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. Saudi Electricity Company (SEC) and Abu Dhabi National Energy Company are the first from the 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. 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 percent since the rankings began seven years ago. 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 businesses. 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 percent 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 percent across the ranking's history. This year's top performing Asian energy business was PetroChina Co., Ltd., which placed ninth worldwide, andahead of many long-entrenched names on the roster. Second, third, fourth and fifth-place finishers in Asia were China Petroleum & Chemical Company (knownas Sinopec), Reliance Industries Ltd., Oil & Natural Gas Corp. Ltd., and PTT Plc. “The globalization of the energy marketplace is increasingly reflected inthe 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.” __
