Energy sector gained on August 3
The companies in the energy sector gained on August 3 amid a huge drop in gasoline inventory levels. On August 3, at 3:05 PM EDT, the major ETFs related to the energy sector—the United States Oil ETF (USO) and the PowerShares DB Oil ETF (DBO)—gained ~3.3% and ~2.7%, respectively. The Energy Select Sector SPDR ETF (XLE) gained ~1.2%.
Production starts at Total’s Incahuasi Field in Bolivia
Total S.A. (TOT), the multinational integrated oil and gas producer, announced on Wednesday that it would start production in the Incahuasi gas field in Bolivia. According to the announcement made by the president of Total’s Exploration and Production, Arnaud Breuillac, this project is expected to produce 50,000 barrels of oil equivalent per day.
Breuillac added that the Incahuasi Field in Bolivia is one of the largest gas and condensate fields brought online in Bolivia. Its production is expected to help gas exports to Brazil and Argentina.
Since the beginning of 2016, Total S.A. has gained more than ~3%. At 1:20 PM on Wednesday, August 3, it was trading at $46.62, a drop of ~0.19%.
Top five performers in the major integrated oil and gas industry
Bottom five performers in the major integrated oil and gas industry
Below are the bottom five companies in the major integrated oil and gas industry on Wednesday, August 3.
- EQT GP Holdings LP (EQGP) rose by ~1.4%
- BP PLC (BP) rose by ~0.5%
- Royal Dutch Shell A (RDS.A) rose by ~0.16%
- Royal Dutch Shell B (RDS.B) rose by ~0.04%
- Total SA (TOT) rose by ~0.11%
The following article explains the performance of copper on Wednesday, August 3.