Tuesday, May 02, 2006

Oil & Gas shares trading up.

Shares of Major Integrated Oil & Gas companies are up about 1.86% on the day, according to data from Yahoo! Finance. Repsol and Petrobras had opened lower in European trading on news of Bolivian gas nationalization. Repsol, the company most exposed to the Bolivian gas sector, closed down 0.63%.

Shares of companies with slight Bolivian exposure managed to shake off the news of nationalization, and powered higher on news of $74 a barrel oil. Shares of Petrobras are up 1.87% currently in American trading. France's Total SA is up $1.96 or 1.41%. Shares of BP also up on the day, with a 2.34% advance so far. Exxon Mobil and Britian's BG Group are also included among the firms higher today despite the nationalization.