Global Energy Undiscovered Gems With Strong Fundamentals

Mandiri Herindo Adiperkasa

Market Cap: Rp2.8t

Provides mineral and coal transportation services in Indonesia.

Citra Tubindo

Market Cap: Rp2.1t

Provides pipes and accessories, and related services to the oil and gas industries in Indonesia.

Dwi Guna Laksana

Market Cap: Rp1.8t

Engages in the coal mining and trading activities in Indonesia.

Resource Alam Indonesia

Market Cap: Rp2.0t

Engages in the coal mining in Indonesia.

Toyo Kanetsu K.K

Market Cap: JP¥26.0b

Engages in plant and machinery, material handling systems, and other businesses in Japan, Southeast Asia, and internationally.

Wison Engineering Services

Market Cap: HK$1.1b

An investment holding company, provides chemical engineering, procurement, and construction management services in Mainland China, the United States, the Middle East, Europe, and internationally.

Prima Andalan Mandiri

Market Cap: Rp17.6t

Through its subsidiaries, operates as a coal mining company in Indonesia.

Teekay

Market Cap: US$545.5m

Provides crude oil marine transportation and other marine services worldwide.

Jadranski naftovod d.d

Market Cap: €775.9m

Engages in the transport and storage of oil and oil products in the Republic of Croatia and internationally.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 65.7b

Processes heavy bitumen crude in Africa.

Vivo Energy Mauritius

Market Cap: MU₨11.7b

Vivo Energy Mauritius Limited markets and distributes fuels and lubricants to retail and commercial customers in Mauritius.

Conoil

Market Cap: ₦229.8b

Conoil Plc markets refined petroleum products, and manufactures and markets lubricants, household, and liquefied petroleum gas (LPG) in Nigeria.

Padma Oil

Market Cap: ৳18.0b

Engages in the procurement, storage, and marketing of petroleum products, lubricants, greases, bitumen, and LPG in Bangladesh.

Qinghai Jinrui Mining Development

Market Cap: CN¥3.0b

Produces and sells strontium salt products in China.

Heavy Engineering Industries and Shipbuilding Company K.S.C.P

Market Cap: د.ك160.4m

Operates as an engineering, procurement, and construction contracting company in Kuwait.

China Qinfa Group

Market Cap: HK$2.2b

An investment holding company, engages in the mining, purchase and sale, filtering, storage, and blending of coal in the People’s Republic of China and Indonesia.

Naphtha Israel Petroleum

Market Cap: ₪2.2b

Engages in the exploration, development, production, and sale of oil and gas in Israel and the United States.

Ratio Energies - Limited Partnership

Market Cap: ₪4.5b

Explores, develops, and produces oil and natural gas in Israel and internationally.

Shenzhen Guangju Energy

Market Cap: CN¥9.3b

Engages in the storage, transportation, and distribution of liquefied petroleum gas in China and internationally.

San Juan Basin Royalty Trust

Market Cap: US$239.6m

Operates as an express trust in Texas.

EnviTec Biogas

Market Cap: €527.2m

Manufactures and operates biogas and biomethane plants in Germany, Italy, Great Britain, the Czechia Republic, France, Denmark, the United States, China, Greece, Estonia, and internationally.

Lanna Resources

Market Cap: ฿7.7b

Lanna Resources Public Company Limited, together with its subsidiaries, manufacture and distributes coal.

Michang Oil Ind

Market Cap: ₩161.1b

Engages in the petrochemical business in South Korea.

National Petroleum Services Company K.S.C.P

Market Cap: د.ك86.7m

National Petroleum Services Company K.S.C.P.

Elridge Energy Holdings Berhad

Market Cap: RM 1.0b

An investment holding company, engages in manufacture and trading of biomass fuel products in Malaysia, Singapore, Indonesia, China, South Korea, Japan, and Thailand.

Equital

Market Cap: ₪5.1b

Through its subsidiaries, engages in the real estate, oil and gas, and residential construction businesses in Israel and internationally.

Permian Basin Royalty Trust

Market Cap: US$449.3m

Permian Basin Royalty Trust holds royalty interests in various oil and gas properties in the United States.

Seamec

Market Cap: ₹25.8b

Provides offshore oilfield and diving support vessel services in India and internationally.

Meghna Petroleum

Market Cap: ৳22.2b

Engages in the procurement, storage, and marketing of petroleum products and lubricants, bitumen, liquefied petroleum gas (LPG), and battery water in Bangladesh.

Likhitha Infrastructure

Market Cap: ₹10.8b

Engages in laying, erection, testing, and commissioning of oil and gas pipelines in India.

Lake Area Corn Processors

Market Cap: US$162.9m

Through its subsidiary, Dakota Ethanol, L.L.C., owns and manages an ethanol plant in South Dakota.

Al Mahhar Holding Company Q.P.S.C

Market Cap: ر.ق486.5m

Engages in the energy and infrastructure business in Qatar and internationally.

Kinetic Development Group

Market Cap: HK$9.9b

An investment holding company, engages in the extraction and sale of coal products in the People’s Republic of China.

PetroNor E&P

Market Cap: NOK 1.5b

Operates as an independent oil and gas exploration and production company in countries offshore West Africa.

Unit

Market Cap: US$259.2m

Engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States.

Naturelgaz Sanayi ve Ticaret

Market Cap: ₺5.7b

Engages in the purchase, compression, transportation, and delivery of natural gas in Turkey.