Photo: Courtesy of PTTAR
Russia, Saudi Arabia and the U.S. were the largest oil producing countries last year. But most of the fastest growing companies on the annual list from Platts came from emerging markets.2009 was a rough year for all energy companies, but demand and prices are picking up this year. That means big profits in places like China, Brazil and Thailand.
Platts’ ranking of the fastest growing companies factors in assets, revenue, profits and returns on invested capital in 2009.
3-year Compound Growth Rate: 25.5%
Revenue: $9,052 mil
Reserves: The company has proved reserves of 294 million barrels of oil and 12.50 trillion cubic feet of natural gas as at December 31, 2009.
About: Founded in 1985 in Texas, as Cross Timbers Oil company, it switched to XTO Energy Inc in 2001 and was acquired in June by ExxonMobil Corp. for$41 billion. The company and its subsidiaries explore, develop and produce oil and gas and its pipelines across the US, extend over 500,000 miles.
3-year CGR: 28.4%
Revenue: $3,105 mil
Reserves: (N/A) The company provides 36 billion units of electricity across India.
Reliance Infrastructure's holding, Reliance Energy acquired a hydropower project and two power projects in India
About: Founded in 2002, the Indian company previously known as Reliance Energy transformed to Reliance Infrastructure Ltd. in 2008. The company produces and distributes gas, coal, wind and hyrdropower. It is currently working on a high-profile metro rail in Mumbai along with French Veolia Transport and the Mumbai Metropolitan Region Development Authority. The metro is set to be operational in June 2011.
3-year CGR: 30.6%
Revenue: $34,527 mil
Reserves: Had total installed capacity of about 44,000 MW in 2009.
Iberdrola SA is in talks to acquire a 51% stake in Poland based Grupa Energetyczna for an estimated $1,340 million.
About: Founded in 1992, the Spanish company focuses on the generation and distribution of electricity and natural gas. Iberdrola also operates in renewable energy and telecommunications. The company announced a €156 million profit in it's first quarter for FY 2010 and sold its stake in many companies. It is also expanding in countries like Brazil where it is committed to investing €1,130 million by the end of 2012.
3-year CGR: 34.3%
Revenue: $5,367 mil
Reserves: The total installed power capacity controlled by the company was 24,548.0 MW.
In a deal that cost about $135 million, Huadian Power acquired a 100% equity interest in Pingshi Power, a power generating company in the Guangdong Province.
About: Founded in 1994 as Shandong International Power Development Co. Ltd., the Chinese company is now a subsidiary of the Huadian Group, the country's fifth largest independent power producer.
3-year CGR: 35.5%
Revenue: $3,426 mil
Reserves: It serves 2.1 million gas and electricity customers.
In 2007, Fortis Inc. acquired Tearsen Inc. for $3.7 billion. It paid an additional $2.3 billion to cover Tearsen's debt.
About: Founded in 1977, Canadian Fortis Inc. is an electric utility company which distributes electricity and natural gas and operates in Canada and the Caribbean. The company is setting up a $900 million hydroelectric facility called Waneta Expansion in British Columbia.
3-year CGR: 39.7%
Revenue: $3,781 mil
Reserves: As at March 31, 2009, Tata Power had an installed capacity of about 2,785 megawatts.
Tata Power is set to acquire wind assets from Niskalp Energy, an Indian power generating company.
About: Founded in 1915, Indian Tata Power Co. Ltd. and its holdings generate, transmit and distribute electricity. Tata Power has chalked up a $1.5 billion deal to sell its 50% stake in InterGen NV to China Huaneng Group.
3-year CGR: 40.3%
Revenue: $2,828 mil
Reserves: Adaro Energy has coal reserves and resources of about 3.5 billion tonnes.
In 2009, the company paid $78.6 million for a 74.2% stake in Barging Co., a transshipment and coal barging company.
About: Founded in 2004 as PT Padang Karunia, the Indonesian company operates in coal mining and trading. It took on the name PT Adaro Energy tbk in 2008.
3-year CGR: 42.4%
Revenue: $2,825 mil
Reserves: (N/A) Had installed capacity of 11,000 MW of renewable energy, specifically windpower, in 2009.
While Iberdrola Renewables itself has made no acquisitions of note, it's parent company Iberdrola Renovables acquired a 400 MW wind farm project from German companies Ventotec GmbH and Deutsche Erneuerbare Energien GmbH.
About: Founded in America in 1995 as PPM Energy Inc., Iberdrola Renewables SA was bought by the Spanish company Iberdrola SA in 2007 and changed its name the following year. It offers energy solutions which includes developing power products, turbine construction and developing and marketing wind energy and natural gas. It also offers energy and asset management risks. In November it announced the construction of a biomass energy plant in Oregon.
3-year CGR: 44.4%
Revenue: $6.773 mil
Reserves: PTT has a refining capacity of 280,000 barrels per day and production capacity of 2,228,000 tons per year as at the first quarter of 2009.
A merger of PTT Aromatics and IRPC Plc has been postponed to 2011. The parent company PTT Plc cited legal concerns as cause for the delay.
About: Thailand's PTT Aromatics and Refining Public Company Limited was created in 2007 with a merger of Aromatics Public Company Limited and Rayong Refinery Public Company Limited. The company manufactures and distributes aromatics like Benzene, Paraxylene, Orthoxylene, Toluene etc. and petroleum products. It also conducts petroleum refinery and products that include fuel oil and liquefied petroleum gas.
3-year CGR: 50%
Revenue: $2,816 mil
Reserves: Information on installed capacity was unavailable.
There are no recent acquisitions for Moscow United Electric Power.
About: A subsidiary of OJSC MRSK Holding, Russia's Moscow Integrated Electricity Distribution Company operates transmitting and distributing electric power in the Moscow region. In August 2010, MSRS sold Moscow City Electricity Distribution Company to Leningradskaya Regional Managing Grid Company.
3-year CGR: 50.3%
Revenue: $3,856 mil
Reserves: (N/A) The company's two asphalt refineries combined produce 104,000 barrels every day.
In March 2008, NuStar Energy acquired CITGO Asphalt refining company for $450 million and paid an additional $360 million for inventory.
About: Founded in 1999, America's NuStar Energy operates refining and marketing asphalt and operates petroleum product terminals and petroleum pipelines. As of December 31, 2009, the Texas based company had 88 storage facilities and its pipelines extend over 8,417 miles.
3-year CGR: 50.4%
Revenue: $4,481 mil
Reserves: TAQA's upstream portfolio had proven and probable reserves of 574 million barrels of oil equivalent as at 31 December 2009.
In June 2010, Abu Dhabi National Energy Co. (TAQA) acquired a 40% stake in Sohar Aluminium Company.
About: Founded in 2005, U.A.E.'s TAQA is a 51% state owned energy holding company. It operates in power generation; water desalination; and the development, production and storage of oil and gas. The company is currently being sued in the US by its former CEO Peter Barker-Homek.
3-year CGR: 50.5%
Revenue: $4,281 mil
Reserves: Had total installed capacity of 15,755MW as at August 31, 2009.
While the company's CFO Wang Xiaobin has kept mum about specific deals, the company announced that it will acquire 19 coal mines in the Shanxi province.
About: Incorporated in Hong Kong in 2001, China Resources Power Holdings is a subsidiary of China Resources (Holdings) Company Limited. It invests in, develops and operates power plants and coal mines.
3-year CGR: 77.8%
Revenue: $3,793 mil
Reserves: Had total installed capacity of 25,423.5 MW as at December 31, 2009.
In October, RushHydro acquired the ESN Group's Hydroproject, a designing, survey and research institute.
About: Founded in 2004, Russia's RushHydro JSC is a hyrdopower generating company that was previously known as Hydro-OGK. In July this year the open joint stock company made a public offering of its shares. On August 17, 2009 the explosion of a transformer in its Sayano-Shushenskaya power plant in Siberia killed 67 people.
3-year CGR: 96%
Revenue: $19,941 mil
Reserves: (N/A) Ultrapar delivers liquefied petroleum gas to 10 million homes.
In 2009, its subsidiary Ultracargo acquired a storage terminal from Puma Storage do Brasil and Ultrapar acquired Texaco's fuel distribution plants in Brazil. In 2010, announced that it would acquire Distribuidora Nacional de Petróleo Ltda. (DNP) for approximately $49 million (R$ 85 million).
About: Incorporated in 1953, in Brazil, Ultrapar Participacoes SA operates in fuel distribution; chemicals and petrochemical products; and liquid bulk storage. In July 2010, the company divested approximate nly $42.954 million (R$ million) in share transfers to Aqces Logística Internacional Ltda.
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