PetroChina is 1st Asian oil giant in top 5 list
Source: Xinhua |
November 3, 2011, Thursday
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Print Edition
Print Edition
CHINESE oil giant PetroChina came in fourth in a ranking of the world's top 250 energy companies unveiled yesterday, making it the first Asian company to join the top five.
The 2011 Platts Top 250 Global Energy Company Rankings was compiled based on the performance of the companies last year in terms of asset worth, revenues, profits and return on invested capital.
The assets of PetroChina have increased almost fivefold to US$255 billion in 2010 from US$52 billion 10 years ago, when the company was ranked 12th among world energy firms. Its revenues surged 7.5 times over the same period.
In the 2011 rankings by energy information provider Platts, ExxonMobil and Chevron held the first and second places. Gazprom of Russia was No. 3, and Total SA of France was in fifth spot.
Brazil's Petrobras, which used to be in the top five, fell to 12th while BP was No. 118, affected by the scandal in the Gulf of Mexico.
Larry Neal, president of Platts, said the rankings tell a decade-long growth story led largely by Asia-Pacific companies.
"Not only is the pace of Asia's energy consumption outstripping other regions, but Asian companies are increasingly moving beyond their domestic roots to become critical global energy players," he said.
Of the world's top 250, the Asia-Pacific has 70 firms.
Primary energy consumption in Asia-Pacific grew by 5.6 percent per annum over the last decade. The growth rate in China even surged to more than 10 percent last year.
Sinopec, another Chinese oil giant and leading refiner, was No. 8 this year.
The 2011 Platts Top 250 Global Energy Company Rankings was compiled based on the performance of the companies last year in terms of asset worth, revenues, profits and return on invested capital.
The assets of PetroChina have increased almost fivefold to US$255 billion in 2010 from US$52 billion 10 years ago, when the company was ranked 12th among world energy firms. Its revenues surged 7.5 times over the same period.
In the 2011 rankings by energy information provider Platts, ExxonMobil and Chevron held the first and second places. Gazprom of Russia was No. 3, and Total SA of France was in fifth spot.
Brazil's Petrobras, which used to be in the top five, fell to 12th while BP was No. 118, affected by the scandal in the Gulf of Mexico.
Larry Neal, president of Platts, said the rankings tell a decade-long growth story led largely by Asia-Pacific companies.
"Not only is the pace of Asia's energy consumption outstripping other regions, but Asian companies are increasingly moving beyond their domestic roots to become critical global energy players," he said.
Of the world's top 250, the Asia-Pacific has 70 firms.
Primary energy consumption in Asia-Pacific grew by 5.6 percent per annum over the last decade. The growth rate in China even surged to more than 10 percent last year.
Sinopec, another Chinese oil giant and leading refiner, was No. 8 this year.
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