The Global Industry Classification Standard® (GICS®) assigns a company to business classifications, such as the Energy sector, according to its principal business activities. Sector is the first level of the four-tiered, hierarchical industry classification system that includes 11 sectors, 24 industry groups, 69 industries, and 158 sub-industries. The GICS assignment system uses quantitative and qualitative factors, including revenues, earnings, and market perception. GICS was developed in 1999 and is jointly managed by S&P Dow Jones Indices and MSCI.
The Energy sector comprises companies primarily engaged in:
• Oil and gas exploration, production, refining, marketing, storage, and transportation;
• Contracted drilling or ownership of drilling rigs that contract their services for drilling wells;
• Manufacturing equipment, including drilling rigs, and providing supplies and services to companies involved in the drilling, evaluation, and completion of oil and gas wells; and
• Production and mining of coal, related products, and other consumable fuels related to the generation of energy.