Latest news with #UAE-based
Mint
14 hours ago
- Business
- Mint
Four oil-related stocks to keep on your watchlist
Oil prices surged recently amid renewed geopolitical tensions between Israel and Iran, bringing the spotlight back on the energy sector. The global oil and gas industry is projected to exceed $9.8 trillion in value by 2029, driven by exploration, digital adoption, and cleaner tech. A few companies act as the backbone of the oil extraction process and stand to benefit from the sector's growth. They provide high-tech tools, drilling rigs, maintenance services, seismic surveys, and engineering expertise required to discover and produce oil and gas safely and efficiently. In short, while oil companies get the headlines, these companies do the heavy lifting, making energy extraction possible, efficient, and increasingly sustainable. This article explores four such oil equipment and services companies that hold a promising future, and have strong fundamentals and sound financials. Have a look: #1 Jindal Drilling & Industries Ltd (JDIL) Jindal Drilling & Industries Limited (JDIL) is part of the D.P. Jindal Group Drilling Division. It is a leading company among Indian private sector companies in offshore drilling, including directional drilling and mud logging, with operations since 1989. The company operates five oil rigs, all of which are deployed with ONGC. It's expecting full revenue contribution from its newly acquired rig Jindal Pioneer from Q1 FY26. Its clients include ONGC, GAIL, Oil India Ltd, Essar, Alliance, etc. The company's order book as on 31 March 2025 is ₹1,791 crore. Jindal Drilling & Industries' share price has increased 3.6% over the past one year, while in the last six months it has decreased 12.6%. The company's revenue has grown at a CAGR of 24.4% in the last five years, while its net profit has grown at a CAGR of 5%. The five-year average return on equity (RoE) is 3.7%, and return on capital employed (RoCE) is 5.9%. For FY25, the company reported revenue of ₹884 crore (up 37%), net profit of ₹141 crore (up 24%), with an Ebitda margin of 29%, and a net margin of 17%. #2 Asian Energy Services Ltd Asian Energy Services Ltd is an oilfield service and reservoir imaging company. It offers a suite of geophysical services specialising in land and well seismic services, and operation and maintenance services for oilfields. It's one of the few companies providing end-to-end services in the upstream oil segment. The 100% acquisition of Kuiper Group (UAE-based, owned by Gulf Capital PE) by the company is a milestone in its expansion across energy markets in the West Asia and Southeast Asia. The company's order book as on 31 March 2025 is ₹973 crore. Asian Energy Services' share price has increased 3.7% over the past one year, while in the last six months, it has decreased 19.1%. The company's FY26 revenue growth guidance is more than 40-50% YoY, and net profit guidance is 66-78% YoY, excluding the Kuiper Group. The company's revenue has grown at a CAGR of 24.4% in the last five years, while its net profit has grown at a CAGR of 5%. The five-year average return on equity (RoE) is 3.7%, and return on capital employed (RoCE) is 5.9%. For FY25, the company reported revenue of ₹465 crore (up 52%), PAT of ₹42 crore (up by 65%), with an Ebitda margin of 15.5%, and a PAT margin of 9.1%. #3 PTC Industries Ltd PTC Industries manufactures metal components for critical and supercritical applications for industries like defence, oil & gas, liquefied natural gas (LNG), ships & marine etc. It manufactures stainless steel, duplex, super duplex, nickel, cobalt alloys, non-alloy steel castings solutions, machined components, and fabricated parts catering to the oil & gas industry. The company's PowderForge technology complements the traditional casting by offering bi-metal solutions for extreme working environments. The company also supplies cryogenic valve components to leading LNG/LPG valve manufacturers. PTC Industries' share price has increased 6.2% over the past one year, while in the last six months it has increased 17%. The company's revenue has grown at a CAGR of 11.2% in the last five years, while its net profit has grown at a CAGR of 31.1%. The five-year average return on equity (RoE) is 6.7%, and return on capital employed (RoCE) is 11.4%. For FY25, the company reported total income of ₹342 crore (up 26.6%), PAT of ₹61 crore (up 44.5%), with an Ebitda margin of 32%, and a PAT margin of 17.8%. #4 Jindal Saw Ltd (JSAW) Jindal Saw is the market leader, capacity-wise, in the manufacturing of large diameter submerged arc welded (SAW) pipes. The company is a global leader in the coated and bare pipe industry, and the world's third-largest producer of rust-free iron pipes. The SAW pipes (line pipes) division of the company is mainly used in the transportation of oil, gas, slurry, and water. In addition, Jindal SAW provides relevant, value-added services by way of anti-corrosion coatings, connector casings, hot pulled induction bends, etc, thus becoming a 'Total Pipe Solutions' company. The company's exposure to the oil and gas sector accounts for approximately one-fourth of its total revenue. JSAW has government and private sector clients anda strong domestic and international presence. As of FY25, the company has a standalone order book of $1.328 billion for iron & steel pipes and pellets. Jindal Saw's share price has reduced 15.3% over the past one year, and in the last six months it has reduced by 20.9%. Coming to the financials, the company's revenue has grown at a CAGR of 12.4% in the last five years, while its net profit has grown at a CAGR of 25.9%. The five-year average return on equity (RoE) is 8.8%, and return on capital employed (RoCE) is 16.7%. For FY25, the company reported total income of ₹20,948 crore (down 1%), PAT of ₹1,458 crore (down 8%), with an Ebitda margin of 16.9%, and a PAT margin of 6.9%. Conclusion In this article, we explored some of the oil field equipment and services providing companies, their role in the oil sector, and their financial performance. But there are many more companies in this space yet to be discovered. It's crucial to find quality companies with sustainable earnings, consistent growth, and sound financials. Keeping an eye on these companies could offer an investment opportunity and portfolio diversification to investors. Investors should evaluate the company's fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making an investment decision. Happy Investing. Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. This article is syndicated from
Mid East Info
14 hours ago
- Business
- Mid East Info
The Climate Tribe Launches Abu Dhabi's First Sustainable Collaboration Hub, Debuting with ‘The Climate Tribe Live!' Event
As part of The Climate Tribe Hub's debut, climate leaders, collaborators, and partners were invited to join 'The Climate Tribe Live' on June 23rd, an interactive talk-show style gathering spotlighting the group's vision and the creatives behind it Abu Dhabi, UAEJune 2025: Established by Her Highness Sheikha Shamma bint Sultan bin Khalifa Al Nahyan in 2023, The Climate Tribe is a UAE-based social enterprise dedicated to inspiring collective climate action. Serving as a platform for sharing creative ideas and mobilising the local community through workshops and activations around the UAE, The Climate Tribe has now opened the doors to its own collaborative hub in Abu Dhabi. It not only operates as a community-led mission; The Climate Tribe also functions as a fully-operating business that supports brands, organisations, and institutions in communicating their sustainability efforts through an impact production studio, white-labeled storytelling, and bespoke community engagement initiatives. Marking The Climate Tribe Hub's first event, The Climate Tribe Live!' started the conversation on June 23rd with an intimate gathering to showcase the organisation's impact and set the tone for what's to come. The inaugural event, set within the entirely sustainably designed hub, showcased the power of creativity, collaboration, and community as catalysts for transformation. Guests had the chance to learn more about The Climate Tribe's journey so far and the group's impact through a captivating short film. After, Her Highness Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President & CEO of The Climate Tribe, shared her inspiration for the organisation, perspectives on the current state of global climate action, and her aspirations for a more sustainable future in the UAE and beyond. 'The Climate Tribe began with a vision to inspire climate action through storytelling, creativity, and shared purpose,' said Her Highness Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President & CEO of The Climate Tribe. 'With 2025 being the Year of Community in the UAE, we are proud to align with our national vision as we now mark this new chapter in our journey.' 'Building on the impact we have created through dynamic storytelling, community engagement and bold partnerships over the last two years, the opening of our Hub paves the way for deeper conversations and tangible solutions in our collective mission towards climate action. I look forward to seeing the ideas and collaborations that will flourish within this space to shape a more sustainable future,' Her Highness continued. 'The Climate Tribe Live!' also took attendees through the journey of transforming an online movement into a physical home by highlighting The Climate Tribe Hub's innovative and community-centered sustainable design. Developed hand in hand with local artisans, makers, and designers, the Hub is a celebration of collaboration, creativity, and Emirati heritage. Contributors included Alchemy, Alghadeer Emirati Crafts, Date Form by ARDH Collective, Byblos, Datecrete, Desert Board, PlyPalm, Tashkeel and Tibrah who all played a vital role in shaping the space through thoughtful design choices and low-impact, locally sourced materials. Built not just as a co-working venue, but more importantly as a co-creation space, the Hub brings together creativity and cause under one roof, offering a place for the community to connect, ideate, and drive climate action. Following a mini-documentary on the Hub's development, members of The Climate Tribe's leadership team – including Executive Director, Hind Al Ghseen; Editor-in-Chief, Manal Shaikh; and Director of Community Impact, Aysha Hareb Al Dhaheri – shared their reflections on the design process and how it aligns with the group's mission. Spotlighting the community behind The Climate Tribe, the session concluded with a panel discussion from workshop participants, filmmakers, editors, and project partners who shared what being part of the movement has meant to them. In a relaxed yet engaging discussion, they highlighted the real people and stories behind every project and the ripple effect on the environment, reinforcing The Climate Tribe Hub as a space for collaboration and driving positive change. Reflecting on the launch of The Climate Tribe Hub and the success of its inaugural gathering, Hind Al Ghseen, Executive Director at The Climate Tribe, stated, 'The Climate Tribe Hub is a true reflection of our values – built in collaboration with local artisans, designers, and sustainability experts who brought the space to life using thoughtful, low-impact practices. From the materials chosen to the storytelling woven into every corner, the Hub celebrates Emirati heritage and community craftsmanship. It stands as a symbol of what can be achieved when creativity, culture, and purpose come together.' Since its founding in 2023, The Climate Tribe has united over 2,200 community members through meaningful, hands-on action. Beyond its digital platform of creative climate resources, the group has facilitated over 70 community initiatives, contributing to the planting of 921 trees and the collecting and recycling of 8,656 kilograms of waste. The launch of The Climate Tribe Hub marks an exciting new chapter for the movement, transforming its digital roots into a physical space for collaboration, creativity, and action. As a home for storytellers, changemakers, and community members alike, the hub will serve as a launchpad for deeper engagement and sustainable solutions. With its inaugural event setting the tone, The Climate Tribe is poised to grow its impact even further, continuing to inspire local action and shape a more sustainable future for the UAE.
Time of India
21 hours ago
- Business
- Time of India
No more free remittances for NBD customers starting September: What expats need to know
Emirates NBD's DirectRemit service allows customers to send quick, digital international money transfers to supported countries, previously free of charge but now subject to a fixed Dh26.25 fee/ Image:X Emirates NBD, one of the largest banking groups in the UAE, has officially announced that it will begin charging customers a fixed fee of Dh26.25 (₹598.50) ($7.15) (inclusive of VAT) for international money transfers made through its DirectRemit service. This change will take effect from Monday, September 1, 2025, and marks a significant shift in the bank's longstanding policy of offering free remittances to selected countries. The update was shared in an email sent to customers, in which the bank stated: 'Effective Monday, September 1, 2025, charge of Dh26.25 will be applicable for International Transfers (Including DirectRemit) remittance service initiated from ENBD X or Online Banking. The fee is inclusive of VAT.' What's Changing? Previously, Emirates NBD customers enjoyed instant and fee-free money transfers to banks in countries considered part of the bank's "popular remittance corridor." These included India, the Philippines, Egypt, Sri Lanka, and the United Kingdom, with a minimum transfer amount of Dh100. Starting in September, the Dh26.25 charge will apply uniformly across all international transfers initiated via: The ENBD X mobile app The bank's online banking platform This effectively ends the free transfer benefit previously associated with DirectRemit, the bank's digital remittance tool that allowed cross-border transactions to be completed in less than 60 seconds. Additionally, the bank has introduced a cancellation fee of up to Dh26.25 for recall or cancellation of any local or international transfers, bringing another layer of change to its remittance services. This applies whether the transaction is completed or pending. How Does It Compare to Other UAE Banks? International wire transfer fees across UAE banks generally range from Dh20 to Dh60, depending on the channel and destination. With this fee update, Emirates NBD is aligning DirectRemit with the industry standard applied to most other international transfers offered by UAE-based banks. No other changes have been announced to the exchange rate margins or processing times associated with DirectRemit. The core functionality of the service, quick, digital cross-border money transfers—remains unchanged aside from the new fee. Advice to Customers Customers are encouraged to: Review their recent transfer history to assess how the new fee structure will impact their remittance habits Compare rates and fees with other available remittance services in the market Stay informed through official bank channels for any future changes or updates This adjustment signals Emirates NBD's broader move to standardize its digital banking offerings, bringing them in line with conventional cross-border transfer practices within the UAE banking sector.
Observer
a day ago
- Business
- Observer
Oman's first green ammonia project begins receiving key cargo
MUSCAT, JUNE 27 Project cargo has begun arriving at the Special Economic Zone at Duqm (SEZAD) for Oman's first green hydrogen and ammonia venture — a landmark initiative set to kickstart the Sultanate of Oman's gigawatt-scale green energy industry. Green Hydrogen and Chemicals Company SAOC (GHC), a wholly owned subsidiary of India-based renewable energy developer ACME Group, is developing the green ammonia plant with an initial capacity of 100,000 tonnes per annum (tpa). The project, estimated at around $750 million, is designed for phased expansion to 1.1 million tpa. Last week, Khimji Ramdas Shipping announced the successful discharge and inland delivery of the first major consignment of project cargo from the Port of Duqm to the plant site. The shipment comprised 14 packages of oversized equipment, including a single unit weighing 120 metric tonnes. This shipment marks the first in a series of heavy cargo deliveries expected at Port of Duqm in the run-up to the plant's scheduled commissioning in Q1 2027. Forthcoming consignments will include solar PV modules, trackers and electrolysers — key components already under contract as part of the project's broader supply chain. Earlier this month, GameChange Solar, a global leader in solar tracking systems, announced a deal to supply its Genius Tracker technology for a 450 MWp solar installation that will generate renewable electricity for the project. The 1P single-row tracker system is engineered to withstand high winds and extreme weather conditions, making it suitable for Al Duqm's coastal environment. Leading Chinese manufacturer Sungrow Hydrogen revealed it had been contracted to supply multiple sets of 1000 Nm³/h alkaline electrolysis systems, along with flexible green hydrogen production solutions. Deliveries are expected to be completed by end-2025. Fellow Chinese company Shuangliang Hydrogen has also secured a contract to supply hydrogen production equipment for the same project, with delivery similarly due by year-end. In parallel, UAE-based DarkOcen Geostar recently completed the fieldwork phase of an offshore geotechnical investigation at SEZAD. The campaign included borehole drilling, Cone Penetration Testing (CPT) and evaluations of pipeline corridors and marine anchor points to support the development of future marine infrastructure for the ammonia plant. The Duqm green ammonia project is one of nine large-scale green hydrogen initiatives planned for development across Oman's Al Wusta and Dhofar governorates over the next decade. These projects collectively represent investments exceeding $40 billion. The timely delivery and execution of the Duqm plant is seen as pivotal to unlocking Oman's broader hydrogen strategy. As part of a long-term offtake agreement signed last year, Norwegian fertiliser giant Yara will lift the full annual output from the first phase — 100,000 tonnes of green ammonia — reinforcing the project's strong commercial foundation.
Web Release
a day ago
- Business
- Web Release
The Climate Tribe Launches Abu Dhabi's First Sustainable Collaboration Hub, Debuting with ‘The Climate Tribe Live!' Event
Established by Her Highness Sheikha Shamma bint Sultan bin Khalifa Al Nahyan in 2023, The Climate Tribe is a UAE-based social enterprise dedicated to inspiring collective climate action. Serving as a platform for sharing creative ideas and mobilising the local community through workshops and activations around the UAE, The Climate Tribe has now opened the doors to its own collaborative hub in Abu Dhabi. It not only operates as a community-led mission; The Climate Tribe also functions as a fully-operating business that supports brands, organisations, and institutions in communicating their sustainability efforts through an impact production studio, white-labeled storytelling, and bespoke community engagement initiatives. Marking The Climate Tribe Hub's first event, The Climate Tribe Live!' started the conversation on June 23rd with an intimate gathering to showcase the organisation's impact and set the tone for what's to come. The inaugural event, set within the entirely sustainably designed hub, showcased the power of creativity, collaboration, and community as catalysts for transformation. Guests had the chance to learn more about The Climate Tribe's journey so far and the group's impact through a captivating short film. After, Her Highness Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President & CEO of The Climate Tribe, shared her inspiration for the organisation, perspectives on the current state of global climate action, and her aspirations for a more sustainable future in the UAE and beyond. 'The Climate Tribe began with a vision to inspire climate action through storytelling, creativity, and shared purpose,' said Her Highness Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President & CEO of The Climate Tribe. 'With 2025 being the Year of Community in the UAE, we are proud to align with our national vision as we now mark this new chapter in our journey.' 'Building on the impact we have created through dynamic storytelling, community engagement and bold partnerships over the last two years, the opening of our Hub paves the way for deeper conversations and tangible solutions in our collective mission towards climate action. I look forward to seeing the ideas and collaborations that will flourish within this space to shape a more sustainable future,' Her Highness continued. 'The Climate Tribe Live!' also took attendees through the journey of transforming an online movement into a physical home by highlighting The Climate Tribe Hub's innovative and community-centered sustainable design. Developed hand in hand with local artisans, makers, and designers, the Hub is a celebration of collaboration, creativity, and Emirati heritage. Contributors included Alchemy, Alghadeer Emirati Crafts, Date Form by ARDH Collective, Byblos, Datecrete, Desert Board, PlyPalm, Tashkeel and Tibrah who all played a vital role in shaping the space through thoughtful design choices and low-impact, locally sourced materials. Built not just as a co-working venue, but more importantly as a co-creation space, the Hub brings together creativity and cause under one roof, offering a place for the community to connect, ideate, and drive climate action. Following a mini-documentary on the Hub's development, members of The Climate Tribe's leadership team – including Executive Director, Hind Al Ghseen; Editor-in-Chief, Manal Shaikh; and Director of Community Impact, Aysha Hareb Al Dhaheri – shared their reflections on the design process and how it aligns with the group's mission. Spotlighting the community behind The Climate Tribe, the session concluded with a panel discussion from workshop participants, filmmakers, editors, and project partners who shared what being part of the movement has meant to them. In a relaxed yet engaging discussion, they highlighted the real people and stories behind every project and the ripple effect on the environment, reinforcing The Climate Tribe Hub as a space for collaboration and driving positive change. Reflecting on the launch of The Climate Tribe Hub and the success of its inaugural gathering, Hind Al Ghseen, Executive Director at The Climate Tribe, stated, 'The Climate Tribe Hub is a true reflection of our values – built in collaboration with local artisans, designers, and sustainability experts who brought the space to life using thoughtful, low-impact practices. From the materials chosen to the storytelling woven into every corner, the Hub celebrates Emirati heritage and community craftsmanship. It stands as a symbol of what can be achieved when creativity, culture, and purpose come together.' Since its founding in 2023, The Climate Tribe has united over 2,200 community members through meaningful, hands-on action. Beyond its digital platform of creative climate resources, the group has facilitated over 70 community initiatives, contributing to the planting of 921 trees and the collecting and recycling of 8,656 kilograms of waste. The launch of The Climate Tribe Hub marks an exciting new chapter for the movement, transforming its digital roots into a physical space for collaboration, creativity, and action. As a home for storytellers, changemakers, and community members alike, the hub will serve as a launchpad for deeper engagement and sustainable solutions. With its inaugural event setting the tone, The Climate Tribe is poised to grow its impact even further, continuing to inspire local action and shape a more sustainable future for the UAE.
