Petrofac’s Post

ADNOC Logistics and Services (ADNOC L&S) said its nine-month profit soared by 162 per cent year-on-year (YoY) to $455m (Dhs1.7bn) or $0.06 per share compared to $173m (Dhs635m for the corresponding period a year ago. The Abu Dhabi-listed company’s revenues in the nine months to September 30 jumped by nearly 50 per cent to reach $1.92bn (Dhs7.1bn) compared to the same period a year earlier. The company’s board of directors approved an interim cash dividend of $65m (Dhs239m) for Q2 2023, equivalent to 3.2 fils per share. ADNOC Group | #ADNOC | #Energy | #Logistics | #profitability

💰World’s Largest Payout... 💰 The oil giant Saudi Aramco's distributions equate to one and a half times the major energy companies combined and six times that of Microsoft. #SaudiAramco, the global oil giant, surpassed all publicly traded companies in cash distributions for Q2 2023, marking it as the largest payout by any public company globally. #Aramco's cash distributions for Q2 2023 amounted to SAR 110.2 billion ($29.4 billion), outperforming the world's leading profit distributor, #Microsoft, by 481%. This means Aramco’s distributions were almost six times larger than Microsoft’s, which stood at around $5.06 billion. In Q2 2023, Aramco's distributions exceeded by 144% the combined payouts of the five largest energy companies behind it, totaling $12.06 billion. These oil companies include Exxon Mobil, Chevron (#USA), Total (#France), Shell (#Britain and #Netherlands), and BP (#UK). The distributions of these five companies were as follows, with their percentage relative to Aramco: 🔻 #Exxon Mobil: $3.7 billion (12.6% of Aramco's distribution) 🔻 #Chevron: $2.8 billion (9.5% of Aramco's distribution) 🔻 #Total: $2 billion (6.8% of Aramco's distribution) 🔻 #Shell: $2.2 billion (7.5% of Aramco's distribution) 🔻 #BP: $1.3 billion (4.4% of Aramco's distribution) Saudi Aramco's profits surpassed its closest competitor, Exxon Mobil, by 695% in the first quarter of the current year. While the difference reached over 2200% when compared with BP's profit distributions. What's next ?🤷👇 Here’s how you can show your appreciation: 👍 Give this post a thumbs up ➕ Follow me for more Finance and Business Tips 🔔 Ring the bell icon on my profile to be notified of future posts #payout #dividends #distribution #liquidation #saudiaramco #q2results #financialanalysis #ratioanalysis #financialstatementsanalysis #financialcomparablefigures #cfo #investment #roi #investmentanalyst #broker #stocks

This article highlights ADNOC's consideration of buying a majority share of BP. I honestly think that it's preposterous for ADNOC to even consider doing so because of the fact that BP is about ten times the value of ADNOC. Although ADNOC passed over BP, it's interesting to see how BP is doing compared to other oil companies. BP stock has been declining compared to oil companies, and there is a general trend of American companies growing more than European ones. It's also a general problem in the UK itsself, with many British firms in other industries being bought out by foreign capital. It's interesting to see if BP will move towards a merger with another supermajor, such as Equinor or Total. According to some analysts, it's only a matter of time before BP gets snatched up. #pge301 https://lnkd.in/gjxbnKRU

ADNOC, which stands for Abu Dhabi National Oil Company, is a state-owned oil and gas company based in Abu Dhabi, United Arab Emirates. It is one of the world's largest oil companies and operates across the entire oil and gas value chain, including exploration, production, refining, and distribution. bp, formerly known as British Petroleum, is a multinational oil and gas company headquartered in London, United Kingdom. It is one of the "supermajor" oil companies and operates in all areas of the oil and gas industry, including exploration, production, refining, and marketing. The discussions between ADNOC and bp were reportedly driven by ADNOC's interest in expanding its global presence and potentially acquiring a stake in bp. However, ADNOC ultimately decided that bp did not align well with its strategic plans. In recent years, there has been a trend of consolidation in the U.S. oil and gas industry, with companies like ExxonMobil and Chevron making significant acquisitions. This consolidation has been driven by factors such as cost synergies, increased efficiency, and strengthening market position. On the other hand, European oil companies, including bp, have seen relatively less M&A activity. However, analysts have been speculating that bp could become a takeover target, as investors have been pushing for a renewed focus on oil and gas assets. In contrast to bp's potential shift towards a more diversified energy portfolio, ADNOC has recently announced plans to increase its oil and gas production. This strategic focus on expanding production capacity positions ADNOC to potentially acquire a smaller global energy company like bp, which could complement its growth plans. It's important to note that all the information provided is based on sources and reports, and the actual outcome of any potential acquisition or consolidation remains uncertain.

Déjà vu in Oil Mergers? ADNOC Rekindles Takeover Interest in BP The potential acquisition of BP by Abu Dhabi National Oil Company (ADNOC) resurfaced recently, with both companies engaging in discussions. This isn't the first time ADNOC has considered such a move, with reports of similar interest emerging in 2011. However, talks ultimately stalled due to strategic misalignment and potential political hurdles. This news reignites discussions about BP's vulnerability as investors question its green energy commitment, while highlighting ADNOC's global expansion ambitions as part of the UAE's energy transition strategy. Strategic Misalignment: BP's focus on renewables clashed with ADNOC's current strategy of increasing oil & gas production. Political Concerns: Potential UK government intervention due to national security considerations played a role. BP's Vulnerability: The company's lagging stock performance and investor doubts about its energy transition plans made it a potential takeover target. ADNOC's Expansion Strategy: The pursuit of BP reflects ADNOC's international growth ambitions, particularly in gas and LNG markets. Undervalued European Oil Sector: This episode highlights the perception of undervalued assets in the European oil and gas sector. #MergersAndAcquisitions #EnergyMandAcquisitions #OilandGas #GlobalEnergyTransition #ADNOC #BP #Takeover #InternationalInvestment #EnergySecurity #RenewableEnergy #MiddleEastOil

Big profits surge for ADNOC L&S. ADNOC Logistics and Services (L&S)’ 2023 financial results, recently released, were exceptionally positive for the Abu Dhabi-based company. On a full-year basis, ADNOC L&S delivered a net profit of US $620 million (AED2,277 million), representing a 138% year-on-year increase over a net profit of US $261 million (AED959 million) in 2022. The company generated revenues of US $2,755 million (AED10,118 million) in 2023, marking a 41% increase over 2022. #ADNOCL&S #financialresults #growthstrategy #shipping #integratedlogistics #marineservices #profitability #revenues #shareholderreturns #VLCCs #JackUpBarges ADNOC Group https://bit.ly/49Brwvr

Congratulations to Saudi Aramco Base Oil Company-Luberef Oil Company – Luberef on winning the Capital Markets & ESG Finance AWARD for International Equity Capital Markets Deal of the Year.     Luberef’s IPO represented the largest Oil & Gas IPO globally in 2022 and the second largest in the EMEA region since 2010 after Saudi Aramco’s IPO. The IPO witnessed significant oversubscription levels at the upper end of the price range with a healthy mix of local, regional, and international investors.     Saudi Aramco Base Oil Company-Luberef    Citi, HSBC, Morgan Stanley, SNB Capital, Khoshaim & Associates, Cleary Gottlieb Steen & Hamilton LLP, Latham & Watkins    Aveen Prasad, Feruz Zokirov, Rabeeh Moudallal, Hassan Jivraj #BondsLoansAwards #BondsLoans #CapitalMarkets #ESGFinance #GFCMediaGroup 

Shell Pakistan Ltd (SPL) announced on Monday that it has received a public proposal from UK-based Prax Overseas Holdings Ltd expressing an intention to purchase the oil firm's 77.42 percent shares currently held by its foreign sponsor. The potential acquirer, an investment firm based in the UK, has its complete shareholding under the umbrella of fuel supplier State Oil Ltd. The energy conglomerate, which has investments in the up-, mid-, and downstream segments, operates under the brand name Harvest Energy in the downstream sector, the part of the local value chain where SPL is active. Earlier in June, SPL informed its investors that its foreign sponsor aimed to divest its complete 77.42 percent stake in the oil marketing company (OMC) as part of streamlining its global portfolio. As per takeover regulations, any share purchase agreement with a majority shareholder necessitates a subsequent public offer to ensure small investors can also participate in the deal. Consequently, the next phase of the acquisition will involve a public offer for 11.29 percent of the remaining shareholding in SPL currently held by minority investors. At the current market rate of Rs161.27 per share, the value of the foreign sponsor's entire shareholding in the OMC stands at approximately Rs26.7 billion. The sale of the sponsor's shareholding in SPL will encompass its downstream business along with a 26 percent stake in Pak-Arab Pipeline Company Ltd. In July, both Pakistan Refinery Ltd and Air Link Communication Ltd expressed their joint interest in acquiring a majority stake in SPL. Additionally, Bloomberg News recently reported that Saudi Aramco, the world's largest oil company, is exploring the possibility of making a bid for SPL. SPL recorded a net profit of Rs3.5 billion for the January-June period, witnessing a 52.8 percent decrease from the corresponding period last year. The company attributed the decline in its bottom line to "significant external disruptions, including an unprecedented devaluation of the rupee, escalating inflation, and prevailing macroeconomic uncertainty."

Saudi Aramco is contemplating a potential bid for Shell Plc's assets in Pakistan. This potential move would mark the Gulf oil giant's initial venture into the South Asian nation. Sources familiar with the matter, who preferred to remain anonymous, disclosed that Saudi Aramco is evaluating Shell's assets in Pakistan, including Shell Pakistan Ltd, which is listed in Karachi with a market value of $123 million. These insiders estimated the total value of the oil and gas company's assets in Pakistan at approximately $200 million if a deal were to materialize. Shell has an extensive presence in Pakistan, with over 600 fuel stations and a longstanding 75-year history of operations in the country. In addition to the fuel stations, the company is also involved in a lubricants business. However, the sources clarified that Aramco's interest does not guarantee an acquisition, as other potential buyers might also express interest. A representative from Shell acknowledged receiving significant interest from both local and international buyers but refrained from providing specific details. The representative emphasized that any potential sale would be contingent on a targeted sales process, the finalization of binding documentation, and the necessary regulatory approvals. Bloomberg attempted to seek comments from an Aramco spokesperson, but there was no response at the time of reporting. In June, Shell declared its decision to exit the Pakistani market, intending to divest its 77.4% stake in Shell Pakistan and its 26% ownership in Pak-Arab Pipeline Co, a state-supported cross-country pipeline system. This move aligns with Shell's strategy, led by CEO Wael Sawan, to bolster shareholder returns and streamline underperforming entities.

Saudi Arabia’s ADES Holding Company has attracted $76.5bn (SAR286.9bn) in orders for its $1.2bn initial public offering (IPO) on the Saudi Exchange, in what is set to be the country’s biggest listing of the year. ADES set the final offer price for the offering at SAR13.50 per share, implying a market capitalisation of SAR15.2bn at listing. According to oil and gas drilling and production services provider, the demand level represents a subscription coverage of 62.7 times, while the recorded orders from institutional investors stood at around SAR286.9bn.