Follow us:
Subscribe to our newsletter

logo

  • News
  • Projects
  • Business and Finance
  • Innovation
  • Products and Services
  • Events
  • Online Magazine
  • Advertise
  • Contact
Home
  • News
  • Projects
  • Business and Finance
  • Innovation
  • Products and Services
  • Events
  • Online Magazine
  • Advertise
  • Contact
Quotes by TradingView

Oil and gas sector tops 2019 list of world’s largest companies

21 Aug, 2019
518



Oil and gas edged past technology and communication to emerge as the top sector in the Forbes 2019 list of world’s largest public companies, with a 16.2 per cent year-on-year (YoY) growth in revenue generation.

The figures were published by leading data and analytics company, GlobalData, who analysed the YoY change in sales and profits of the top 10 sectors by sales and the geographical spread of Forbes Global 2000 largest public companies and normalised into appropriate sectors.

Company Profiles Analyst at GlobalData, Parth Vala, said 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.

The construction sector also witnessed sales growth due to large-scale investment in infrastructure projects, increased demand for housing and government initiatives to invest and expand road, rail and airport infrastructure projects in China. Pharmaceuticals and healthcare, and insurance were the two sectors in the top 10 list to report sales decline.

Oil and gas was the major gainer with a profit growth rate of 36.3 per cent, followed by technology and communication (19.8 per cent), metals and mining (13.6 per cent), banking (12.6 per cent) and pharmaceuticals and healthcare (11.8 per cent).

Forbes Global 2000: Sales and Profits of Top 10 Sectors 2019 vs 2018. Source: Forbes Global 2000 and Annual Reports. Image credit: GlobalData.

In terms of geographical spread, the Asia-Pacific (APAC) region continued to dominate the Forbes Global 2000 with 790 companies including China (251) and Japan (223), followed by North America (631) including the US (575), Europe (457), the Middle East and Africa (67), and South and Central America (55).

APAC reported the highest sales growth of 8.2 per cent, followed by the Middle East and Africa (7.5 per cent), North America (5.7 per cent) and Europe (2 per cent).

The sales growth in APAC was supported by rapid urbanisation, stable economic growth, structural reforms and increasing millennials.

The Middle East and Africa reported the highest profit growth of 60.4 per cent on the back of strong performance of the oil and gas sector, followed by South and Central America (47.1 per cent).

Related Articles

activities

Natural gas energises Western Australia to another budget surplus

M&A deal activity in the oil and gas industry declined by 41% in Q1 2022

Digitalization in Oil and Gas, Canada

8th Annual IoT in Oil & Gas Conference

Comments

Leave a comment Cancel reply

You must be logged in to post a comment.

all news all projects

Latest Posts

  • Latest News
  • Latest Projects
16 Jun

Microfossils provide clues about Australia’s petroleum potential

15 Jun

AEMO makes unprecedented decision to suspend energy market

15 Jun

Wage rises to be felt, but lack of skilled workers a bigger issue

15 Jun

Sanctions weaken oil and gas construction pipeline in Eastern Europe

15 Jun

WA-designed offshore inspection system pushes frontier of robotics

17 Jun

Esso Australia starts technical tender for Bass Strait decommissioning

17 Jun

Study to check feasibility of turning Torrens Island into a hydrogen hub

17 Jun

AXP energy boosts production with low-cost well re-completion in the US

15 Jun

bp to lead and operate WA renewables and green hydrogen energy hub

15 Jun

Partners to develop offshore renewable green hydrogen production

Online Magazine

    Current Cover
  • Login
  • Subscribe

Subscribe

Subscribe to our newsletter or print magazine

Our Titles

  • Home
  • Contact Us
  • Terms and Conditions
  • Privacy
© Sage Media Group 2022 All Rights Reserved.
×
Authorization
  • Registration
 This feature has been disabled
 This feature has been disabled until further notice, however you may still register
×
Registration
  • Autorization
Register
* All fields required