dividend growth targets and ongoing buybacks, a central question for investors is whether the current valuation reflects both that cash flow profile and the leverage related risk.

Cheniere Energy’s expanding LNG platform and rising 2026 cash flow guidance may be masking a bigger story about growth versus leverage. Get the 1 key reward and 2 important warning signs

Curious About What You Might Be Missing Next

Fresh ideas move fast. The strongest momentum, quiet breakout stories, and steady compounders often get caught by early screens while it matters and before the crowd. Act now.

• Spot strong balance sheets before momentum really starts flying by scanning the curated list of solid balance sheet and fundamentals (424 results) that filters for quality first, not hype.
• Identify potential income opportunities while yields and fundamentals still look aligned by reviewing the hand picked 414 dividend fortresses before prices react and yields start dropping.
• Track early trendsetters in digital assets as they build traction under the radar for now by running the focused 20 cryptocurrency and blockchain stocks.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.