The new energy pecking order

The LNG race is on. Oil Search has now overtaken Santos, and sector leader Woodside has lost ground.

Australia’s oil and gas sector has a new pecking order, with Oil Search (OSH) overtaking Santos (STO)to claim the title of second-biggest pure-play petroleum stock. And, while Woodside (WPL) remains a clear leader there is no guarantee that it will retain top spot.

What drove Oil Search up to a market capitalisation yesterday of $14.5 billion is the same force which could drive Santos, now at $14 billion, higher next year, and Woodside, at $34.2 billion, down over the next few years.

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