National Oil Companies Gaining Predominance

Posted on December 2, 2008. Filed under: Blender's Tax Credit, Hydrous Ethanol | Tags: , , , , |

The following article appeared in the December 2, 2008 issue of Green Car Congress.

 

 

National Oil Companies Gaining Predominance

Petroleum Intelligence Weekly published its annual ranking of the world’s 50 largest oil companies, a benchmark survey now in its 20th year. The main trend in the latest survey is the greater predominance of national oil companies, and particularly the substantial gains by Chinese and Russian companies.

The PIW Top 50 rankings are based on six operational criteria that allow the comparison of private sector and state-owned oil companies. This year’s rankings are based on operational data for 2007, the most recent period data available for such a wide group of firms.

In contrast to national oil companies, the major oil companies and other private sector firms generally lost ground, especially in the top tiers. In contrast to other super majors, Exxon Mobil held on to its number three position. A comparison with results from 10 years ago shows that the top major oil companies, as a group, now account for a smaller global share of the six ranking criteria than they did prior to the mega-mergers that created them.

Other key findings from the PIW Top 50:

  • Saudi Aramco maintains its hold on the top spot, the result of significant ongoing investment in both upstream and downstream oil and gas operations.
  • China’s CNPC surpasses BP and Shell.
  • Russia’s Rosneft makes biggest jump, from 24th to 16th.
  • Three new firms moved into the PIW Top 50—Uzbekneftegas, China’s CNOOC and Kazmunaigas of Kazakhstan—all majority state-owned.
  • Majority state-owned national oil companies now make up 27 of 50.
Piw2008

 

 

About Renergie

Renergie was formed by Ms. Meaghan M. Donovan on March 22, 2006 for the purpose of raising capital to develop, construct, own and operate a network of ten ethanol plants in the parishes of the State of Louisiana which were devastated by hurricanes Katrina and Rita.  Each ethanol plant will have a production capacity of five million gallons per year (5 MGY) of fuel-grade ethanol.  Renergie’s “field-to-pump” strategy is to produce non-corn ethanol locally and directly market non-corn ethanol locally.  On February 26, 2008, Renergie was one of 8 recipients, selected from 139 grant applicants, to share $12.5 million from the Florida Department of Environmental Protection’s Renewable Energy Technologies Grants Program.  Renergie received $1,500,483 (partial funding) in grant money to design and build Florida’s first ethanol plant capable of producing fuel-grade ethanol solely from sweet sorghum juice.  On April 2, 2008, Enterprise Florida, Inc., the state’s economic development organization, selected Renergie as one of Florida’s most innovative technology companies in the alternative energy sector.  By blending fuel-grade ethanol with gasoline at the gas station pump, Renergie will offer the consumer a fuel that is more economical, cleaner, renewable, and more efficient than unleaded gasoline.  Moreover, the Renergie project will mark the first time that Louisiana farmers will share in the profits realized from the sale of value-added products made from their crops.

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    Renergie created “field-to-pump," a unique strategy to locally produce and market advanced biofuel (“non-corn fuel ethanol”) via a network of small advanced biofuel manufacturing facilities. The purpose of “field-to-pump” is to maximize rural development and job creation while minimizing feedstock supply risk and the burden on local water supplies.

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