The fracking revolution could open the way for the U.S. to overtake Saudi Arabia as the world's number one oil producer, energy research provider Platts said in a report on Tuesday.
"Another clear theme this year remains the dramatic upheaval, and for most, growth, that the American shale-led boom continues to thrust on energy players," said analysts Robert Perkins and Henry Edwardes-Evans in Platts' annual report on the world's top 250 energy companies.
Pump jacks and wells on the Monterey Shale formation in California
David McNew / Stringer | Getty Images News
Pump jacks and wells on the Monterey Shale formation in California
Extracting oil and gas from shale rock through hydraulic fracturing has transformed the U.S. energy industry, and the U.S. Energy Information Administration sees the country's shale oil production hitting 9.6 million barrels per day by 2019.
Fracking helped the U.S. to post the largest increase in oil production of any country in 2013, according to Platts. U.S. oil output jumping by over 1 million barrels per day, the largest annual increment in the country's history.
"The fracking revolution in the U.S. looks set to topple Saudi Arabia as the world's number one oil producer," wrote Perkins and Edwardes-Evans.
"The U.S. oil supply estimate excludes biofuels, which, when added to the total, are widely believed to place the U.S. as the world's biggest liquids producer above Saudi Arabia and Russia."
Read More › Why OPEC's losing its ability to set oil prices
The world's biggest energy producers
ChinaFotoPress| ChinaFotoPress | Getty Images
U.S. companies filled 103 of the 250 top spots in Platts' energy firm ratings, which ranked companies by assets, revenues, profits and return on invested capital.
ExxonMobil retains pole position for the 10th year running, with its industry-leading return on capital holding off rivals. The Dow-listed supermajor entered the shale gas market in 2010 with its acquisition of XTO Energy.
BP was back in the top 10 in second place, as it slowly recovers from the massive hit from payouts for the 2010 Gulf of Mexico oil spill. Platts warned that BP's ratings bounce could prove brief, given the looming court battle to settle remaining liabilities in 2015.
Read More › BP raises dividend despite oil price drop, Russia
Another ratings climber was Rosneft, which climbed three positions to sixth place. This follows the Russian giant's $55 billion acquisition of TNK-BP, which puts it ahead of ExxonMobil in terms of production and reserves, but still behind in revenues, profits, assets and return on capital.
View more: This expert says plunging oil prices are problematic
View more: Oil companies on the rise: Pro
Katy Barnato
Associate Producer, CNBC.com
Related Securities
Symbol
Price
Change
%Change
XOM 94.55
0.84 0.90%
BP. 434.75
4.50 1.05%
ROSN1 230.00
2.10 0.92%
DJIA 16864.99
47.05 0.28%
MORE FROM CNBC
Recommended by
Oil near $86 on strong supply, NY Ebola case
Welcome to the low rates era, pro says
U.S. oil export battle heats up as drillers group to fight ban
Former Russian oil king Gunvor seeks to divest from the country
Strauss-Kahn’s business partner dies in suicide
Should you tip for takeout food orders? A debate
SPONSORED
Recommended by
16% of U.S. teens said they would pay $350 for an 'iWatch'
16% of U.S. teens said they would pay $350 for an 'iWatch'
(Fortune)
Colorado TV News Slams Fox’s Megyn Kelly for Lying About Voter Fraud
Colorado TV News Slams Fox’s Megyn Kelly for Lying About Voter Fraud
(Blue Nation Review)
5 States (And One City) Ready to Legalize Marijuana
5 States (And One City) Ready to Legalize Marijuana
(Politics Cheat Sheet)
16% of U.S. teens said they would pay $350 for an 'iWatch'
Colorado TV News Slams Fox’s Megyn Kelly for Lying About Voter Fraud
5 States (And One City) Ready to Legalize Marijuana
.
MORE FROM CNBC
Recommended by
Russia's Putin accuses US of damaging world order
P&G to split off Duracell battery business
Kudlow: Here's what Obama doesn't see coming
Zuckerberg speaks Chinese, Beijing students cheer
Toyota holds the top in global vehicle sales
Low oil prices threaten Norway's Arctic, UK's mature fields
Unsafe water only adds to California drought misery
NYC doctor tested for Ebola; girlfriend quarantined
Central bankers back stress tests as criticism swirls
Fed-driven 'Locomotive USA'
SPONSORED
Recommended by
Not Having One Of These Credit Cards in 2014 May Be a Huge Mistake
Not Having One Of These Credit Cards in 2014 May Be a…
(NextAdvisor Daily)
What Bill Gross’s Pimco Departure Means for Your 401(k)
What Bill Gross’s Pimco Departure Means for Your 401(k)
(Money)
A Brilliant Way to Pay Off Your Mortgage
A Brilliant Way to Pay Off Your Mortgage
(LendingTree)
10 Best Credit Cards With Amazing Benefits
10 Best Credit Cards With Amazing Benefits
(GET.com)
Not Having One Of These Credit Cards in 2014 May Be a Huge Mistake
What Bill Gross’s Pimco Departure Means for Your 401(k)
A Brilliant Way to Pay Off Your Mortgage
10 Best Credit Cards With Amazing Benefits
Energy Future
Pump jacks and wells on the Monterey Shale formation in California
Could shale help US beat Saudi Arabia?
Fracking could open the way for the U.S. to overtake Saudi Arabia as the world's top oil producer, Platts said in a report on Tuesday.
EU agrees target to cut gas emissions
The EU has agreed a landmark target to cut greenhouse gas emissions, the FT reports.
These companies are the greenest in the world
Which companies are being recognized for their green credentials, according to a new index.
The world's biggest energy producers
Society is dependent on a reliable energy supply. We take a look at the world's biggest producers of crude oil, nuclear and hydro.
Latest Special Reports ›
Sectornomics
Inside the market's biggest sectors with a look at the trends, companies and trades netting profits for investors.
Change the World
Profiles of philanthropists and entrepreneurs who are addressing huge global challenges—from climate change to hunger.
Family Business, Private Wealth
From family-run companies to public companies with family ownership, we tackle challenges and rewards facing family businesses.
Top News & Analysis ›
Billionaire oilman: I'm not cutting production yet
Consumer confidence blows past expectations in Oct
In some states, cheap oil isn't such a good thing
This 'stock's going higher,' says Cramer
Nevermind Alibaba, this explains Yahoo's rally
