A ranking of the largest firms in oil, gas and power by US-dollar revenues.
by David Ramirez
No surprise, oil and gas companies had one of their worst years in 2014. The revelation, however, is the significant outperformance of others in this sector, as well as some in the electricity industry.
While the consolidated revenue of the 50 firms in the ranking went down in 2014 to $775.8 billion, compared to the previous year’s $776 billion, there were noticeable winners, such as Argentina’s YPF, whose revenue and earnings soared by 20 and 34 percent.
YPF’s was, by far, the best performance amongst all oil and gas firms in the ranking, partly explained by the firm’s vertical integration, which allowed it to generate more revenue from downstream activities. But investments played a role too.
As Miguel Galuccio, YPF’s CEO, recently explained to Latin Trade magazine, investments since 2011 have driven increases in oil and gas production of 10 and 25 percent over the past four years.
Higher oil output and the subsequent 17 percent rise in sales were also key factors behind the 7 percent revenue increase for Pacific Rubiales last year, although significant non-cash items drove the company to register $1.3 billion losses, one of the highest in the industry.
Of course, the latter is dwarfed by Petrobras’s $8 billion losses following provisions related to the corruption scandal that is still shaking Brazil’s socio-political …
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