Integrated oil and gas (IOG) companies continue to dominate the 10 top spots in the 2010 Platts Top 250 Global Energy Company Rankings, despite an unprecedented drop in natural gas demand and slump in oil prices that resulted in a more than one-third decline in 2009 profits.
Houston-based ExxonMobil Corporation reigned supreme at the top of the rankings for the sixth consecutive year, and despite being fifth in terms of asset value, came in second in terms of both revenues and profits. UK major BP came in second improving its position from fourth in the prior year's rankings due to a strong performance in 2009 relative to its peers and ahead of any impact from its disastrous oil spill in the U.S. Gulf of Mexico in April 2010. BP's revenues in 2009 dropped by a third but its profits fell by only a little more than one-fifth.
The 2010 Platts Top 250 Global Energy Company Rankings, unveiled at a gala event Nov. 2 in Singapore, highlighted the continued leadership of the major oil and gas companies, the rapid advance of the BRICs (Brazil, Russia, India, China) and the resurgence of the global power sector.
BRICs Surge Ahead
BRICs surged ahead with 11 companies in the global rankings' top 20 compared to just six the year before. Moreover, while BRICs still account for four of the top 10 companies, all are rising in the ranks. Russia's Gazprom Oao, jumped to third place from eighth last year and was also ranked as the world's most profitable listed energy company. Brazil's Petrobras claimed fourth place from sixth in the previous year's global ranking. PetroChina rose to seventh from ninth place, and China Petroleum & Chemical Corporation jumped to No. 8 from 23rd place.
Brazil's Ultrapar Participacoes SA, a storage and transfer company that ranked 148 overall, jumped three places to take the lead with a three-year CGR of 96%. Russia had two newcomers in the top ten fastest growing – RusHydro JSC which took second place with a three-year CGR of 77.8% and Moscow United Electric Power which came in sixth with 50% CGR.
Moving up to third from fifth place last year was independent power producer China Resources Power Holdings with a three-year CGR of 50.5% and joining the ranks of the fastest growing as well as the Top 250 list itself was Tata Power Company, India's largest integrated private power company, whose 39.7% three-year CGR put it 10th place.
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