"One of the 'super five' integrated oil and gas companies, Royal Dutch Shell (NYSE: RDS.A) has a diversified portfolio of oil and gas assets around the globe," says international investing expert Nick Lanyi.

In High Yield International, he says, "As one of the more conservative plays on a falling dollar and a rebound in oil & gas prices, I am adding Royal Dutch Shell -- yielding of 5.8% -- to our 'Reliable Income' portfolio."

"The Amsterdam-based company's revenue is more gas-oriented than its other super-major peers; about 40% of production is natural gas.

"In addition, Shell is more focused on unconventional sources of oil and gas than most -- the company plans to derive more than 10% of its revenue from sources such as oil sands and liquefied natural gas by 2014. This coincides with Shell's long-standing reputation as an industry leader in technology and engineering.

This post is part of a special annual report -- Top Stock Picks '09 -- in which TheStockAdvisors.com asked 75 leading newsletter advisors to select their favorite investment for the new year.

Italy's Eni SPA ADR (NYSE: E) has one of the most successful and fastest-growing E&P operations of any major integrated energy firm," says energy expert Elliott Gue.

In his The Energy Strategist, he notes, "And despite its defensive characteristics, Eni offers an impressive 8.5%, the highest of the large integrated oils."

"ENI derives close to three-quarters of its operating income from exploration and production (E&P) and just 3.8% from refining and marketing.

"Thus, Eni has more leverage to E&P than most large integrated energy firms and less exposure to refining margins. The company's other main business is gas and power, accounting for close to 22% of operating income.

"Eni has one of the most successful and fastest-growing E&P operations of any major integrated energy firm. In the third quarter, Eni's production grew to 1.764 million barrels of oil equivalent per day (boe/d), up 6.3% over the same quarter a year ago, the fastest growth of any integrated firm in my coverage universe.

"And Eni has a large number of new projects scheduled to come onstream over the next three years that are poised to power further production growth.

Chevron (NYSE: CVX) is a buy based on the proprietary screening model used by Dow Theory Forecasts; the stock scores a 96 (out of 100), based on top ratings for quality and performance.

Editor Richard Moroney notes, "measured by proved reserves, Chevron is the fourth-largest oil company in the world. Refining and marketing assets include 20 refineries and about 20,500 retail sites in nearly 90 countries."

He explains, "High oil and gas prices and strong refining margins continue to drive Chevron's results. The company is working to improve its portfolio of production assets through acquisitions and international exploration, which should boost reserve replacement and production capacity."

With production slowing at its mature North American and North Sea assets, he points out that Chevron has been working to expand its portfolio in promising growth areas. (For example, in 2005, he observes, Chevron purchased Unocal for nearly $17.3 billion.)