Asian, Regional Company Performance on the Rise; Resurgence Noted Among
Non-Oil Companies, Especially Electricity
SINGAPORE, Oct. 20 /CNW/ -- Major oil companies have maintained their
stronghold as the world's most financially effective energy businesses,
according to the 2008 Platts Top 250 Global Energy Company rankings announced
here Monday evening. But the rankings also point to a performance resurgence
by non-oil firms, such as electric utilities, and to the rising importance and
influence of Asia-Pacific companies.
Against a backdrop of climbing global demand, record-high prices and
market volatility, it was Exxon Mobil Corp. that once again surpassed its
competitors to take the number one spot in the Platts Top 250 for the fourth
consecutive year. In second and third place were Royal Dutch Shell plc and
France's Total SA, respectively.
While US companies still make up the largest overall bloc in the Platts
rankings, America's share of the top spots is down 30% since the rankings
began seven years ago. Behind Exxon Mobil, this year's US top finishers were
Chevron Corp., Valero Energy Corp. and ConocoPhillips. Participation in the
lead 100 slots by Europe, Middle East, and Africa (EMEA) has risen by 38%
since 2001. The best 2008 EMEA performers were Shell, Total, BP, Russia's
Rosneft and Italy's ENI. Asia's share of the Top 250's upper tier has climbed
nearly 30% across the ranking's history. This year's top performing Asian
energy business was PetroChina Co., Ltd., which placed ninth worldwide, and
ahead of many long-entrenched names on the roster. Second, third, fourth and
fifth-place finishers in Asia were China Petroleum & Chemical Company (known
as Sinopec), Reliance Industries Ltd., Oil & Natural Gas Corp. Ltd., and PTT
"The globalization of the energy marketplace is increasingly reflected in
the results of the Platts rankings," said Platts President Victoria Chu Pao.
"We're pleased to recognize the leadership achievements of so many regional
energy companies that continue to climb the ranks of the global Top 250."
In addition to unveiling the Top 250 Global Energy Companies, which
scores the world's best performing energy companies on a combination of
assets, revenues, profits and return on invested capital, Platts on Monday
celebrated the accomplishments of the Top 15 Asian Energy Companies, the Top
10 Fastest- Growing Asian Energy Companies, and the Top Asian Energy Companies
in each of eight industry segments. To be ranked, companies must have assets
greater than (US) $2 billion and must be publicly listed. The performance
rankings were unveiled at the 3rd annual Asia Leadership Awards recognition
dinner at the St. Regis Hotel in Singapore, attended by some 200 energy
executives, largely from the Asia-Pacific region.
A year-on-year comparison of the Top 250 shows that all of the companies
gaining ground within the lead 20 positions are non-U.S. companies. In fact,
three of the largest energy companies in the world are now Russian: Rosneft
Oil Company ranks sixth and Gazprom OAO jumped seven places to 10th,
overtaking fellow Russian Federation company Lukoil, now in 11th place. And
within the top 50, Russia holds seven slots and the Asia-Pacific region
holds eight, three of which are Indian companies.
In terms of industry sector performance, the 2008 Platts ranking showed
that integrated oil companies maintained their strong presence in the list's
upper tier, as they have for years. But it also revealed a resurgence of non-
oil companies within the 50-100 ranks. Platts believes that three factors
contributed: a wave of mergers and takeovers; improved hedging strategies by
power and gas companies and normalization after price hits in 2004-2006; and
accelerated trends of deregulation, public listing and/or financial reporting
among eastern European, Middle Eastern, Asian and Latin American energy
Abu Dhabi National Energy Company and Saudi Electricity Company are the
first from the Persian Gulf region to place in the Top 250 rankings,
illustrating a trend toward greater financial data transparency and
disclosure. In addition to this latter placement, it's notable that electric
utilities, at large, are now ahead of where they were in 2005 in comparison
with oil majors' profits.
Now in its second year, the Platts roster of the world's Fastest-Growing
Energy Companies by revenue showed 11 of the 14 rapid-growth firms of 2007
returned to the list in 2008. Notable regional movements included the first-
time presence of a Middle East firm in the lead 20 slots. Japan's sole
representation within the roster, Inpex Holdings Inc. jumped from spot 17 in
2007 to sixth place in 2008.
Offering the evening's keynote address was Singapore's Senior Minister of
State for Trade and Industry S. Iswaran, who highlighted not only Asia's
increased representation within the Platts Fastest Growing and Top 250 lists,
but also the expanding role that Asia and the Pacific Rim are assuming in the
global energy sustainability dialogue. Prior to the Asia Leadership Awards
recognition dinner, energy company representatives discussed energy outlook
and key industry issues at the 6th annual Platts Top 250 Executive Summit.
The evening's key sponsor for the third consecutive year was Logical
Information Machines, a provider of data, analytics and research to the energy
and financial sectors and whose customers are among the world's largest hedge
funds, mutual funds, banks and energy concerns.
For the complete Platts Top 250 Global Energy Companies list and
additional information, visit: http://www.platts.com/top250/.
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