QatarEnergy’s Post

QatarEnergy issues advance notice of second free MPHC incentive shares allocation QatarEnergy, the primary founder and main shareholder of Mesaieed Petrochemical Holding Company ("MPHC" or "the Company"; QE: MPHC), wishes to inform eligible MPHC shareholders at closing of Qatar Stock Exchange on 31st December 2023, and as outlined in the Initial Public Offering (IPO) Prospectus, they will receive a second and last free incentive shares distribution. This distribution will be equivalent to 50% of the shares initially allocated to shareholders during the IPO of MPHC. Commenting on the incentive shares award, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “The incentive program of free shares allocated for eligible Qatari IPO shareholders is another testimony of the State of Qatar’s policies under the directives of His Highness the Amir, Sheikh Tamim Bin Hamad Al-Thani, aimed at encouraging long-term investment among Qataris.” H.E. Minister Al-Kaabi added: "QatarEnergy will implement its commitment to grant the incentive shares to every subscribed Qatari national as per the conditions specified in the prospectus on the specified award date. Once the second free incentive shares are received, the shares will be eligible to receive any potential dividends associated with them for the financial year 2023." The free incentive shares are ordinary shares with equal rights to capital shares. This distribution will not add to, or alter, the share capital of the Company, as the distribution will be from QatarEnergy's shareholding in MPHC. #QatarEnergy #YourEnergyTransitionPartner #Qatar

“Algeria’s Gas Deliveries to Naturgy at Risk if Shares Sold to Another Company” 🌍🔥 In a recent development, Algeria may halt gas deliveries to Naturgy if the Spanish company’s shares are acquired by another entity, as revealed by a knowledgeable source to Reuters. The potential sale of Naturgy shares has stirred discussions, with Abu Dhabi’s TAQA reportedly considering a full takeover bid for the prominent Spanish natural gas firm. Naturgy, a key player in the gas sector, holds strategic interests in a crucial gas pipeline linking Spain and Algeria, along with significant contracts with Algeria’s Sonatrach for gas supply to Spain. Additionally, Naturgy has a substantial long-term agreement for the annual import of 3 billion cubic meters of Russian liquefied natural gas. Despite the ongoing speculations, a Naturgy spokesperson emphasized the company’s existing supply contracts with Algeria until 2032, indicating no involvement in shareholding negotiations. The situation remains fluid, with TAQA engaging in talks with major Naturgy shareholders and exploring potential partnership agreements. This development holds implications for Spain’s gas supply dynamics, with Algeria serving as a significant gas source for the country, accounting for a substantial portion of total gas imports, primarily through pipelines. The evolving scenario underscores the intricate interplay between energy markets and corporate strategies in the global gas sector. 🌐🛢️ #EnergyMarketDynamics #GasSupplyChallenges #CorporateStrategies

𝘼𝘿𝙉𝙊𝘾'𝙨 𝘾𝙤𝙣𝙨𝙞𝙙𝙚𝙧𝙖𝙩𝙞𝙤𝙣 𝙤𝙛 𝘽𝙋 𝙏𝙖𝙠𝙚𝙤𝙫𝙚𝙧 𝙍𝙚𝙛𝙡𝙚𝙘𝙩𝙨 𝙎𝙩𝙧𝙖𝙩𝙚𝙜𝙞𝙘 𝙀𝙭𝙥𝙖𝙣𝙨𝙞𝙤𝙣 𝙂𝙤𝙖𝙡𝙨 Recently, Abu Dhabi National Oil Company (ADNOC) evaluated the acquisition of British oil giant bp, though the discussions remained in early stages and did not lead to a deal. ADNOC decided that BP's operational focus and strategic direction were not aligned with its own, despite BP's appeal as a takeover target due to its undervaluation relative to its peers. This interest in BP forms part of ADNOC's broader strategy to strengthen its global presence and diversify into new markets such as renewables, LNG, and petrochemicals. ADNOC's exploration of potential acquisitions, including a significant interest in BP, underscores its ambition to transition into a more globally integrated energy company. This initiative aligns with the UAE's broader energy transition strategy and highlights the dynamics of global oil market consolidation. https://lnkd.in/gSrPtX_n

News for ADNOC Distribution shareholders! They have just approved a generous interim dividend for HI 2024, amounting to AED 1.285 Billion! Eng. Bader Al Lamki talks about ADNOC Distribution's performance. Read more here - https://lnkd.in/gfVr5PpK

Once again ADNOC L&S proudly reports strong financial performance across all of our business segments for the second quarter and first half of 2024. During H1, we recorded revenues of $1.74 billion (AED6,390 million) ETC delivering a net profit of $401 million (AED1,473 million), equating to $0.05 (AED0.20) per share, an increase of 31% on net profit from H1 2023.  in the same period, up 42% on H12023. EBITDA rose by 42% to $591 million (AED2,170 million). The Company’s second quarter revenue increased by 42% year-on-year (y-o-y) to $899 million (AED3,302 million) with EBITDA growing 40% y-o-y to $306 million (AED1,124 million). Net profit for the second quarter grew 28% y-o-y to $208 million (AED 764 million). These strong results have been driven by the continuing execution of ADNOC L&S’s transformational growth strategy, leveraging our strong free cash flows after dividends and low gearing to generate major P&L growth by investing over $5bn in value-accretive growth opportunities in energy-related maritime logistics by the end of 2028, most of that against long-term contract. We have now committed over 50% of this amount since our record-breaking IPO, including recently-announced investments in Navig8 (subject approvals), LNG carriers, VLECs and VLACs. We're growing rapidly, profitably and securely.

Energy giant bp has reported its second highest annual profit in a decade, despite it being half the level it announced in the previous year. Profits were $13.8bn (£11bn) in 2023, down from the record $27.7bn in 2022 when oil prices soared in the aftermath of Russia's invasion of Ukraine. The price of oil fell back last year, which has cut profits at all energy firms. However, BP said it was stepping up its plans to return cash to shareholders. The results are the first released by BP since the company announced Murray Auchincloss as its new chief executive. The fall in BP's annual profits echo the results from rival Shell, who last week said profits fell to $28.2bn last year, down from $39.9bn in 2022. However, excluding 2022's results, BP's annual profit figure was the biggest since 2012. In the final three months of 2023, BP reported profits of $3bn, which was higher than expected, and its shares were up more than 5% by Tuesday afternoon. The company also said it planned to increase returns to investors during the first three months of the year through $1.75bn of share buybacks. It has also committed to $3.5bn of buybacks over the first half of 2024. Read more ➡️ https://buff.ly/42wRmOr The Scottish Chambers of Commerce Network is here to support your business - reach out to share your views, concerns and opportunities. #SCCnews #businesssupport #businessnetwork #businessvoice #businessleader Sign up for the Scottish Chambers of Commerce enewsletter at https://buff.ly/3CpsQnu

ADNOC Redeems $1.2B Exchangeable Bonds 💸 The Abu Dhabi National Oil Company (ADNOC) has fully redeemed its USD-denominated senior unsecured exchangeable bonds, initially issued by ADNOC Distribution. 👉 The total payout to bondholders was $1.199 billion in cash, ensuring ADNOC retains complete ownership of the underlying ADNOC Distribution shares. 👉 These bonds, issued in May 2021 alongside 375 million ADNOC Distribution shares, saw their share conversion option expire on May 4, 2024. ADNOC chose a cash settlement, repaying the $1.195 billion principal and a $4.18 million coupon payment. 👉 With this settlement, ADNOC Distribution’s free float stays at 23%, and ADNOC maintains a 77% majority stake. ADNOC reaffirmed its commitment to ADNOC Distribution, confident in its growth strategy. Additionally, ADNOC Logistics and Services (ADNOC L&S) will acquire 80% of Navig8 TopCo Holdings for AED 3.8 billion ($1.04 billion). The remaining 20% will be acquired in 2027 for AED 1.2 billion to AED 1.7 billion.

Oman’s energy giant OQ to launch groundbreaking IPO, offering 25% stake in oil & gas exploration Arm The company plans to raise around USD 2 billion (based on Bloomberg report) by floating up to 25% of its shares, offering investors a pure play in the Sultanate’s dynamic oil and gas sector. IPO Offer Details: Company: OQ Exploration and Production (OQEP) Offer Percentage: 25% of total shares Investor Allocation: 60% institutional, 40% retail Subscription Period: September 2024, post CMA approval Estimated Listing Date: October 2024 In 2023, OQEP’s output represented a remarkable 14% of Oman’s total oil and gas production. The company also boasts strategic partnerships with industry giants like Shell, BP, and TotalEnergies. OQEP has outlined an attractive dividend policy: The company plans to issue quarterly dividends, with the initial payment of OMR 57.7 million (USD 150 million) expected in December 2024 for the 3Q24, followed by another distribution in March 2025 for the 4Q24, amounting to an annualized total of OMR 230.7 million (USD 600 million). Additionally, a pre-IPO dividend of OMR 115.5 million (USD 300 million) will be distributed for the 1H24. Over the next two years, the company will adopt a performance-based dividend policy. This will comprise a base amount of OMR 230.7 million plus 90% of free cash flow and net proceeds from asset sales, minus the base dividend. The first performance-linked dividends are scheduled for distribution around September and December 2025 In 2023, OQ divested a 49% stake in OQ Gas Networks (OQGN), attracting an overwhelming demand of OMR 4 billion against an offer size of OMR 288 million, indicating an impressive 14-fold oversubscription. Stay tuned for more updates on this landmark IPO! #UnitedSecurities #OQEPIPO #OmanEnergy #OQIPO #OilAndGasInvestment #OmanIPO #EnergySector #GCCMarkets #OQEPListing #OmanEconomy #IPOAlert #OilAndGas #MiddleEastInvestments #EnergyStocks #DividendStocks #InvestInOman

Allan Gray portfolio manager Simon Mawhinney regarded both Santos Ltd and Woodside Energy as “reasonably cheap” and urged them to consider buying back their shares. “Both companies have meaningfully underperformed their overseas peers, and meaningfully underperformed the biggest underlying driver of their earnings which is oil prices, and both companies have been making very good free cash flow,” he said. “These companies – Santos and Woodside – should just buy back their shares. That is what we would like to see.” #ICYMI Read our research into the growth portfolios of Santos & Woodside that found a capital return strategy offers shareholders more value and less risk. https://lnkd.in/gaap2-UE https://lnkd.in/g62EU8Ny

Oil giant Shell beats expectations for full-year profit https://lnkd.in/dvzxfmY2 #shell #bigoil #majoroilcompanies #earningsreports #yearlyearnings #profits #oildividends #sharebuybacks #energyprices #crudeoilprice #naturalgas #liquifiednaturalgas #lng #oilindustry #oilandgasindustry #upstream #refining #transportationfuels #energyindustry