•The combined market capitalization of the 50 largest energy companies fell 46% from $5.2 trillion a year ago to $2.8 trillion, the worst decline in the lists history and substantially more than the 12% and 7% declines seen in 2001 and 2002. This years PFC Energy 50 companies have the same combined value as the list published three years ago.

•The lost value reflects a combination of falling global equity markets (S&P 500 down 38.5%) and lower oil prices (WTI price declined 59% to a level not seen since 2004).