Five largest oil and gas companies in the world1. SinopecChina Petroleum and Chemical Corporation, also known as Sinopec, is one of China’s three state-owned oil companies.The Beijing-headquartered firm, which was founded in 2000, is the second-largest company behind US retailer Walmart and the largest oil and gas firm in the world by revenue, after recording a whopping $407bn at the end of the 2019-20 fiscal year.The early implications of the coronavirus pandemic had a significant impact on producers in China, where the first cases of the virus were recorded in December 2019 and stringent government lockdown measures were imposed.As a result, Sinopec’s profits fell by more than 16% in 2019-20 to $6.8bn. Oil and gas is often painted as the dirtiest sector within the energy industry (Credit: Shutterstock/SINCHAI_B) Sinopec and Royal Dutch Shell are two of the top five largest oil and gas companies in the world by revenue.Oil and gas is often painted as the dirtiest sector within the energy industry and has come under intense scrutiny over the past few years for its role in polluting the atmosphere.But, in a bid to clean up the economy, major companies have started to invest in renewable technologies as they expand their portfolios to cater to environmentally conscious investors.Those efforts, however, have been hampered over the past year by the coronavirus pandemic, which has had a dramatic impact on producers following a drastic drop in energy demand.Here, NS Energy profiles the top five largest oil and gas firms, based on the 2020 Fortune Global 500’s revenue figures. The oil and gas industry boasts some of the largest companies in the world, with five producers listed in the top 10 of the Fortune Global 500 4. Saudi AramcoSaudi Aramco is the state-owned oil company of Saudi Arabia and is the fourth-largest oil and gas company by revenue, after bringing in $330bn.The Dhahran-headquartered firm, which was founded in 1933, has the world’s second-largest proven crude oil reserves – more than 270 billion barrels – and is the largest daily oil-producing company.In December 2019, Saudi Aramco’s shares began trading on the Saudi Stock Exchange, where it became the largest initial public offering (IPO) in the world at the time, raising $25.6bn.The company recorded $88bn in profits in 2019-20. 2. China National PetroleumChina National Petroleum is the state-owned parent company of PetroChina – the country’s second-largest oil producer.Having brought in $379bn in revenue, China National Petroleum is also the second-largest oil and gas firm in the world.The Beijing-headquartered firm, which was founded in 1988, brought in $4.4bn in profits in 2019-20.It currently holds assets in 30 countries around the world. 5. BPBP, short for Beyond Petroleum, is the fifth-largest oil and gas company in the world. Due to weak oil prices, its revenue fell by 7% in 2019-20 to $283bn.The British oil giant, which is regarded as one of the supermajors, suffered a 57% drop in profits in the latest fiscal year to $4bn.The London-headquartered firm was founded in 1909 and has operations across 80 countries around the world.Having previously been the first oil major to commit significant capital to renewable energy projects, BP outlined its plan in February 2020 to reach net-zero emissions by 2050. 3. Royal Dutch ShellShell has recorded $352bn in revenue and is regarded as one of the “supermajors” (Credit: Shutterstock/siam.pukkato)Royal Dutch Shell, which was founded in 1907 and is headquartered in The Hague, Netherlands, is the third-largest oil and gas firm.The Anglo-Dutch multinational has recorded $352bn in revenue and is regarded as one of the “supermajors” – a term used to describe the world’s six largest publicly traded oil and gas firms.Following weaker oil prices, Shell’s profits were down by more than a third in 2019-20 to $15.8bn.Over the past few years, the company has expanded its portfolio by purchasing renewable energy assets such as UK-based electricity and gas provider First Utility, and Europe’s largest electric vehicle charging company NewMotion.Shell is aiming to become a net-zero emissions business by 2050.
On the global summit social calendar, the annual World Economic Forum in Davos, Switzerland, is the glittering, invitation-only confab where titans of industry and political figures, such as Microsoft founder Bill Gates and Secretary of State John Kerry, strategize with academic leaders and celebrity A-listers, such as Harvard President Drew Faust and activist musician Bono.During a “debriefing” on Friday at the Harvard Kennedy School (HKS), some local superstars who attended the event on Jan. 22–25 gave students and other attendees an inside peek at the issues on the international agenda and an idea of what it was like to be there. HKS maintains close ties with Klaus Schwab, M.P.A. ’67, the founder and chairman of the World Economic Forum.Rakesh Khurana, the Marvin Bower Professor of Leadership Development at Harvard Business School (HBS) and co-master of Cabot House, said he looked at Davos through the lens of his training as an organizational sociologist.“What was so fascinating to me was that you had these people trudging their bags behind their backs through the snow to this little town that’s actually not easy to get to, and yet feeling the important pull of locality, of place — that somehow there was a compulsion among business elites, political elites, [and] academics to see each other physically face-to-face,” said Khurana.“In a highly secular world, I think, for global elites, it represents a type of moment for communion, of seeing similar others … when people feel less and less affiliation or connection to their own national or regional identities,” he said. Noting that even as technology has made it easy to share ideas long-distance, Davos still draws the powerful into its orbit, he said, “The reason is that it’s not about content, it’s about these connections.”Faust took the opportunity of a Harvard reception at Davos to announce Khurana’s appointment as the next dean of Harvard College, prompting a hearty round of cheers, said David Gergen, Public Service Professor of Public Leadership and director of the Center for Public Leadership at HKS. “Here was this really exciting appointment that got us all galvanized.”Gergen is a Davos veteran, going back to his days as a journalist in the 1980s.“I’ve always found it extraordinarily demanding, physically demanding as an undertaking, but also something really worth doing because it gets you out of your comfort zone. Intellectually, you’re exposed to all sorts of different views on different things you haven’t thought very much about. And it’s a way to get the global zeitgeist, to understand where the world is in its thinking,” he said. “It lifts your game, and that’s very, very valuable.”The panel, which also included Felipe Calderón, the former president of Mexico and currently an Angelopoulos Global Public Leaders Fellow at HKS, and Joshua R. Sanes, the Jeff C. Tarr Professor of Molecular and Cellular Biology and the Paul J. Finnegan Family Director of the Center for Brain Science, said they sensed some optimism, albeit cautious, at this year’s meeting following the recent European debt crisis. They said the big issues were the impact that new technology will have on employment, the growth of income inequality, China’s role as a world economic leader, climate change, and the precariousness of the U.S. economic recovery.“The United States is more and more marginalized there in terms of conversations. People are much more interested in knowing what’s the future of China, what’s the future of India,” said Gergen. “There’s a very pervasive sense that the United States is leaving the stage as a world leader, and others are coming onto the stage.”But besides big ideas and changing the world, for some attendees, the unspoken allure of Davos is the camaraderie, where access to intimate private gatherings with the rich, powerful, and famous is the ultimate mark of a global pecking order.“Once you get there, I’ve got to tell you, it’s like surreal,” Khurana said. “I don’t know if F. Scott Fitzgerald was completely right about the rich being different than you and me, but they definitely have better parties.”Binta Niambi Brown, a senior fellow at the Mossavar-Rahmani Center for Business and Government, attended her first Davos as part of the forum’s Young Global Leaders program. While she agreed with Khurana that social stratification was certainly evident, she thought it was clearer in some venues than in others.“Once you see Lloyd Blankfein or Jamie Dimon or Dominic Barton on the dance floor, you realize that we are all inherently equal,” Brown quipped, before adding, “which would explain why it was so easy to walk up to any of them and to discuss ideas with them, and perhaps even why they take you seriously in that environment.“Listening to our secretary of state in a global setting, you start to hear what we as Americans sound like in a very different way when you’re hearing it amongst other global leaders and global participants,” Brown said of one standout moment for her.“This is one of the reasons why it’s so important to participate in these global institutions … because you start to grow and change in ways that you don’t if you just spend all of your time here caring about the rest of the world. You have to get out, and you have to engage with other folks.”
NZ Herald 22 September 2018Family First Comment: Just as well euthanasia isn’t available …. yet! A classic example of why we should say #rejectassistedsuicidewww.protect.org.nzOn June 10 2017, Killarney Jeffares’ life flashed before her eyes.The words, “there’s nothing we can do” echoed around her brain and she was quickly moved into palliative care.Wills were finalised, family were present and funeral plans were put into motion. Her death was imminent.It had been six months since she was diagnosed with rectal cancer, but an operation found it had spread.“I knew something was wrong because it was supposed to be a seven-hour surgery and I was out after two hours,” Jeffares said.“It was horrific. We were mourning. My children from Australia came over to visit me and we started our grieving process.”Her husband Robert was and still is the only person who was told by the surgeon the rough timeframe of how long his wife would live for.“It really hit home,” he said. “I won’t tell anyone. That’s one man’s opinion.”But four days later, she was told there had been a mistake. Her samples had come back she was told she actually had ovarian cancer and all hope was not lost.“We can never get that time back. It was quite traumatic for all of us going through that process, so we were just speechless when they told us ‘oh no, we’ve got that wrong’, she said.https://www.nzherald.co.nz/index.cfm?objectid=12121907&ref=twitterKeep up with family issues in NZ. Receive our weekly emails direct to your Inbox.