3 FTSE oil & gas stocks to buy for your long-term portfolio

The crude oil prices in the international market declined on Wednesday to trade below the USD 80 level following the rise in fuel stockpiles in the United States. As per the data released by the American Petroleum Institute (API), the gasoline stockpiles in the world’s biggest oil-consuming nation increased by 7.1 million barrels for the week ended 31 December.

The demand for crude oil remained relatively low during the last week of 2021 amid a rapid rise in the Covid-19 cases caused by the Omicron variant. However, some market experts predict that the recent rise in Omicron variant cases which is said to have a mild symptom, will not completely disrupt the fuel demand compared to the earlier estimate. Nevertheless, there will be some adverse impact due to international travel restrictions if imposed.

Moreover, on Tuesday, The Organization of Petroleum Exporting Countries (OPEC), decided to stick to their previous output increase plan. It will increase crude oil supply by another 400,000 barrels per day in February 2022, which indicates that OPEC nations have an optimistic view and expects no adverse impact on global crude oil demand due to the recent rise in new variant cases.

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Let us explore the investment opportunity in 3 FTSE listed oil & gas stocks:

Tullow Oil Plc (UK) (LON: TLW)

The oil and gas exploration company primarily operates in Africa and South America. The company’s business continues to perform well in the second half of 2021, reporting higher production output, in line with expectations.

For the six months to 30 June 2021, the total sales revenue was USD 727 million, while gross profit almost doubled to USD 321 million. The company will update its full-year production guidance for 2022 in the business update statement later this month.  

Tullow Oil Plc’s last close was at GBX 47.64 on 04 January 2022, with a market cap of £665.02 million.