Irving-Based Exxon Mobil Isn’t The World’s Top Energy Company Anymore, Annual Survey Says | KERA News

Irving-Based Exxon Mobil Isn’t The World’s Top Energy Company Anymore, Annual Survey Says

Oct 4, 2017

Five stories that have North Texas talking: How Exxon compares among top energy companies; nearly 400,000 Texans could lose health insurance; Dallas will close 20 miles of streets next month; and more.

Exxon Mobil has been dethroned.

For 12 years, the Irving-based oil and gas giant ranked first on S&P Global Platts’ list of the top 250 global energy companies. This year, it was knocked down to ninth place. Russia’s Gazprom took the No. 1 spot.

Platts measures the financial performance of the world’s leading energy companies based on their asset worth, revenues, profits and return on invested capital. The list only includes companies that have assets greater than $5.5 billion. Here's more on the methodology.

As Texas Monthly reports, Exxon’s has had a hard year: Its longtime CEO Rex Tillerson left to serve in the Trump administration; it suffered a blow in its alleged climate change fraud case; it was fined $2 million by the Treasury Department; it was sued by current and former employees; and it dropped in this year’s Fortune 500 Companies list, too.

 

Exxon could rebound in the rankings in the future with its increasing investments in the Permian basin in West Texas, according to Yahoo! Finance.

San Antonio-based Valero was the only other U.S. company in the top 10, dropping to No. 8 from third in last year’s rankings. [Platts, Yahoo! Finance, Texas Monthly]

 

Some links have a pay wall or require a subscription.

  • More than 390,000 low- and middle-income Texas children and pregnant women are at risk of losing their health insurance after Congress failed to renew authorization for the Children's Health Insurance Program (CHIP) by the Sept. 30 deadline. [The Texas Tribune]
  • Biking around Dallas and living to tell the tale is no small feat. Bumper-to-bumper traffic, distracted drivers, constant construction and general inaccessibility create a perfect storm only few can brave. Next month, 20 miles will closed for bikers to ride.
  • If you bring four cans of food to donate to the North Texas Food Bank on Wednesdays to the State Fair of Texas, you get $4 admission. On Thursdays, bring an empty 20 oz. bottle of any Coca-Cola product and receive $7 admission. Here are more ways to save.

The High Five is KERA’s daily roundup of stories from Dallas-Fort Worth and across the state. Explore our archives here. And sign up for our weekly email for the North Texas news you need to know.