World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

Top Five Oil Giants’ Market Value Falls To $680 Billion, Lower Than Tesla’s $752 Billion

There is a delicate blend of optimism and caution as oil supermajors sail into earnings season, following one of the worst years for the industry.

According to the research data analyzed and published by Sijoitusrahastot, the energy sector was the worst performer on the S&P 500 in 2020, plummeting 37% YoY. Comparatively, the broader index had a close to 15% gain during the period.

ExxonMobil, the largest US energy firm, was one of the stock market’s top losers in 2020. Its share price fell by a massive 40% during the period. The decline wiped around $120 billion from its market value.

Exxon Reports First Annual Loss in 40 Years

At its peak in 2007, Exxon had a market cap of $525 billion. As of February 2, 2021, it was down to $189.59 billion according to Marketwatch. Other oil giants were not spared either.

Chevron lost $68 billion in market cap during the year. It was valued at $164.01 billion as of February 2, 2021. At the same time, BP had a market cap of $75.25 billion, Royal Dutch Shell $139.67 billion and Total SE $111.44 billion. The five had a cumulative value of $680, about $70 billion lower than Tesla’s $752 billion.

Exxon posted a loss of $20.1 billion in Q4 2020, its fourth consecutive quarterly loss. Its revenue amounted to $46.54 billion, against an expected $48.76 billion according to The Street. For the full year, it had a loss of $22.4 billion, its first annual loss in 40 years.

Chevron had a loss of $11 million in Q4 2020 compared to a $2.8 billion profit in Q4 2019. Overall, it had a $5.54 billion loss for the year, compared to the 2019 profit of $2.92 billion.

The full story, statistics and information can be found here: https://sijoitusrahastot.org/top-five-oil-giants-market-value-falls-to-680-billion-lower-than-teslas-752-billion/

© Scoop Media

 
 
 
World Headlines

 

Syria: Economic Decline, Rising Hunger And Surging Humanitarian Needs

Syria’s fragile economy has “suffered multiple shocks” over the past 18 months, with its currency plummeting and joblessness swelling as people struggle to cover their basic needs, the UN Emergency Relief Coordinator told the Security Council ... More>>

OECD: Final Quarter Of 2020 Shows Continued Recovery In G20 International Merchandise Trade

G20 international merchandise trade continued to rebound in the fourth quarter of 2020 ( exports up 7.2% and imports up 6.8%), following the sharp falls seen in the first half of 2020, as lockdown measures affected trade globally. Although growth ... More>>

UN Report: Civilian Casualties Surged After Peace Talks Began In Afghanistan

Monitoring by the UN Assistance Mission in Afghanistan, UNAMA, and the UN Human Rights Office has revealed that despite a drop in civilians killed and injured overall in 2020 there was a rise in civilian casualties following the start of peace negotiations ... More>>

Focus On: UN SDGs


2021: Critical Year To ‘reset Our Relationship With Nature’ – UN Chief

During this time of “crisis and fragility”, the UN chief told the United Nations Environment Assembly on Monday that human well-being and prosperity can be vastly improved by prioritizing nature-based solutions. Painting a picture of the turmoil ... More>>


Paris Agreement: UN Secretary-General António Guterres To Mark U.S. Reentry With Envoy For Climate John Kerry

Watch live at webtv.un.org UN Secretary-General António Guterres will join U.S. Special Presidential Envoy for Climate John F. Kerry at an event marking the United States’ reentry into the Paris Agreement this Friday. The discussion with the Secretary-General ... More>>

WeBeliev: Scoop In Conversation With Abhishek Sinha, Founder Of WeBeliev, An NZ Crowdfunding Platform

WeBeliev supports 17 SDGs, launching sector specific campaigns every month Q. What is WeBeliev and why did you start it? A. WeBeliev is a Singapore-registered crowdfunding platform aimed at fundraising for all the 17 Sustainable Development Goals (SDGs) ... More>>