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TAQA's 85% growth tops Platts energy league table

Abu Dhabi National Energy Company is fastest growing EMEA energy co.

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Abu Dhabi's TAQA has shot up the Platts ratings over the course of the last year.
Abu Dhabi's TAQA has shot up the Platts ratings over the course of the last year.

By Daniel Canty

Despite unprecedented price volatility, global recession, swings in demand, and the “greening” of the world’s energy priorities, major oil companies maintained their stronghold as the world’s top-performing energy businesses, according to the 2009 Platts Top 250 Global Energy Company Rankings announced in Singapore earlier this week.

Houston-based ExxonMobil Corporation retained the number one spot in the Platts Top 250 for the fifth consecutive year in the roster’s eight. In second and third place were Chevron Corporation and Royal Dutch Shell, followed by BP and Total in fourth and fifth, respectively. Altogether, integrated oil and gas companies (IOGs) carved out the 13 top spots in the 2009 Platts rankings, and took 30 of the top 50 places.

“Besides showing the continued leadership of the international oil companies, the rankings highlight the rising importance of emerging market entities and stronger performances by utilities,” said Platts President Larry Neal.

“Clearly, the ups and downs of the rankings reflect the opportunities and challenges of the various sectors – exploration and production companies benefited from new finds, utilities enjoyed green-related investments, and storage companies got a boost from the slow demand that bit into refiners’ margins.“

There was cause for special celebration for the UAE's Abu Dhabi National Energy company (TAQA), which was named as the fastest growing EMEA region energy company, with a compound growth rate of 85%.

The company came in third overall in the global survey, pipped by two US firms in the list of the world’s 50 fastest-growing energy companies. Topping the list was ONEOK Partners LP of Oklahoma, a storage and transfer company, which ranked 129 in the overall top 250 and whose 124.9% compound growth rate (CGR) far eclipsed that of other firms.

Nester Energy LP of Texas took the number two spot in the global fastest-growing, sporting a three-year CGR of 94%. The Abu Dhabi National Energy Co. and Ultrapar Participacoes SA came in as third and fourth fastest-growing, with CGRs of 85% and 82% respectively.

Source: arabianoilandgas.com

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