Global Energy Undervalued based on future growth

Oil and Natural Gas

Market Cap: ₹3.0t

Engages in the exploration, development, and production of crude oil and natural gas in India and internationally.

Indian Oil

Market Cap: ₹1.9t

Indian Oil Corporation Limited, together with its subsidiaries, refines, pipeline transports, and markets petroleum products in India and internationally.

OMV

Market Cap: €14.6b

Operates as an oil, gas, and chemicals company in Austria, Belgium, Germany, New Zealand, Norway, Romania, the United Arab Emirates, the rest of Central and Eastern Europe, the rest of Europe, and internationally.

Tourmaline Oil

Market Cap: CA$22.8b

Engages in the acquisition, exploration, development, and production of petroleum and natural gas properties in the Western Canadian Sedimentary Basin.

YPF Sociedad Anónima

Market Cap: AR$17.9t

An energy company, engages in the oil and gas upstream and downstream activities in Argentina.

Ovintiv

Market Cap: US$10.6b

Explores, develops, produces, and markets natural gas, oil, and natural gas liquids in North America.

Hindustan Petroleum

Market Cap: ₹859.2b

Engages in the refining and marketing of petroleum products in India and internationally.

Hess Midstream

Market Cap: US$9.1b

Owns, operates, develops, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States.

Türkiye Petrol Rafinerileri

Market Cap: ₺319.7b

Engages in the refining crude oil, petroleum, and chemical products in Turkey and internationally.

China Oilfield Services

Market Cap: HK$57.1b

Provides integrated oilfield services in China, Indonesia, Mexico, Norway, Rest of Middle East, and internationally.

APA

Market Cap: US$7.0b

An independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids.

HD Hyundai

Market Cap: ₩9.1t

Through its subsidiaries, engages in oil refining business in Korea and internationally.

COSCO SHIPPING Energy Transportation

Market Cap: HK$46.4b

An investment holding company, engages in the transportation of oil and liquefied natural gas (LNG) in People’s Republic of China and internationally.

Saipem

Market Cap: €4.4b

Provides energy and infrastructure solutions worldwide.

Vallourec

Market Cap: €3.8b

Through its subsidiaries, provides tubular solutions for the oil and gas, industry, and new energies markets in Europe, North America, South America, Asia, the Middle East, and internationally.

CNX Resources

Market Cap: US$4.3b

An independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin.

Frontline

Market Cap: US$4.1b

A shipping company, engages in the ownership and operation of oil and product tankers worldwide.

Core Natural Resources

Market Cap: US$3.9b

Produces, sells, and exports metallurgical and thermal coals in the United States and internationally.

Murphy Oil

Market Cap: US$3.5b

Operates as an oil and gas exploration and production company in the United States, Canada, and internationally.

China Suntien Green Energy

Market Cap: HK$27.5b

Develops and utilizes clean energy in Mainland China.

Valaris

Market Cap: US$3.5b

Provides offshore contract drilling services in Brazil, the United Kingdom, U.S.

Alamtri Resources Indonesia

Market Cap: Rp55.2t

Engages in the coal and mining business in Indonesia.

Tidewater

Market Cap: US$2.5b

Provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of offshore marine service vessels worldwide.

Thai Oil

Market Cap: ฿75.4b

Engages in the oil refining and distributions, petrochemicals, lube base oil, and other businesses in Thailand and internationally.

DOF Group

Market Cap: NOK 23.0b

Owns and operates a fleet of offshore and subsea vessels.

Rattler Midstream

Market Cap: US$2.2b

Rattler Midstream LP owns, operates, develops, and acquires midstream and energy-related infrastructure assets in the Midland and Delaware Basins of the Permian Basin.

Seplat Energy

Market Cap: UK£1.6b

An independent energy company, engages in the oil and gas exploration and production, and gas processing activities in Nigeria, Bahamas, Italy, Switzerland, England, and Singapore.

Peabody Energy

Market Cap: US$2.0b

Engages in coal mining business.

Medco Energi Internasional

Market Cap: Rp32.1t

Explores for and produces oil and gas in Indonesia, Asia, Africa, the Middle East, the United States of America, and Europe.

Arabian Drilling

Market Cap: ر.س6.7b

Operates as an onshore and offshore gas and oil rig drilling company in Saudi Arabia.

DHT Holdings

Market Cap: US$1.8b

Through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, Norway, and India.

Mach Natural Resources

Market Cap: US$1.8b

An independent upstream oil and gas company, focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquids reserves in the Anadarko Basin region of Western Oklahoma, Southern Kansas, and the panhandle of Texas.

United Energy Group

Market Cap: HK$14.0b

An investment holding company, engages in the investment and operation of upstream oil, natural gas, clean energy, and energy trading businesses in Pakistan, South Asia, the Middle East, and North Africa.

Cmb.Tech

Market Cap: €1.5b

Engages in marine transportation business in Belgium.

Odfjell Drilling

Market Cap: NOK 17.5b

Engages in owning and operating mobile offshore drilling units primarily in Norway and Namibia.

Flowco Holdings

Market Cap: US$1.7b

Through its subsidiaries, provides production optimization, artificial lift, and methane abatement solutions for the oil and natural gas industry in the United States.