Gazprom unseats ExxonMobil as world's largest energy company

Rodiano Bonacci
Settembre 26, 2017

Coal India Ltd, the world's largest coal producer, was the only Indian company to have slipped in the ranking this year - to 45 from 38 in 2016. In the 2016 rankings, India Oil Corp took the big leap from No 66 in 2015 to No 14.

State-owned Indian Oil Corp (IOC) broke into the top 10 club, climbing to 7th position in the 2017 ranking, up from 14th rank in 2016. Refiners continued to strengthen their standings in the 2017 roster, buoyed by improved margins.

Mukesh Ambani-led Reliance Industries Ltd has jumped five places to rank as the world's third-biggest energy company behind Russian gas giant Gazprom and German utility E.ON, according to Platts Top 250 global energy company rankings released on Monday.

The world's top ten largest companies earned $63.7 billion last year, 14 percent lower than the $74.3 billion posted the year before.

Russian Federation gas monopoly Gazprom snagged the number one spot, ending U.S. oil and gas giant ExxonMobil's 12-year reign at the top of the list, the results of the 2017 S&P Global Platts Top 250 Global Energy Company Rankings showed on September 25. The Top 250 profit figures are adjusted for preferred dividends and exclude discontinued operations and extraordinary operations. Not surprisingly, both sectors rely on each other for supply and demand.

Russia's Gazprom bagged the number 1 spot, ending USA oil and gas giant ExxonMobil's 12-year reign at the top of the list. S&P Global Platts considers four metrics: asset worth, revenue, profit and return on invested capital.

"In an environment like we have had this past year, those companies such as ExxonMobil and Chevron who are exposed to the commodity price environment, you would expect them to fall behind versus those companies that have a government license to make a profit", he said.

Valero Energy at no.8, Exxon at no.9, and France's Total at no.10. Germany's E.ON shooting up 112 places to No. 2 from No. 114 for past year is something that reveals the broader trend for utilities making further inroads due to stable cash flows and strong returns on invested capital.

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