Due to the acquisition of PFC Energy by IHS, the latest content of the Energy 50 can be found on the IHS website.
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The PFC Energy 50 is the definitive ranking of the world's leading publicly traded energy companies by market capitalization. The listing includes companies from nine sectors: International Oil Companies; National Oil Companies; Exploration & Production; Midstream/Infrastructure, Refining & Marketing; Gas/Utilities; Oilfield & Drilling Services; Equipment, Engineering & Construction; and Alternative Energy.
PFC Energy 50 Ranking of World’s Top Energy Companies
The combined market capitalization of the PFC Energy 50 at the end of 2012 was $3.5 trillion, roughly equal to the group’s value at the end of 2011. In a year that saw continued economic and political uncertainty around the globe, some of the biggest winners were in North America, where unconventional oil and gas production has radically changed the energy picture.
“The surge in crude production from new regions has created enormous opportunities for well-placed refining and infrastructure companies in North America,” commented PFC Energy’s Chairman Robin West. “Over time, however, market fundamentals will prevail as others rush to capture these margins as well.”
Though North American Midstream/Infrastructure companies saw the highest gains in 2011, refiners took this mantle in 2012. HollyFrontier, Marathon Petroleum, Tesoro and Valero all benefited from their geographic proximity to new sources of American production, profiting from the spread between inland and coastal prices. On average, these four companies saw a share price gain of 82%.
Elsewhere in the world, the top performing National Oil Companies (NOCs) all did well, boosting share price by an average of 31%, buoyed by Colombian NOC Ecopetrol’s 43% rise in share price. This was in marked contrast to 2011, when the top three NOCs posted an average share price rise of just 3%.
Ecopetrol shone through as one of the most surprising companies on the list, rising to #6 – a meteoric rise from its debut on the list at #33 after its IPO in 2007. The company has grown at a 28% compound growth rate to a valuation of $126.6 billion.
Economic and geopolitical uncertainty will certainly continue driving energy company values, though it is clear that a thought out and well-executed strategy positively affects value.