James Dennin, Kapitall: Iran has the second largest oil reserve in OPEC. Now oil and gas stocks might be closer than ever to getting a piece. Ever since the 1979 Iranian hostage crisis, America has made it very difficult for Iran to do business, especially with the US. In the immediate wake of the crisis, Iranian assets were all but completely frozen, an action that international authorities have been slow to undo. Read more on Oil from Kapitall: Drill Baby Drill: 8 Cash-Rich Energy Stocks To this day, Iranian banks are not allowed to open international offices, and billions in Iranian oil revenues remain tightly locked in foreign banks around the world. All in an effort convince Iran not to keep its uranium. Now for the first time in decades the US appears close to relieving some of the embargoes on Iran. A new accord has been reached in Brussels which would automatically unfreeze about $4.2 billion in oil assets and roll back some of the toughest sanctions on oil, shipping, and auto manufacturing in Iran. The deal rests on promises that Iran will scale back its nuclear program – and desist enriching uranium beyond the benchmark where it can be used to generate power. For the time being, the move will have no bearing on American firms, who are still strictly forbidden from doing business with Iran. In the US even certain kinds of food and carpets from Iran are still banned. But a number of foreign oil and gas stocks, and even some of the companies that insure them, now will have access to a vast new market. Iran controls one of the largest oil reserves in the world. We compiled a list of foreign oil and gas stocks traded on US exchanges that may soon have access to the Iranian market. Do they merit further investigation?
Click on the interactive chart to view analyst ratings over time.Would a deal with Iran be a boost to any of these oil and gas stocks? Use the list below to begin your own analysis. 1. BP plc ( BP): Provides fuel for transportation, energy for heat and light, retail services, and petrochemicals products. Market cap at $151.03B, most recent closing price at $48.03.
2. Eni SpA ( E): Engages in the exploration, production, transportation, transformation, and marketing of oil and natural gas. Market cap at $88.16B, most recent closing price at $48.67.
3. Imperial Oil Ltd. ( IMO): Engages in the exploration, production, and sale of crude oil and natural gas in Canada. Market cap at $37.32B, most recent closing price at $44.03.
4. Petrobras Argentina SA ( PZE): Operates in the oil industry worldwide. Market cap at $1.33B, most recent closing price at $6.61.
5. Sasol Ltd. ( SSL): Operates as an integrated energy and chemicals company. Market cap at $30.42B, most recent closing price at $50.22.
6. Statoil ASA ( STO): Engages in the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products. Market cap at $73.2B, most recent closing price at $23.01.
7. Total SA ( TOT): Operates as an integrated oil and gas company worldwide. Market cap at $138.1B, most recent closing price at $60.65. ( List compiled by James Dennin, a Kapitall Writer. Analyst ratings sourced from Zacks Investment Research, all other data sourced from Finviz.)