Global Energy Price disconnect

Shell

Market Cap: UK£163.5b

Operates as an energy and petrochemical company in Europe, Asia, Oceania, Africa, the United States, and other parts of the Americas.

TotalEnergies

Market Cap: €151.1b

An integrated energy company, produces and markets oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables, and electricity in France, the United States, Europe, Brazil, India, and internationally.

Enbridge

Market Cap: CA$171.7b

Operates as an energy infrastructure company.

Williams Companies

Market Cap: US$91.8b

Operates as an energy infrastructure company primarily in the United States.

Canadian Natural Resources

Market Cap: CA$116.3b

Engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs) in Western Canada, the United Kingdom sector of the North Sea, and Offshore Africa.

Phillips 66

Market Cap: US$69.8b

Operates as an integrated downstream energy provider in the United States, the United Kingdom, Germany, and internationally.

Eni

Market Cap: €60.6b

Operates as an integrated energy company in Italy, Other European Union, Rest of Europe, the United States, Asia, Africa, and internationally.

Suncor Energy

Market Cap: CA$90.2b

Operates as an integrated energy company in Canada, the United States, and internationally.

Cenovus Energy

Market Cap: CA$66.5b

Develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada, the United States, and China.

EQT

Market Cap: US$32.5b

Engages in the exploration, production, gathering, and transmission of hydrocarbons and natural gas.

Oil and Natural Gas

Market Cap: ₹3.0t

Engages in the exploration, development, production, and distribution of crude oil, natural gas, and value-added products in India and internationally.

Gazprom Neft

Market Cap: ₽1.8t

Public Joint Stock Company Gazprom Neft, an integrated oil company, engages in the exploration, development, production, and sale of crude oil and gas in Russia, the CIS countries, and internationally.

PTT

Market Cap: ฿1.0t

Engages in petroleum business in Thailand, Asia, Europe, America, and internationally.

Repsol

Market Cap: €24.3b

Operates as a multi-energy company in Spain, Peru, the United States, Portugal, and internationally.

DT Midstream

Market Cap: US$15.1b

Provides integrated natural gas services in the United States.

Ovintiv

Market Cap: US$15.0b

Operates as an oil and natural gas exploration and production company in North America.

APA

Market Cap: US$11.7b

An independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids.

Antero Resources

Market Cap: US$10.7b

An independent oil and natural gas company, engages in the development, production, exploration, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties in the United States.

Vår Energi

Market Cap: NOK 102.8b

Operates as an independent upstream oil and gas company on the Norwegian continental shelf in Norway.

Inner Mongolia Dian Tou Energy

Market Cap: CN¥68.0b

Engages in the research, production, and sale of coal products in China.

HD Hyundai

Market Cap: ₩14.8t

Through its subsidiaries, engages in oil refining business in Korea and internationally.

Range Resources

Market Cap: US$8.6b

Operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States.

Kinetik Holdings

Market Cap: US$8.0b

Through its subsidiaries, operates as a midstream company in the Texas Delaware Basin.

Hess Midstream

Market Cap: US$7.7b

Acquires, owns, operates, and develops midstream assets and provide fee-based services to sponsor, its subsidiaries, and third-party customers in the United States.

China Oilfield Services

Market Cap: HK$48.2b

Provides integrated oilfield services in China, Indonesia, Mexico, Norway, the Middle East, and internationally.

Koninklijke Vopak

Market Cap: €5.2b

An independent tank storage company, stores and handles liquid chemicals, gases, and oil products to the energy and manufacturing markets worldwide.

Weatherford International

Market Cap: US$5.9b

An energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide.

Solaris Energy Infrastructure

Market Cap: US$5.8b

Provides modular and scalable equipment-based solutions for power generation, control and distribution, and management of raw materials used in the completion of oil and natural gas wells in the United States.

Valaris

Market Cap: US$5.2b

Provides offshore contract drilling services in Brazil, the United Kingdom, Gulf of America, Australia, Angola, and internationally.

Golar LNG

Market Cap: US$5.1b

Designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas.

CNOOC Energy Technology & Services

Market Cap: CN¥34.2b

Operates as an offshore and onshore oil and gas production company in China and internationally.

CNX Resources

Market Cap: US$4.7b

An independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin.

Aradel Holdings

Market Cap: ₦6.2t

An integrated energy company, engages in the exploration, development and production of oil, natural gas, and petroleum products in Nigeria and internationally.

Whitehaven Coal

Market Cap: AU$6.2b

Develops and operates coal mines in Queensland and New South Wales.

MODEC

Market Cap: JP¥616.5b

Operates as engineering, procurement, construction and installation (EPCI) general contractor of floating production systems in Brazil, Guyana, Senegal, Cote d' Ivoire, Ghana, Mexico, and internationally.

Alamtri Resources Indonesia

Market Cap: Rp65.1t

Engages in the coal and mining business in Indonesia.