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Oil: The Commodity We Love to Hate
WHERE ARE THE ENERGY-CENTRIC MARKETS?
Top 100 companies—Lion’s share located in the US
Prior to the recent collapse in oil prices, increased profitability encouraged an oil-drilling fest in the U.S., particularly shale
drilling in areas such as Texas and North Dakota. This resulted in a more energy independent country set to surpass Saudi
Arabia as the top country producer globally. By the end of 2015, the outright largest global oil production company was
Saudi Aramco, followed by Gazprom and National Iranian Oil. Of the top 100 global energy companies, 39 firms are
headquartered in the U.S. Of these, 10 are in Houston, including Phillip 66, ConocoPhillips, and Enterprise Products
Partners. Outside the U.S., Moscow, London, Beijing, Singapore, Mumbai, Kuala Lumpur, Jakarta, Perth, Caracas, Bogotá,
and Rio de Janeiro are other examples of global cities that are centers for oil company headquarters.
Two city subcategories—Energy-dependent and corporate hubs
Our select group of energy-centric cities — which are home to listed and/or state-owned energy company
headquarters — can be divided into two subcategories: energy-dependent cities and corporate hub
cities. The energy-dependent cities in our study are very reliant on the oil and gas industry to drive
their economies and property sectors, as determined by the contribution of energy-related sectors
to the broader local economy. Example cities include Aberdeen, Houston, Calgary, Caracas, Dalian,
and Perth. Corporate hub cities, which are favored locations for energy company headquarters, are
noticeably less reliant on the oil sector. In our study, these cities include Denver, London, Mexico
City, Beijing, and Singapore.
GLOBAL OVERVIEW
ENERGY-DEPENDENT CITIES/CORPORATE HUB CITIES
City Level Energy GDP Quotient (2015)
Note 1: Energy includes mining, quarrying and utilities
Note 2: The city level quotient evaluates city energy GDP to national norms, according
to the following calculation: (City energy GDP/City total GDP) / (Country energy GDP/
Country total GDP)
Source: Oxford Economics, National Bureau of Statistics (China), Office for National
Statistics (UK), Cushman & Wakefield Research
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Aberdeen
Houston
Tulsa
Caracas
Dalian
North Dakota
Oklahoma City
Tianjin
Perth
Calgary
New Orleans
St. John's
Dallas/Fort Worth
Edmonton
Denver
Pittsburgh
Mumbai
San Antonio
Shanghai
Rio de Janeiro
Singapore
Sao Paulo
Guangzhou
Xi'an
Bogata
London
Beijing
Rotterdam
Mexico City
Shenzhen
Moscow
Shenyang
Oslo
Kuala Lumpur
Jakarta
Energy GDP Quotient
Energy Dependent Cities
Corporate Hub Cities