For the first time in the 10-year history of the Platts Top 250 Global Energy Company Rankings, an Asian company has attained one of the top five spots on the prestigious financial performance-based list. Petrochina Company Limited, China's leading oil and gas company, moved into fourth place in 2011 from seventh place last year and 12th place in 2002, its ascent fueled by assets that quintupled over the decade from $52 billion to $255 billion.
Based on asset worth, revenues, profits and return on invested capital (ROIC) for fiscal 2010, the Platts 2011 Top 250 rankings showed that the world's leading publicly held energy companies represent a growing array of emerging markets companies in diverse aspects of energy. The rankings, announced tonight at gala dinner in Singapore by Platts, a leading commodities information provider, now include 53 companies from the BRIC countries (Brazil, Russia, India and China, excluding Hong Kong and Taiwan). This compares to 28 BRIC companies in Platts' inaugural rankings 10 years ago.
"Ten years ago, only one BRIC company, Russia's Gazprom, made it into the top 10. This year, three Russian and two Chinese companies are counted among the world's top 10 energy leaders," said Platts President Larry Neal. "Half of the 50 fastest growing companies in this year's rankings represent BRIC companies, with Chinese companies making up the largest share."
World's Major Oil & Gas Companies Continue to Dominate the Top 10
In this year's rankings, integrated oil and gas companies took all top 10 spots. U.S. giant ExxonMobil Corporation retained the top spot for the seventh consecutive year, while Chevron Corporation moved up to second place from ninth as it boosted its return on invested capital (ROIC) to 16% from 10.2% in the previous year. Russia's Gazprom OAO remained in third place and France's Total SA maintained fifth position. Royal Dutch Shell moved into sixth place from tenth last year. Three re-entrants to the 2011 top 10 included ConocoPhillips, which moved up from 24th place to seventh; Russia's OJSC Rosneft Oil Company, which rose from 14th to ninth; and Lukoil Oil Company, which advanced from 11th to 10th. Taking eighth place again this year was China Petroleum & Petrochemical Corp.
Fastest Growing Companies Come From Non-OECD Countries
Topping this year's list of the world's fastest-growing companies – ranked by three-year compound growth rate (CGR) – is Essar Energy plc. Although Essar Energy is incorporated in the U.K., the credit for its three-year CGR of 199.5% has to go to India, as this is an Indian-owned and led company. Another Indian company, Cairn India Ltd., came in fourth with a CGR of 116.5%. Four Russian companies ranked among the top 10 fastest growers: JSC RusHydro in fifth place with a 106.1% CGR; Bashneft OJSC in sixth with 57.9% CGR and Moscow Electric Grid OJSC in ninth place with 42.4% CGR. Although 11 Chinese companies ranked among the 50 fastest growers -- the most of any country -- none made it into the lead 10. Eleven Chinese companies and two Hong Kong based companies ranked among the 50 fastest-growers with the tenth spot on the list going to Hong Kong-listed China Resources Power Holdings.
Also leading the ranks of the world's fastest growing energy companies were: Saudi Arabia's Rabigh Refining & Petroleum Company whose 167.5% CGR gave it second place ranking and Texas-based El Paso Pipeline Partners, L.P. which came in third with a130.3% CGR. Rounding off the top 10 list were two Asian companies. In seventh and eight places, respectively, were Thailand's PTT Aromatics & Refining Public Company Limited with a 49.6% CGR and Malaysia's YTL Power International Bhd with a 48.9% CGR.
Latin America Shines in Return on Invested Capital
Return on invested capital is where Latin America makes its mark. Top of the board is Colombia's rejuvenated Ecopetrol SA with a staggering ROIC of 98%. Argentina's YPF SA is third with an ROIC of 28%, while Brazil's Eletropaulo-Metropolitana Eletricidade de Sao Paulo SA is seventh ranked with an ROIC of 22%. Coal India Ltd., newly listed in 2010, is second with an ROIC of 31%. Russian companies TNK-BP Holdings and Interregional Distribution Grid Companies Holding JSC, took fourth and fifth places, with 26% and 25% ROIC, respectively, while Kazakhstan's oil and gas company KazMunaigas Exploration and Production JSC takes the tenth spot with an ROIC of 19%. Two Chinese companies also made the list of the top 10 companies in ROIC, as did U.S. exploration and production firm Cimarex Energy Company, which is a new entrant to the Platts Top 250 Rankings.
An in-depth analysis of this year's rankings by Ross McCracken, editor of Platts Energy Economist, is featured in the November issue of Platts Insight Magazine. For McCracken's commentary, complete rankings and more information, visit the Platts Top 250 website (www.platts.com/Top250Home) or access the media kit in the Media Center of Platts.com.
The Platts Top 250 Global Energy Company Rankings are based on data compiled and maintained by S&P Capital IQ, which, like Platts, is a part of The McGraw-Hill Companies. To be ranked, companies must have assets greater than US$3.5 billion and must be publicly listed.
The sixth annual Asia Awards Dinner was held in partnership with Singapore International Energy Week for a third consecutive year and was sponsored by OpenLink, a developer of energy and financial trading and risk management software solutions with offices in New York, London and Houston.