These Oil Companies Will Benefit from Heightened Middle East Risk

With oil (NYSE:USO) supplies in the Arab world under threat, energy companies are likely to benefit from rising oil prices.

The companies that will benefit most are those with high earnings leverage to oil prices. Equally important is low exposure to “high risk” countries like Libya, Algeria, Egypt, Yemen and Bahrain.

Based on a Citi (NYSE:C) report, we’ve identified the 10 companies that will benefit most. These include energy giants Gazprom, PetroChina and Chevron (NYSE:CVX).

#10 Gazprom (GAZPPE.RTS)

#10 Gazprom (GAZPPE.RTS)

How much EPS increases when the price of oil rise by $10: 10% Production exposed to high risk countries: 0%

Source: Citi

#9 PetroChina (0857.HK)

#9 PetroChina (0857.HK)

How much EPS increases when the price of oil rise by $10: 10.66% Production exposed to high risk countries: 0%

Source: Citi

#8 Devon Energy (NYSE:DVN)

#8 Devon Energy (<a href=

How much EPS increases when the price of oil rise by $10: 10.97% Production exposed to high risk countries: 0%

Source: Citi

#7 CNOOC (0883.HK)

#7 CNOOC (0883.HK)

How much EPS increases when the price of oil rise by $10: 13% Production exposed to high risk countries: 0%

Source: Citi

#6 Chevron (NYSE:CVX)

#6 Chevron (<a href=

How much EPS increases when the price of oil rise by $10: 14.77% Production exposed to high risk countries: 0%

Source: Citi

#5 INPEX (1605.jp)

#5 INPEX (1605.jp)

How much EPS increases when the price of oil rise by $10: 15.45% Production exposed to high risk countries: 0%

Source: Citi

#4 Imperial Oil Ltd (IMO.TO)

#4 Imperial Oil Ltd (IMO.TO)

How much EPS increases when the price of oil rise by $10: 19.06% Production exposed to high risk countries: 0%

Source: Citi

#3 Sasol (SOLJ.J)

#3 Sasol (SOLJ.J)

How much EPS increases when the price of oil rise by $10: 26.36% Production exposed to high risk countries: 0%

Source: Citi

#2 Alliance Oil (AOILsdb.ST)

#2 Alliance Oil (AOILsdb.ST)

How much EPS increases when the price of oil rise by $10: 28% Production exposed to high risk countries: 0%

Source: Citi

#1 Cdn Natural Rsc (NYSE:CNQ)

#1 Cdn Natural Rsc (<a href=

How much EPS increases when the price of oil rise by $10: 32.03% Production exposed to high risk countries: 0%

Source: Citi