Oil and gas investments (FOI)Oil and gas investments (FOI)
Produced by the Freedom of Information officeAuthored by Government of Jersey and published on
30 May 2019.Prepared internally, no external costs.
Request
Could you please provide:
A
A list of fossil fuel companies (oil and gas) the States of Jersey invests in, with the latest value of the investments, as part of the Common Investment Fund (CIF), or any other States of Jersey funds which are applicable to Freedom of Information (FOI) Law. Examples of fossil fuel companies would be BP, Chevron, and ExxonMobil.
B
A list of any mining companies and the latest value of investments the States CIF, or any other States of Jersey funds applicable to FOI law, invests in.
C
A list of any coal companies and the latest value of investments the States CIF, or any other States of Jersey funds applicable to FOI law, invests in.
Response
A response to a similar FOI request, made earlier this year, is available in the following link:
Investment in mining companies (FOI)
An update as requested has been detailed below:
A
Stocks are classified into various sectors based upon their primary industry as defined by the FTSE Industry Classification Benchmark (the ‘Index’).
'Oil and Gas’ is a defined industry within the Index. As at 30 April 2019 stocks were held in six entities classified by the benchmark to be a constituent of the ‘oil and gas’ sector. These are detailed below:
| Stock name | Value of holding as of 30 April 2019 |
| Cnooc Ltd | £8,700,000 |
| Brightoil Petroleu | <£100,000 |
| Reliance Inds Gdr | £4,100,000 |
| Apache Corp Com | £6,000,000 |
| EOG Resources Inc Com | £11,200,000 |
| Hong Kong and China Gas * | £6,100,000 |
*Engaged in only Gas extraction.
The Common Investment Fund (CIF) also holds shares in ‘Oil and Gas Services’ companies, which are not miners but provide primary services to miners such as seismic acquisition and processing, formation evaluation, well testing and other similar services, so have been disclosed for completeness and are detailed below.
Stock name | Value of holding as of 30 April 2019 |
| National Oilwell Varco Com Stk | £4,600,000 |
| Now Inc Com | £1,200,000 |
| Schlumberger Ltd Com | $4,100,000 |
B
‘Mining’ is a defined industry within the Index. As at 30 April 2019 stocks were held in one entity classified by the benchmark to be a constituent of the ‘mining’ sector, this is detailed below:
Stock name | Value of holding as of 30 April 2019 |
| BHP Group PLC | £3,900,000 |
C
’Coal’ is a defined industry by the Index. As at 30 April 2019 the CIF held no shares in entities deemed by the index to be engaged in the ‘Coal’ sector.
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