3 Oil And Gas Stocks With Earnings Growth In A $90 Crude Market

Oil above US$90, disrupted supply routes and rising Treasury yields have turned energy into one of the most closely watched corners of the market. Some integrated producers could see stronger cash flows from higher crude prices, while others may feel the strain of higher financing costs and volatile demand. This article walks through 3 large, global oil and gas stocks exposed to these shocks so you can judge whether they fit your approach.

The stocks covered next are a small sample of the integrated producers that meet these filters, and the full screen surfaced 10 more large global oil and gas companies with similarly interesting risk and dividend profiles that are not covered here. To see the complete list and quickly identify which integrated producers best fit your thesis, head to the Global Integrated Oil & Gas Producers screener.

Naftna Industrija Srbije a.d (BELEX:NIIS)

Overview: Naftna Industrija Srbije a.d is an integrated oil and gas company in Serbia that runs the full chain from exploration and production of crude and gas through refining and fuel retail across the region, with more than 400 petrol stations under the NIS Petrol and Gazprom brands. It also trades petroleum products and electricity, provides extensive oilfield services and infrastructure work, and produces energy from both conventional and renewable sources.

Market Cap: RSD117.1b

Naftna Industrija Srbije a.d is one of the clearest pure plays on the integrated oil and gas theme in this screen, which is why higher crude prices and wider refining margins have such direct relevance. The company has moved from prior year losses to posting profits in both Q2 and the first half of 2026, with revenue above RSD 100b in the latest quarter, showing how its upstream and downstream mix can respond when conditions improve. Forecast earnings growth is stronger than the wider Serbian market, yet recent margin compression, a high dividend yield that is not well covered by free cash flow, and relatively low forecast ROE raise questions about how durable this rebound could be. Investors who want exposure to an integrated operator with meaningful income potential but are wary of balance sheet and dividend risks may find the trade offs here worth a closer look.

Naftna Industrija Srbije a.d’s rebound story, with profits back on the table and a high yield, looks appealing at first glance. The real question is how the cash flows, dividend coverage and margins stack up once you read the 1 key reward and 3 important warning signs (1 is major!).

China Suntien Green Energy (SEHK:956)

Overview: China Suntien Green Energy is a Mainland China utility that runs wind farms, solar projects and a sizeable natural gas business, including long distance pipelines, LNG terminals and CNG and LNG refueling stations. This gives it a foothold across both power generation and gas infrastructure, and positions the company as a partial fit with the integrated oil and gas theme, with more focus on gas and renewables than on crude production or refining.

Operations: China Suntien Green Energy generates most of its revenue from natural gas at about CN¥12.1b, with wind and photovoltaic power generation contributing roughly CN¥6.1b, while other activities are small and all revenue is recorded in Mainland China.

Market Cap: HK$26.9b

China Suntien Green Energy offers exposure to rising energy demand through a mix of natural gas distribution and renewable power, rather than relying on crude price swings. Forecast earnings growth above 14% a year and a P/E that sits well below sector averages have drawn value focused investors, while a 7.03% dividend yield adds income appeal. The trade off is that free cash flow and operating cash flow do not fully cover both debt and dividends, at a time when rates and funding costs are rising, and H1 2026 profit of CN¥1,280.97 million was softer than the prior year. If you are considering an integrated style energy stock with a gas and renewables tilt, it is worth understanding how these cash flows are being managed before forming a view.

China Suntien Green Energy’s mix of gas, renewables and a low P/E hints at a story the market may be pricing too cautiously, especially with that 7.03% yield. The real twist shows up once you read the 3 key rewards and 2 important warning signs (1 is major!).

Channel Infrastructure NZ (NZSE:CHI)

Overview: Channel Infrastructure NZ runs New Zealand’s key fuel import and storage hub at Marsden Point, with jetties, large scale storage tanks, pipelines to Auckland and leasing services that keep petrol, diesel and jet fuel flowing to transport users and airlines. The company sits on the downstream and midstream side of the Global Integrated Oil & Gas Producers theme by charging fees on fuel handled through its infrastructure rather than producing oil itself.

Market Cap: NZ$1.4b

Channel Infrastructure NZ gives you exposure to fuel demand, energy security policy and future fuels projects through an infrastructure style business that earns fees on storage and throughput. Recent revenue and earnings growth, plus multi year storage contracts linked to government diesel stockholding and airlines, support the case for more predictable cash flows. However, the high P/E ratio and elevated debt mean those cash flows need to keep proving themselves in a world of higher rates. Dividend payouts look appealing but coverage by earnings and free cash flow is thin, so income investors should pay close attention to funding costs and project execution. The bigger story around Marsden Point’s biorefinery and renewable fuels potential is where many investors may not yet be fully focused.

Channel Infrastructure NZ’s fee based fuel hub story, high P/E and debt load raise a bigger question: Are the contracts and future fuels projects enough of a cushion or a red flag? The 3 key rewards and 2 important warning signs (1 is major!)

Seeking Alternatives Before The Window Closes

Energy stocks are moving fast and the market’s attention will not stay here forever. Consider exploring fresh ideas while they are still under the radar.

• Spot under followed small caps that could be building quiet momentum with the 136 AI small caps before the crowd identifies the next wave of AI driven opportunities.
• Track companies generating strong cash and balance sheet strength using the list of solid balance sheet and fundamentals (437 results) while prices still reflect current levels of caution.
• Explore potential yield plus stability by scanning the 76 dividend fortresses while payout levels and prices have not fully adjusted to income focused demand.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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