Energy sector on November 22
The companies in the energy sector were mixed on November 22. The United States Oil (USO) and the PowerShares DB Oil (DBO) fell 1.3% and 1.1%, respectively. The Energy Select Sector SPDR (XLE) fell 0.07%.
Total signed deal to develop Azerbaijan gas field
Total SA (TOT), a multinational integrated oil and gas company, announced on Monday, November 21, that it had signed a deal to develop the Absheron natural gas field in Azerbaijan. This natural gas field was discovered in 2011. Total will own 40% of the stake. SOCAR, the state oil company of Azerbaijan, owns 40%, whereas the remaining 20% will be held by French power utility Engie. Total SA in collaboration with SOCAR will produce 35,000 barrels per day of oil equivalent in the first phase of production. Since the beginning of 2016, Total has gained ~4.3%, and at 12:30 PM EST on Monday, November 22, it was trading at $46.86.
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 Tuesday, November 22:
- Encana (ECA) fell ~0.08%.
- Ecopetrol (EC) fell ~0.9%.
- Petrobras Argentina (PZE) fell ~1.2%.
- Aegean Marine Petroleum Network (ANW) fell ~2.3%.
- EQT GP Holdings LP (EQGP) fell ~3.5%.
The next article discusses the performance of companies in the metals and mining sector on Tuesday, November 22.