News: Top 50 of World’s Energy Companies Led by Six Nationals

January 24, 2008 | Filed Under petroleum

“PFC Energy Wednesday, January 23, 2008

Three years ago, the top six names on the PFC Energy 50 ranking of the world’s largest oil & gas industry companies were ExxonMobil, BP, Royal Dutch Shell, Total, Chevron and Eni. This year’s top six include Petrochina, Gazprom, Sinopec and Petrobras, National Oil Companies (NOCs), whose shares are traded on public markets, but which are majority-owned by the governments of China, Russia and Brazil. The preeminent positions of these NOCs on the PFC Energy 50 list reflect a profound change in the global energy industry. With some 65% of oil and gas reserves off-limits to International Oil Companies (IOCs), the majors are finding it increasingly difficult to deliver growth in reserves and production, while the NOCs offer more convincing growth prospects. …”