In short: "No major news this month." (AIA Portfolio holding.)
In short: H1 2026 results, with 2026 orders set to exceed 2025 orders. "I continue to hold this in the portfolio. Everything is going the way I thought it would." Investment in maintaining and increasing oil and gas production will grow, and the company has divested shallow-water assets to focus on deep water, "which is the growth area for offshore production."
Saipem builds the underwater infrastructure that offshore oil and gas fields need — the engineering-and-construction contractor, not the oil owner. Its half-year results showed order intake for 2026 running above 2025, which is the number that matters for a contractor: today's orders are the next few years' revenue.
It has also sold its shallow-water business to concentrate on deep water, which is where offshore production is actually growing. "Everything is going the way I thought it would" — this is his preferred way to own energy: the service layer, paid off multi-year backlogs, rather than the oil price itself.
In short: Signed a binding SPA with ADES Saudi to divest its Saudi Arabia shallow-water drilling unit (three owned jack-ups plus two leased; FY2025 revenue ~US$170M) for US$285M in cash on a debt-free/cash-free basis at closing.
In short: No major news this month (AIA Portfolio holding).
Nothing matches this filter.
Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.