Which oil and gas stocks are halal? Of the 7 names on this list, 6 pass AAOIFI screening today, 1 are doubtful and 0 are not halal. The halal names right now include Exxonmobil Holdings Corporation (XOM), Chevron Corporation (CVX), ConocoPhillips (COP) and 3 more.
Halal Oil and Gas Stocks
7 names, live verdicts, AAOIFI Standard 21
Extracting and selling oil is permissible under AAOIFI. What trips energy names is balance-sheet debt during the spending cycle, and because market cap is the denominator, verdicts here move with the oil price as much as with the debt itself. A producer can pass at one price and fail at another with the same balance sheet.
6
Halal
1
Doubtful
0
Not Halal
Halal (6)
Exxonmobil Holdings Corporation
$178.98
+2.46%
Chevron Corporation
$219.40
-1.19%
ConocoPhillips
$146.51
+3.37%
Occidental Petroleum Corporation
$60.67
EOG Resources, Inc.
$158.01
+4.23%
Slb N.V.
$49.50
+2.34%
How this list is screened
Every name is checked the same way: first the business itself (no core revenue from interest-based finance, alcohol, gambling, pork, adult content or tobacco), then three ratios against market cap and revenue: interest-bearing debt under 30%, interest-bearing deposits under 30%, and prohibited income under 5%. A name that passes the business test but sits close to a ratio limit is marked Doubtful. Verdicts are re-screened on a schedule and after earnings, which is why a list like this changes.
HalalScreener screens; it does not certify. A verdict is an application of AAOIFI Standard 21 to public financial data, not a fatwa. Ask a qualified scholar for a personal ruling.
Purification calculator
Work out what to give away from dividends on the halal names above.