Order a report
Custom-made industry research, company ratings, competitor analysis
Total liquidity ratio of oil and gas companies
Information agency Credinform prepared a ranking of total (current) liquidity ratio for oil and gas companies. The ranking list includes industry’s largest Russian companies with mentioned activity type and is based on turnover as stated in the Statistics register, with the reference period of 2012. The selected companies were ranked first in terms of turnover, then the total liquidity ratio.
Total liquidity ratio is calculated as the ratio of current assets to current liabilities of the company. This reflects the company's ability to put out its short-term liabilities from current assets only. In Russian practice a normal range of 2 to 3 is considered.
| № | Name, INN | Region | Total (current) liquidity ratio, % | Turnover 2012, bln. RUB. | Solvency index GLOBAS-i® |
|---|---|---|---|---|---|
| 1 | SURGUTNEFTEGAS OJSC, INN 8602060555 | Khanty-Mansijsk Autonomous District | 7,91 | 815,57 | 155 (top) |
| 2 | Tatneft imeni V.D.Shashina, INN 1644003838 | Republic of Tatarstan | 5,63 | 344,56 | 143 (top) |
| 3 | Rosneft Oil Company, INN 7706107510 | Moscow | 4,36 | 2595,67 | 158 (top) |
| 4 | LLC LUKOIL-Komi, INN 1106014140 | Komi Republic | 3,38 | 279,88 | 202 (high) |
| 5 | OJSC Orenburgneft, INN 5612002469 | Orenburg region | 2,25 | 218,52 | 236 (high) |
| 6 | RAO GAZPROM, INN 7736050003 | Moscow | 2,21 | 3659,15 | 136 (top) |
| 7 | PJSC SPS Bashneft, INN 0274051582 | Republic of Bashkortostan | 1,86 | 489,21 | 206 (high) |
| 8 | LUKOIL-West Siberia Limited, INN 8608048498 | Khanty-Mansijsk Autonomous District | 1,64 | 645,72 | 190 (top) |
| 9 | JSC Gazprom Neft, INN 5504036333 | St. Petersburg | 1,42 | 905,51 | 234 (high) |
| 10 | JSC Samotlorneftegaz, INN 8603089934 | Khanty-Mansijsk Autonomous District | 1,32 | 217,41 | 218 (high) |
The role of the oil and gas sector in the economy remains high. Thus, according to the data of the Ministry of Energy, the share of oil revenues in the national budget in 2012 was 50 %, while the contribution to GDP was about 1/3, and in exports - about 2/3.
The top three is represented by the following companies: SURGUTNEFTEGAS OJSC with total liquidity ratio of 7.91 %, Tatneft imeni V.D.Shashina (5.63 %) and Rosneft Oil Company (4.36 %). All three companies have total liquidity ratio exceeding the standard values, which may indicate the unsustainable capital structure. But at the same time, according to the year-end 2012, these companies have demonstrated excellent financial results, and the three leaders got the highest solvency index GLOBAS -i ®, which characterizes them as financially stable.
Total liquidity ratio of the largest in terms of turnover oil and gas companies. Top-10
Only two companies can boast of overall liquidity ratios in the terms of standard: OJSC Orenburgneft (the value is 2.25 %) and industry leader in terms of 2012 turnover - RAO GAZPROM (2.21 %). Companies were assigned the high index and the highest solvency index GLOBAS -i ®.
The companies PJSC SPS Bashneft, LUKOIL-West Siberia, JSC Gazprom Neft and JSC Samotlorneftegaz have the value slightly less than the norm, but higher than zero, that is why it is nothing to speak of the high financial risk. All four companies were assigned a high index and the highest solvency index GLOBAS -i ®, which is also characterized their ability to repay the debts timely and fully.
In international practice, the standard values for total liquidity ratio slightly deviate from Russian ones. Depending on the industry, the normal value of the index is from 1.5 to 2.5. The Top-10 oil companies in terms of 2012 turnover in the world, ranked by the current liquidity ratio are below.
| № | Name | Country | Total (current) liquidity ratio, % | Turnover 2012, bln. RUB. |
|---|---|---|---|---|
| 1 | RAO GAZPROM | Russia | 2,21 | 3 659 |
| 2 | PETROLEO BRASILEIRO S.A. | Brazil | 1,7 | 4 183 |
| 3 | ENI SPA | Italy | 1,43 | 5 160 |
| 4 | TOTAL S.A. | France | 1,38 | 7 310 |
| 5 | ROYAL DUTCH SHELL PLC | Germany | 1,18 | 14 194 |
| 6 | JX HOLDINGS, INC. | Japan | 1,13 | 3 619 |
| 7 | STATOIL ASA | Norway | 1,12 | 3 935 |
| 8 | PETROLEOS DE VENEZUELA S A | Venezuela | 1,05 | 3 780 |
| 9 | PETROCHINA COMPANY LIMITED | China | 0,72 | 10 611 |
| 10 | SAUDI ARABIAN OIL COMPANY (ARAMCO) | Saudi Arabia | no data | 9 719 |
It should be noted the Russian leader, RAO GAZPROM, is also included in the world Top-10. Moreover, the domestic manufacturer tops the list, having the maximum value of the total liquidity ratio among the represented companies, satisfying both domestic and international regulations. Gazprom also holds the ninth place in terms of turnover among the largest oil and gas companies in the world by the end of 2012.
Brazilian company PETROLEO BRASILEIRO SA with the current ratio of 1.7% and Italian company ENI SPA with 1.43 %, which is slightly smaller than the existing international standards, are also included in top three of the list. Both companies are ahead of Gazprom in terms of turnover, ranking 6th and 5th positions in the world respectively.
Rosneft Oil Company is on the 11th place in terms of turnover. However, due to the purchase of TNK-BP in 2012, the company's position may change. As a result of this transaction, Rosneft has become the largest company in the world in terms of oil extraction.