The energy sector is a lucrative one that includes companies that produce and supply fossil fuels like oil and gas; as well as power utility companies that handle coal and renewable energy. Energy is a crucial part of making things in society run smoothly, and our dependence on it has led to increasing prices in all areas of the energy industry.
As you can imagine, this high demand combined with increasing prices means that energy companies across the world are earning a hefty profit. But which energy companies have seen the most earnings? We found the answer through a list created by the team at Solar Power Guide that ranks the biggest energy companies in the world on how much revenue they earned each second in 2021.
The team collected and analyzed the data in January 2022 using the trailing 12 months revenue (TTM) of each of the 300 largest energy companies in the world (by market cap). The TTM revenue does not coincide with the company’s fiscal year end and instead includes the company’s performance data of the past 12 months. They divided the revenues by the 31.5 million seconds that make up a year to see which companies earned the most.
Surprisingly the energy company with the biggest market cap, by a lot, ended up earning the third most revenue per second. Not that the $10,418 that Saudi Aramco earned every second is anything to sneeze at. The two energy companies that beat it out were both from China and both earned over eleven thousand every second. PetroChina came in at number one with an incredible $11,888 of revenue earned for every second in 2021.
The team also included further information on PetroChina, like that in 2021 their profits have risen nearly fivefold and their net income increased 395%. PetroChina is currently listed as having the sixth highest market cap, we’ll have to see if the drastic increase in profits over the past year bumps up their ranking.