• 2 minutes Rational analysis of CV19 from Harvard Medical School
  • 4 minutes While U.S. Pipelines Are Under Siege, China Streamlines Its Oil and Gas Network
  • 7 minutes Renewables Overtake Coal, But Lag Far Behind Oil And Natural Gas
  • 20 hours Tesla Begins Construction Of World’s Largest Energy Storage Facility
  • 17 hours Joe Biden the "Archie Bunker" of the left selects Kamala Harris for VP . . . . . . Does she help the campaign ?
  • 1 hour Will any journalist have the balls to ask Kamala if she supports Wall Street "Carried Interest" Tax Loophole
  • 2 days Trump Hands Putin Major Geopolitical Victory
  • 4 hours America Could Go Fully Electric Right Now
  • 4 hours Buying votes is cool now.
  • 5 hours In 1,267 days, Trump has made 20,055 false or misleading claims
  • 2 days Those Nasty White People and Camping Racism
  • 3 hours Brent above $45. Holding breath for $50??
  • 1 day .
  • 1 day The Truth about Chinese and Indian Engineering
  • 1 day COVID&life and Vicious Circle: "Working From Home Is Not Panacea For Virus"
  • 4 hours China wields coronavirus to nationalize American-owned carmaker
  • 1 day The World is Facing a Solar Panel Waste Problem
  • 3 days Oil Tanker Runs Aground in Mauritius - Oil Spill
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Oil & Gas Industry Leads Forbes Profit Growth List In 2019

The oil and gas sector on the Forbes 2019 list of the world’s biggest public companies saw the largest profit growth among the top 10 sectors on the list, data and analytics company GlobalData said on Tuesday.

GlobalData analyzed the annual change in sales and profits between 2018 and 2019 of the top 10 sectors by sales on the Forbes list of The World’s Largest Public Companies.

The analytics company found that the biggest gainer in terms of profit growth was the oil and gas sector with a 36.3-percent increase in profit between 2018 and 2019, followed by technology and communication with 19.8-percent growth, metals and mining growing at a rate of 13.6 percent, banking with a 12.6-percent increase, and pharmaceuticals and healthcare, with 11.8-percent growth.

In terms of revenue growth rates, the oil and gas industry beat technology and communication to emerge as the top sector in the Forbes 2019 list with 16.2 percent annual growth in revenues, GlobalData’s analysis showed. 

“The Declaration of Cooperation between OPEC member countries and 11 non-OPEC oil producing countries on 30 November 2017 for voluntary production adjustments to about 1.8 million barrels per day during 2018 had a positive impact on the oil and gas sector,” Parth Vala, Company Profiles Analyst at GlobalData, said, commenting on the company’s findings.

Despite the nearly 40-percent oil price slide in the fourth quarter of last year, oil and gas supermajors booked solid sets of Q4 and 2018 results. Three of Big Oil’s five—Shell, ExxonMobil, and Chevron—reported strong figures for 2018, with many key metrics beating analyst forecasts and some earnings at their highest levels since 2014—the last time the price of oil was above $100 a barrel.

Those companies are on the Forbes 2019 list of the largest public firms, with Shell sitting at number 9, Exxon at 11th, and Chevron at 19th, closely followed by Petrochina at 22nd, BP at 24th, and Total at the 25th spot.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News