Thematic Investments: Global Energy
Stable Earnings and Cash Flows
- World leading Integrated Crude Oil & Natural Gas companies are the largest component within the energy sector. These large diversified multinational companies explore for oil and natural gas in the most remote and undeveloped regions of the globe. Combined with their refining and marketing operations, earnings and cash flow tend to be more stable than their independent E&P and R&M competitors. These companies deploy capital into projects that span 25 to 30 years, therefore capital allocation and returns are often the highest in the energy segment.