E Weekly Energy Roundup: Oil And Gas Companies, Jan. 8 - 12

Source: Fidelity Investments

Unlike many of the other companies discussed in this series, Eni was not named as a defendant in the New York City lawsuit, which may have to do with the fact that the company does much less business in the United States than any of the others discussed here. While this most likely means that it will not suffer the same financial consequences as the other companies will if the city wins the lawsuit, it may still see its stock impacted by this lawsuit as it is possible that the European Union will attempt to bring a similar lawsuit. I will admit though that I somewhat doubt this outcome, plus the Italian government’s stake in the company insulates it somewhat from this type of threat.

Statoil (STO)

Norway's Statoil is often the most stable entity price-wise in these weekly reports, likely due to the Norwegian government’s substantial ownership stake in the company. This was the case over the past week, although it also saw significant gains in the latter stages of the week along with its peers. ADRs of the company opened the week at $22.67 and closed out the week at $23.52. This gives Statoil a gain of 3.75% on the week.

Source: Fidelity Investments

Statoil had much less volatility than any of its peers over the trailing two-week period and delivered almost steady intra-day gains. The stock opened at $21.83 on January 2, 2018. As the stock closed out the two-week period at $23.52 per share, it delivered its investors a respectable 7.74% gain over the period.

Source: Fidelity Investments

As was the case with Eni, Statoil was not named as a defendant in the New York City global warming lawsuit and as such will be quite unlikely to suffer any significant financial penalties if the suit turns out against the industry. The stock will also not likely suffer any real consequences from the suit due to the Norwegian government’s substantial stake in the firm that provides it considerable stability.

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