Global Energy Undervalued over 20% based on DCF

Valero Energy

Market Cap: US$84.0b

Manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally.

Marathon Petroleum

Market Cap: US$81.9b

Operates as an integrated downstream energy company in the United States.

Gazprom

Market Cap: ₽4.7t

Public Joint Stock Company Gazprom, an integrated energy company, engages in the geological exploration, production, processing, storage, transportation, and sale of gas, gas condensates, and oil in Russia and internationally.

Kinder Morgan

Market Cap: US$72.3b

Operates as an energy infrastructure company primarily in North America.

ADNOC Gas

Market Cap: د.إ263.1b

Engages in the processing of associated and non-associated gas from onshore oil and gas productions and transmission of related products in the United Arab Emirates.

SLB

Market Cap: US$70.9b

Engages in the provision of technology for the energy industry worldwide.

Targa Resources

Market Cap: US$59.6b

Owns, operates, acquires, and develops a portfolio of complementary domestic infrastructure assets in North America.

Imperial Oil

Market Cap: CA$83.1b

Engages in exploration, production, and sale of crude oil and natural gas in Canada.

Baker Hughes

Market Cap: US$57.1b

Provides a portfolio of technologies and services to energy and industrial value chain.

Orlen

Market Cap: zł161.9b

Operates in refining, petrochemical, energy, retail, gas, and upstream business.

PJSC LUKOIL

Market Cap: ₽2.5t

PJSC LUKOIL, together with its subsidiaries, engages in exploration, production, refining, marketing, and distribution of oil and gas.

Woodside Energy Group

Market Cap: AU$55.7b

Engages in the exploration, evaluation, development, production, marketing, and sale of hydrocarbons in the Asia Pacific, Africa, the Americas, and the Europe.

TechnipFMC

Market Cap: US$28.1b

Engages in the oil and natural gas projects, technologies, systems, and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally.

Tenaris

Market Cap: €24.2b

Manufactures and supplies steel pipe products and related services for the energy industry and other industrial applications in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Neste Oyj

Market Cap: €22.4b

Provides renewable diesel and sustainable aviation fuel in Finland, other Nordic countries, Baltic Rim, other European countries, the United States, and internationally.

Inpex

Market Cap: JP¥4.0t

Engages in the research, exploration, development, production, and sale of oil, natural gas, and other mineral resources in Japan and internationally.

ENEOS Holdings

Market Cap: JP¥3.4t

Through its subsidiaries, operates in the energy petroleum and natural gas development, functional material, electricity and city gas, and renewable energy businesses in Japan, Singapore, China, and internationally.

Indian Oil

Market Cap: ₹1.9t

Engages in the oil, gas, petrochemicals, and alternative energy source businesses in India and internationally.

China Merchants Energy Shipping

Market Cap: CN¥130.0b

China Merchants Energy Shipping Co., Ltd.

OMV Petrom

Market Cap: RON 72.3b

An energy company, engages in the exploration and production of oil and gas in Romania and rest of Europe.

PJSC Tatneft

Market Cap: ₽915.4b

Engages in exploration, development, and production of crude oil in Russia and internationally.

HF Sinclair

Market Cap: US$14.2b

Operates as an independent energy company in the United States.

ARC Resources

Market Cap: CA$17.6b

Acquires and develops crude oil, natural gas, condensate, and natural gas liquids in Canada.

ADNOC Logistics & Services

Market Cap: د.إ44.5b

Operates as an integrated energy maritime logistics company worldwide.

COSCO SHIPPING Energy Transportation

Market Cap: HK$93.7b

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

Subsea 7

Market Cap: NOK 100.3b

Subsea 7 S.A. delivers offshore projects and services for the energy industry worldwide.

Idemitsu KosanLtd

Market Cap: JP¥1.5t

Engages in the fuel oil, basic chemicals, functional materials, power and renewable energy, and resources businesses in Japan, Singapore, Asia, Oceania, North America, and internationally.

Frontline

Market Cap: US$8.6b

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

MOL Magyar Olaj- és Gázipari Nyilvánosan Muködo Részvénytársaság

Market Cap: Ft2.5t

Operates as an integrated oil and gas company in Hungary and internationally.

Gaztransport & Technigaz

Market Cap: €7.1b

A technology and engineering company, provides cryogenic membrane containment systems for the maritime transportation and storage of liquefied gases in South Korea, China, and internationally.

Oil India

Market Cap: ₹688.1b

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

Archrock

Market Cap: US$6.9b

Operates as an energy infrastructure company in the United States.

NOV

Market Cap: US$6.7b

Designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally.

Koninklijke Vopak

Market Cap: €5.4b

An independent tank storage company, stores and handles liquid chemicals, gases, and oil products to the energy and manufacturing markets worldwide.

NewMed Energy - Limited Partnership

Market Cap: ₪18.5b

NewMed Energy - Limited Partnership exploration, development, production, and marketing of natural gas, condensate, and oil in Israel, Jordan and Egypt.

Transocean

Market Cap: US$5.8b

Provides offshore contract drilling services for oil and gas wells in Switzerland and internationally.