4 Oil And Gas Stocks To Watch As Russia-Ukraine Conflict Intensifies

Russian President Vladimir Putin’s decision to send almost 200,000 troops into Ukraine as part of an invasion has sent the stock market into uncertain territory.

Oil demand and prices collapsed in the spring of 2020 to as low as $9 per barrel as COVID-19 prompted governments to shut down commerce and require millions of people to stay at home.

Yet quiet opportunities to invest in companies that are driving the industry forward are abundant. For example, crude oil prices have hit their highest since 2014 and appear to be pushing prices to near $100 a barrel, potentially making oil and gas stocks popular among nvestors. 

We’ve compiled a list of the top four oil and gas stocks to watch as Russian and Ukranian troops clash.

Exxon Mobil Corp XOM: After years of uncertainty over the project, Exxon finally signed an agreement with its partners and the Papua New Guinea government to clear the way for the development of the P’nyang gas field. The plant produced 8.4 million tons of liquified natural gas for export last year.  

Devon Energy Corp. DVN: Last week, Devon announced its fourth-quarter and full-year 2021 earnings report. The company reported net earnings of $935 million, or $1.39 per diluted share, for the quarter. Meanwhile, its operating cash flow for the full year of 2021 soared to $4.9 billion, a more than threefold increase year-over-year. This represents the highest total in the company’s 50-year history.

ConocoPhillips COP: Recently, the company announced that it has completed the purchase of an additional 10% shareholding interest in Australia Pacific LNG from Origin Energy for $1.65 billion. With this in place, it now owns a 47.5% interest in APLNG. 

Phillips 66 PSX Earlier this month, Phillips and H2 Energy Europe announced their commitment to developing up to 250 retail hydrogen refueling stations across Germany, Austria, and Denmark. This will be a 50-50 joint venture between their subsidiaries with a target timeline of 2026.