Main Operators

With a market capitalisation of over $1 trillion, the energy industry is the largest and most powerful industry in the world. It is also one of the most dynamic and multi-faceted industries, with a wide array of players. Despite the heterogeneity of this industry, it is possible to identify four unique 'breeds' of energy companies that have broadly similar characteristics and functions:

• Integrated Oil Companies (IOCs)
• Independents
• Utilities and Energy Service Providers (ESPs)
• Traders

In most cases, there is a direct correlation between size and scope. In other words, the bigger the company is, the wider its scope is likely to be. There is also a direct relations between the company's size and its stake in the global energy market. Hence, integrated oil companies command a relatively large share of the international energy market. The table below provides a visual illustration of how IOCs dominate the other three groups based on both the size and scope of operations.