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Abu Dhabi, UAEMonday 22 April 2019

Adnoc among top 10 oil and gas firms worldwide, new ranking finds

The Abu Dhabi state producer's strategy pivoted to both downstream and gas last year, as it looks to become a more integrated energy player

Adnoc headquarters in Abu Dhabi. Source: Adnoc
Adnoc headquarters in Abu Dhabi. Source: Adnoc

State-owned Abu Dhabi National Oil Company is among the top 10 most influential companies and organisations in the energy sector, a new ranking from research and intelligence firm GlobalData found.

The firm was ranked sixth on the list and was the only Middle Eastern company to be featured.

The UAE accounts for 4.2 per cent of global oil production, much of it from assets owned and operated by Adnoc, according to the BP Statistical Review of World Energy 2018. The state-firm, which GlobalData noted was the 12th-largest oil company by production, has undertaken a strategic overhaul, unveiling its downstream and gas strategy last year, as it looks to become an integrated energy player regionally and internationally.

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Paris-based independent organisation, International Energy Agency, was ranked top of the list by GlobalData. The intergovernmental organisation was established following the oil crisis of the early 1970s to address policy matters regarding the energy needs of industrial countries.

The US Energy Information Administration, which publishes data and analyses on oil production, took second position, while Exxon Mobil, one of the largest Big Oil firms with revenues of $237.1 billion at the end of 2017 came in third.

State-owned China National Petroleum Corporation, the only Asian company on the ranking, took fourth position. The company had upstream successes in the Middle East last year, notably winning concessions with Adnoc to explore oil and gas onshore and offshore in Abu Dhabi.

The US Department of Energy, which regulates policy on energy in the US, was fifth on the GlobalData list. The US became a dominant player in the global energy markets last year, outpacing sovereign producers Saudi Arabia and Russia with its peak production of 11.5 million barrels per day last year.

The US also became a net exporter of crude, thanks to surging production from its shale basins. Others featured on the list include ConocoPhillips, Brazil's Petrobras, Opec and Swiss commodity trading company Glencore.

Updated: January 5, 2019 10:39 AM

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