United Energy Group
| Industry | Oil & gas |
|---|---|
Number of locations | China, Pakistan, Iraq, Egypt, Dubai |
| Website | uegl |
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.
Corporate affairs
UEG is a Hong Kong listed company but controlled by Zhang Hongwei, a majority shareholder in mainland China, who owns 71.7% of the company.[1][2]
China
The company undertook a joint venture with the China National Petroleum Company to develop the Liaohe EOR Project in Liaoning, China until it announced termination of the project in 2016.[3]
Pakistan
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 Pakistan assets for US$192 million.[4]
In FY2019, United Energy Pakistan was the largest foreign oil and gas exploration and production company in Pakistan, and remained 9th on the list with exports worth $227 million.[5]
External links
Pakistan portal
Energy portal
- UEP Website
References
- ^ "Zhang Hongwei profile". Telegraph. October 10, 2013.
- ^ "United Energy posts 18.9 per cent rise in interim profit as output offsets lower oil prices". South China Morning Post. August 7, 2015.
- ^ "United Energy scraps Liaohe EOR project". China Daily. February 26, 2016.
- ^ Baloch, Farooq (2018-03-01). "OMV Pakistan divests upstream business to United Energy for $192 million". Profit by Pakistan Today. Retrieved 2024-07-25.
- ^ Naqvi, Hassan (2020-02-22). "100 companies responsible for Pakistan's 40pc exports". Profit by Pakistan Today. Retrieved 2024-07-25.
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(Upstream/Downstream)
| Big 3 | |
|---|---|
| Major listed arms |
|
(Upstream)
- CITIC Resources
- Geo-Jade Petroleum
- Shaanxi Yanchang Petroleum
- Shandong Energy
- Emerald Energy
- United Energy Group
- Zhenhua Oil
| Upstream | |
|---|---|
| Coalbed methane | |
| Downstream |
| Rig operators |
|
|---|---|
| Drilling equipment |
- ChemChina
- Fushun Petrochemical Company (CNPC)
- Shanghai Petrochemical (Sinopec)
- Sinochem
- Economy of China
- Companies of China
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