Global Energy Undiscovered Gems With Strong Fundamentals

Vivo Energy Mauritius

Market Cap: MU₨13.0b

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 75.6b

Processes heavy bitumen crude in Africa.

Empresas Lipigas

Market Cap: CL$964.8b

Engages in the distribution and sale of liquefied petroleum gas (LPG), natural gas (NG), and liquefied natural gas (LNG) in Chile, Peru, and Colombia.

Padma Oil

Market Cap: ৳16.6b

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

Hemlo Mining

Market Cap: CA$1.8b

Engages in gold mining.

Epsilon Energy

Market Cap: US$118.6m

A North American onshore independent natural gas and oil company, engages in the acquisition, exploration, development, gathering, and production of natural oil and gas reserves.

Dwi Guna Laksana

Market Cap: Rp2.8t

Engages in the coal mining and trading activities in Indonesia.

Wison Engineering Services

Market Cap: HK$1.6b

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

Citra Tubindo

Market Cap: Rp4.8t

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

Jadranski naftovod d.d

Market Cap: €806.1m

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

GTS Internasional

Market Cap: Rp4.6t

PT GTS Internasional Tbk, together with its subsidiaries, transports liquefied natural gas worldwide.

Dolphin Offshore Enterprises (India)

Market Cap: ₹16.7b

Provides offshore and marine services to the oil and gas industry in India, Thailand, Mexico, Malaysia, Indonesia, Africa, and internationally.

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

Market Cap: د.ك153.7m

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

TotalEnergies EP Gabon Société Anonyme

Market Cap: €828.0m

Engages in the mining, exploration, and production of crude oil in Gabon.

Les Docks des Pétroles d'Ambès -SA

Market Cap: €90.0m

Provides logistics services of petroleum products in France.

Ratio Energies - Limited Partnership

Market Cap: ₪4.9b

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

Japan Oil Transportation

Market Cap: JP¥16.0b

Primarily engages in the transportation of fuel oils, liquefied natural gas (LNG) and other high-pressure gases, petrochemical products, and other related products in Japan and internationally.

Samindo Resources

Market Cap: Rp3.2t

Through its subsidiaries, operates as an integrated coal mining services company in Indonesia.

Wafi Energy Pakistan

Market Cap: PK₨45.3b

An energy company, markets petroleum products and compressed natural gas in Pakistan.

China Qinfa Group

Market Cap: HK$6.7b

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.

Qinghai Jinrui Mining Development

Market Cap: CN¥3.3b

Produces and sells strontium salt products in China.

National Petroleum Services Company K.S.C.P

Market Cap: د.ك153.6m

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

Flint

Market Cap: CA$145.2m

Provides upstream, midstream, and downstream production services in Canada and the United States.

Ipek Dogal Enerji Kaynaklari Arastirma ve Üretim

Market Cap: ₺21.9b

Engages in the research, development, and production of oil, natural gas, and energy and energy resources in Turkey.

Permian Basin Royalty Trust

Market Cap: US$803.5m

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

Lake Area Corn Processors

Market Cap: US$180.7m

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

Petron Malaysia Refining & Marketing Bhd

Market Cap: RM 1.1b

Engages in the manufacture, marketing, and sale of petroleum products for retail and commercial customers in Peninsular Malaysia.

Meghna Petroleum

Market Cap: ৳20.6b

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

Chennai Petroleum

Market Cap: ₹136.0b

Produces and supplies petroleum products in India.

Vantage Drilling International

Market Cap: US$162.7m

Operates as an offshore drilling company that provides offshore contract drilling services in the United States and internationally.

Naturelgaz Sanayi ve Ticaret

Market Cap: ₺6.9b

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

Unit

Market Cap: US$326.9m

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

Sinanen Holdings

Market Cap: JP¥69.1b

Engages in the energy and non-energy related businesses in Japan and internationally.

Pulse Seismic

Market Cap: CA$154.7m

Acquires, markets, and licenses two-dimensional (2D) and three-dimensional (3D) seismic data for the energy sector in Canada.

Conpet

Market Cap: RON 670.1m

Conpet S.A. transports crude oil, rich gas, condensate, and ethane by pipeline and railway in Romania.

Hengtong Logistics

Market Cap: CN¥6.6b

Engages in the logistics business in China.