New Times Energy Corporation Limited (0166)

Overview

New Times Energy Corporation Limited is an investment holding company specializing in the exploration, development, and production of natural resources. Operating from its headquarters in Central, Hong Kong, the company has a diversified portfolio of activities spread across Hong Kong, Canada, Mainland China, and Argentina. Founded in 1998, New Times Energy Corporation Limited segments its operations into two primary areas: Upstream, which covers oil and gas exploration, development, and production; and General and Commodities Refinery and Trading, focusing on the refinery and trading of precious metals, petroleum-related products, and non-ferrous metals. As a subsidiary of Max Sun Enterprises Limited, the company also holds significant interests in concessions located in the province of Salta, Northern Argentina, expanding its exploration and production footprint to international territories.

Products and Services

• Oil and Gas Exploration, Development, and Production:

  New Times Energy Corporation is actively involved in the exploration, development, and production of oil and gas resources. This core operation allows the company to establish and grow its presence in the natural resources sector, contributing significantly to its revenue streams. The company focuses on identifying and utilizing oil and gas reserves efficiently to meet the growing global energy demand.

• Refinery and Trading of Precious Metals:

  Aside from its upstream oil and gas operations, the company engages in the refinery and trading of precious metals. This includes the processing and sale of various precious metals, catering to the needs of the commodities market. The diversification into precious metals allows New Times Energy to mitigate risks associated with the volatile oil and gas market.

• Petroleum-related Products Trading:

  New Times Energy Corporation extends its trading activities to petroleum-related products. This includes the sale and distribution of products derived from crude oil, leveraging the company's expertise and networks within the oil and gas industry. This segment complements the company's upstream activities by providing additional revenue opportunities through the trade of by-products resulting from oil and gas production processes.

• Non-ferrous Metals and Gold Trading:

  The company also involves in the trading of non-ferrous metals and gold, expanding its commodity trading business. This operation taps into the global demand for these materials, further diversifying its business operations and revenue sources. The trading of gold and non-ferrous metals underscores New Times Energy’s capacity to operate across different segments of the commodities market.

• Crude Oil Exploration and Production Interests:

  Significantly, New Times Energy Corporation Limited holds a 69.25% interest in the Tartagal Oriental and Morillo concessions, as well as a 50% interest in the Los Blancos Concession in the province of Salta, Northern Argentina. These interests underscore the company’s strategic investments in oil-rich territories, promising a potential increase in production capabilities and reserves.