(First published in www.emeconomy.com) The market capitalization of the top 10 GCC oil, gas and petroleum companies reached some US$71 billion as of April 30, according to estimates provided by Dr. Gil Feiler, a regional financial expert. According to his findings, the biggest firm in the sector SABIC (Saudi Arabia) controls 56% of the total market cap with US$39.8 billion. Industries Qatar is ranked second with a market capitalization of US$13.1 billion.
Since the outset of 2009 until the end of 2009, six out of the Top 10 companies in the sector registered increases in their stock values. However, the two leading companies posted declines – SABIC's value dropped by 3.7% while Industries Qatar's value fell by 18.3%.
The biggest hike was posted by Kuwait's Boubyan – 37% while Saharah Petro of Saudi Arabia climbed by 36.5%. The Abu Dhabi-based Dana Gas registered an increase of 35.6%.
According to Dr. Feiler, in 2008 the highest dividend yield was achieved by Safco of Saudi Arabia (11.7%). Industries Qatar reported a dividend yield of 9.3% and SABIC reported 6%.
Meanwhile, Dr. Feiler said that the total market capitalization of the GCC bourses amounted to US$562 billion as of April 30. The average dividend yield amounted to 4.4% and P/E ration came to 9.
