Friday, June 24, 2011

Oil Stocks Are Trading Lower Due to This Big Supply Release Today

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Oil futures and oil company stocks and ETFs are trading lower today after the International Energy Agency issued an announcement indicating that its constituent members have agreed to release 60 million barrels of oil over the coming month to account for supply interruptions that have resulted from Libyan unrest.  Following is a summary of oil stocks in today’s trading:

Exxon Mobil Corporation ( NYSE:XOM ): The shares are down $2.17, or 2.7%, to $77.67.  Its market capitalization is $385.13 billion.  About the company: Exxon Mobil Corporation operates petroleum and petrochemicals businesses on a worldwide basis. The Company’s operations include exploration and production of oil and gas, electric power generation, and coal and minerals operations. Exxon Mobil also manufactures and markets fuels, lubricants, and chemicals. Chevron Corporation ( NYSE:CVX ): The shares are down $3.92, or 3.88%, to $97.15.  Its market capitalization is $195.2 billion.  About the company: Chevron Corporation is an integrated energy company with operations in countries located around the world. The Company produces and transports crude oil  ( NYSE:USO ) and natural gas. Chevron also refines, markets, and distributes fuels as well as is involved in chemical operations, mining operations, power generation and energy services. BP plc ( NYSE:BP ):  The shares are down $1.24, or 2.88%, to $41.87.  Its market capitalization is $131 billion.  About the company: BP plc is an oil and petrochemicals company. The Company explores for and produces oil and natural gas, refines, markets, and supplies petroleum products, generates solar energy, and manufactures and markets chemicals. BP’s chemicals include terephthalic acid, acetic acid, acrylonitrile, ethylene and polyethylene. ConocoPhillips ( NYSE:COP ):  The shares are down $1.75, or 2.39%, to $71.42.  Its market capitalization is $11.96 billion.    About the company: ConocoPhillips is an international, integrated energy company which operates in several business segments. The Company explores for and produces petroleum, and refines, markets, supplies, and transports petroleum. ConocoPhillips also gathers and processes natural gas, and produces and distributes chemicals and plastics. Marathon Oil Corporation ( NYSE:MRO ): The shares hare down $1.79, or 3.39%, to $51.  It’s market capitalization is $36.3 billion.  About the company: Marathon Oil Corporation, through its subsidiaries, is an integrated oil firm with operations worldwide. The Company explores for and produces and markets liquid hydrocarbons and natural gas on a worldwide basis. Marathon also mines, extracts and transports bitumen from oil sands deposits in Alberta, Canada and refines, markets and transports crude oil and petroleum products. Royal Dutch Shell ( NYSE:RDSA ):  The shares are trading down $2.06, or 2.97%, to $67.24.  Its market capitalization is $208.35 billion.  About the company: Royal Dutch Shell plc operates as an oil and gas company worldwide. The company explores for, and extracts crude oil and natural gas. It also converts natural gas to liquids to provide cleaner burning fuels; markets and trades natural gas and power; extracts bitumen from mined oil sands and convert it to synthetic crude oil; and develops wind power to generate electricity. Eni S.p.A ( NYSE:E ): The shares are trading down $1.53, or 3.37%, to $44.01.  Its market capitalization is $79.46 billion.  About the company: Eni S.p.A. explores for and produces hydrocarbons in Italy, Africa, the North Sea, the Gulf of Mexico, Kazakhstan, and Australia. The Company both produces natural gas and imports it for sale in Italy and elsewhere in Europe. Eni transports natural gas ( NYSE:UNG ) in pipelines. The Company generates and trades electricity, refines oil, and operates gasoline service stations. Petroleo Brasileiro SA ( NYSE:PBR ):  The shares are trading down $1.07, or 3.26%, to $31.77.  Its market capitalization is $207 billion.  About the company: Petroleo Brasileiro S.A. – Petrobras explores for and produces oil and natural gas. The Company refines, markets, and supplies oil products. Petrobras operates oil tankers, distribution pipelines, marine, river and lake terminals, thermal power plants, fertilizer plants, and petrochemical units. The Company operates in South America and elsewhere around the world. Suncor Energy Inc. ( NYSE:SU ): The shares are trading down $1.17, or 3.04%, to $37.35.  Its market capitalization is $58.7 billion.  Suncor Energy, Inc. is a integrated energy company focused on developing the Athabasca oil sands basin. The Company extracts and upgrades oil sands into refinery feedstock and diesel fuel, explores for, develops and produces natural gas, refines crude oil and markets a range of petroleum and petrochemical products, and operates crude oil pipelines and retail petroleum stations. Repsol YPF S.A. (PINK:REPYY): The shares are trading down $1.05, or 3.24%, to $31.38.  Its market capitalization is $38.31 billion. Repsol YPF, S.A. is an integrated oil and gas company engaged the petroleum business, including exploration, development and production of crude oil and natural gas, transportation of petroleum products, liquefied petroleum gas (LPG) and natural gas ( NYSE:UNG ), petroleum refining, petrochemical production and marketing of petroleum products, petroleum derivatives, petrochemicals, LPG and natural gas.

( Note: Selected data are sourced from Yahoo! Finance.  All data are assumed to be accurate. )

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