TLE article on the President’s Page on the Future of our Industry

 We are working in the largest industry in the world by revenue and market capitalization.  The top 4 oil and gas companies ExxonMobil, Shell, Chevron and BP have a market capitalization of about $1 trillion and annual revenues in the same range.  Yet these 4 companies represent only 18% of the total market, with the rest of 82% distributed among many National Oil Companies (NOC) like Saudi Aramco, Petronas, Petrobras, Pemex, Statoil, Sonangol, Ecopetrol, etc.  The initial public offering (IPO) of Saudi Aramco in 2018 will create a company with a market capitalization in the $1-2 trillion range, the largest IPO in history, making Silicon Valley unicorns look like tiny blips in the market.  This enormous value and value creation industry will not disappear overnight and be replaced by renewables and electric cars, as the media would like you to think.

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