As Sunni militants continue their offensive in western Iraq, the price of oil is surging, and the markets read the unstable situation as further evidence that Iraq will be unable to sustain its oil production levels of around 3.3 million barrels per day. The current flare-up in the Middle East has had the predictable knock-on effect on the shares of the major E&P companies, whose market values have all risen precipitously since Al Qaeda-breakaway group Islamic State of Iraq and Syria (ISIS) began swallowing up chunks of northern Iraq earlier this month. While the country only accounts for around 3.5 percent of global supply, the crisis comes amid earlier and ongoing conflicts in Syria and Libya, which have already disrupted nearly 2 million barrels a day of production.
As the world’s attention stays focused on Iraq, here are five dividend-paying oil companies to keep an eye on in the weeks and months ahead. Factored into my choices below are a company’s current and past dividend payouts, its ability to sustain its dividend or increase it, and the company’s future profitability: BP (NYSE:BP), Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM), Occidental Petroleum (NYSE:OXY) and Enerplus (NYSE:ERF).
Source: Wall St. Cheat Sheet
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Dividend-Paying Oil Stocks to Keep an Eye On
Posted by D4L | Wednesday, July 16, 2014 | ArticleLinks | 0 comments »________________________________________________________________
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