World's Most Valuable Publicly Traded Oil Companies
The following list of the world’s 10 largest integrated oil and gas companies includes three Russian firms, two Chinese firms, and one firm each from the United States, France, the Netherlands, Spain, and Thailand. The list has been drawn from S&P Global Platts’ 2017 survey of global energy companies, which ranks companies using a proprietary formula that assigns a numerical value to a company’s asset value, revenue, profits, and return on invested capital (ROIC). Platts also calculates a three-year compound growth rate as a percentage of revenue.
Platts calculates ROIC using the following equation: ROIC = [(Income before extraordinary items) – (Available for common stock)] ÷ (Total invested capital) x 100. “Income before extraordinary items” is net income less preferred dividends and “total invested capital” is the sum of total debt, the value of preferred stock, noncontrolling interest, and total common equity.
The rankings were further divided into nine categories: coal and consumable fuels; diversified utilities; electric utilities; exploration and production; gas utilities; independent power producers; integrated oil and gas; refining and marketing; and storage and transfer. The data were provided to Platts by S&P Global Market Intelligence in June 2017.