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Royal Dutch Shell Surpasses Exxon As Top Dog

Royal Dutch Shell Surpasses Exxon As Top Dog thumbnail

Royal Dutch Shell took the top spot among oil and gas companies on the Forbes Global 2000’s list of the biggest and most powerful public companies, surpassing last year’s leader Exxon Mobil Corp.

The Anglo-Dutch oil and gas giant ranked 11th among all companies on the list, up from 20th the previous year, mostly because of higher sales due to lofty commodity prices. Irving, Texas-based Exxon came in at 13th, the same as last year.

The Forbes Global 2000 is determined by a composite score of equally weighted measures of revenue, profits, assets and market value.

San Ramon, Calif.-based Chevron Corp. was the third-biggest oil and gas company on the list with a 21st ranking compared with 359th the previous year, which it ended $431 million in the red because of lower commodity prices, among other things.

France’s Total SA was the fourth-ranked oil and gas company on the list, followed by China Petroleum & Chemical Corp., known as Sinopec, and PetroChina Co. Ltd.

BP plc, Gazprom and Rosneft of Russia and India’s Reliance Industries Ltd. rounded out the top 10.

Oil and gas companies’ financial results improved considerably over the last year on the back of higher oil prices, with West Texas Intermediate crude averaging $51 per barrel in 2017, up $7 per barrel over the previous year, according to the U.S. Energy Information Administration.

WTI oil prices exceeded $72 per barrel earlier this year before falling to around $65 after oil ministers from Russia and Saudi Arabia indicated they may increase production later this year in response to President Donald Trump’s criticism about rising prices.

Although oil prices have slipped from their highs this year, Andy Lipow of consulting firm Lipow Oil Associates said he expects Brent oil prices to rebound to $80 versus a recent $75 as Venezuelan production falls, the impact of Iranian sanctions on supply becomes clearer “and Saudi Arabia prefers higher prices in advance of the Aramco IPO.”

The top 25 oil and gas companies on the Forbes Global 2000 earned $144.6 billion on sales of $2.9 trillion during the list’s 12-month measurement period, way up from $73 billion in earnings on sales of $2.2 trillion the previous year and $81 billion in earnings on sales of $2.6 trillion the year before that.

For more coverage of the Forbes Global 2000 ranking of the world’s largest public companies, see below:

Forbes’ Full List Of The Global 2000


7 Comments on "Royal Dutch Shell Surpasses Exxon As Top Dog"

  1. Cloggie on Thu, 7th Jun 2018 7:01 am 

    Small country playing ball with the big guys.

  2. Dredd on Thu, 7th Jun 2018 9:54 am 

    They will become a good source of disgorgement when the revolution comes (The World According To Measurements – 13).

  3. Sissyfuss on Thu, 7th Jun 2018 12:23 pm 

    Congratulations to Shell, the cleanest dirty shirt in the laundry basket of freebooters and brigands. Your shareholders must be so proud.

  4. Cloggie on Thu, 7th Jun 2018 2:55 pm

    “Chinese Solar Shift Rewrites 2018 Forecasts, Prices Expected To Fall By 35%”

    Oil prices could be up 35% in the same timeframe.

  5. Outcast_Searcher on Thu, 7th Jun 2018 7:14 pm 

    Cloggie, I still don’t see why somewhat cheaper panels are such a good deal. It’s not like that lowers the install costs. And it’s not like that lowers battery costs.

    To me, the likely total cost reduction, including batteries, over the longer run will be the real tale, re net solar demand.

    Now, if oil also gets much more expensive, that can only help, especially re BEV’s.

    So it’s all good. I just think we need to be patient and let the double digit annual rise in demand do its work over time.

  6. Cloggie on Thu, 7th Jun 2018 10:30 pm 

    “Cloggie, I still don’t see why somewhat cheaper panels are such a good deal. It’s not like that lowers the install costs. And it’s not like that lowers battery costs.”

    That is true. To take my own 6 panel installation, total cost 3000 euro. Breakdown: panels 1500,-, converter 500,- and installation 1000,- That is sufficient to produce 1500 grid-tied kwh/year, against a total consumption of 1600 kwh/year, feeding the most energy efficient equipment I could find.

    Minus 35% panel price would bring down panel cost from 1500,- to 1000,- or 2500,- euro total installation cost.

    In the blueprint for 100% renewable energy for Germany…

    …storage looks like this, numbers in TWh:

    power-to-gas: 298
    biomass: 50
    pumped hydro: 7
    batteries: 9.2

    So here you see that hydro storage and batteries will play a very small role in a cost-optimized 100% renewable energy system. By far the most will come from hydrolysis off water, producing H2 and derivatives like NH3.

  7. Free Speech Forum on Sat, 9th Jun 2018 7:54 am 

    You know the US has become insane today when:

    The answer to endless wars is more wars.

    The answer to the police state is more tyranny.

    The answer to a dead economy is starting a trade war.

    The answer to regulations is more laws.

    The answer to endless debt is more debt.

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