Posted March 09, 2018 08:11:16It’s a question that has been asked repeatedly by the world of energy and mining in recent years.
But where does the world come up with the biggest oil and gas company?
It’s not a simple one.
The question is answered by a company called Energy Corporation of Australia Limited, or ECA.
It’s the second biggest oil producer in the world, after Saudi Aramco.
Its annual revenue is about $2.8 trillion and its net worth is around $1.3 trillion.
It also has a significant stake in the coal industry, where it has invested heavily in the production of gas.
It has been one of the biggest players in Australia’s coal sector since the late 1970s.
But in recent decades, it has seen its share of the market shrink.
That’s partly because of the collapse in oil prices, and partly because the price of natural gas has fallen.
In the mid-1990s, the ECA had about 30 per cent of the country’s gas.
Today it’s about 9 per cent.
Its share of total coal production is now about 1.6 per cent, according to the Bureau of Resources and Energy Economics.
That is down from nearly 3 per cent in the mid 1990s, and about 12 per cent a decade ago.
But the company still holds a significant share of Australia’s natural gas.
In 2014, ECA owned more than 60 per cent shares of coal producers, which made up nearly 50 per cent share of coal production in Australia.
It has a strong presence in the gas sector, too, with a 25 per cent stake in Australian Gas, which is the largest gas producer in Australia, with an annual turnover of $2 billion.
But its coal holdings have been declining for a number of years.
Since 2015, EAC has lost almost $100 million a year on coal investments.
ECA has also seen its shares fall from a peak of $18.4 billion in 2011 to $13.7 billion in 2018.
It lost $9.4 million a day on coal last year, down from $14.7 million in 2015.
Its coal holdings dropped from $2,400 million in 2011.
That drop has been largely due to the closure of two major coal mines in Victoria, which resulted in the closure and shutdown of the Gully Creek coal mine and the Hunter Valley coal project.
In a statement, EDA said the decline in its coal business was partly due to coal prices dropping.
It said coal was a more cost-effective source of electricity than gas and gas was an increasingly competitive energy source.
“It was a time when natural gas prices were lower than today and we needed to invest in new coal mines to deliver a better return on our investments,” the company said.
But it said the downturn in coal prices also meant the company’s share of gas was down to about 1 per cent from 2 per cent two years ago.
And it said that coal’s share in gas production had fallen by about 2 per-cent a year in the past decade, from nearly 4 per cent to 2 per, per cent last year.
The company has not said when it expects its coal to be profitable.
But ECA’s latest annual report shows the company is expected to make a loss of $100.9 million on its coal investment, or $1,000 per share.
Its net profit for the year was $941 million, which was $17.7 per share, and it is expected the company will also lose money on its gas investments.
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