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Today we'll look at United Energy Group Limited (HKG:467) and reflect on its potential as an investment. In...
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The United Energy Group (UEG) (SEHK: 467) is a Chinese oil & gas exploration and production company. The company pursues projects in Pakistan and Indonesia and is looking into further investment options in South East Asia and the Americas.
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UGL, formerly known as the United Group, is an engineering company.The company provides construction, maintenance, and asset management services to the rail, resources, and infrastructure sectors, and corporate real estate, facilities management, and business process outsourcing services to property users.
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In 2011, United Energy Group acquired the Pakistani assets of BP and BP Pakistan was renamed as UEP. [2] [3] A year later, in 2012, UEP secured a credit line of $5 billion from China Development Bank for its Pakistani operations and other potential acquisitions. In March 2018, UEP acquired OMV's gas fields in Pakistan for US$192 million. [4]