For 12 years ExxonMobil has reigned as the world’s largest energy company. But according to S&P Global Platts 250 Global Energy Company’s latest ranking, Russian energy giant Gazprom has taken the top spot.
Headquartered in Moscow, Gazprom focuses primarily on natural gas exploration and trading. However they also have interests in geological exploration, production, transportation, storage, gas processing, gas sales, gas condensate, and the generation and marketing of heat and electrical based power. They have the largest reserves of natural gas in the world, in addition to being one of Russia’s top four oil producers.
Gazprom, though technically listed as a private company, is majority-owned by the Russian government.
The first five companies also include Germany’s E.ON (which climbed 112 places to come in second place), India’s Reliance Industries, Korea Electric Power, and the Chinese CNPC. ExxonMobil dropped to ninth place.
Harry Weber, a senior natural gas writer at S&P Global Platts said, “European utilities and North American pipeline operators got a boost from sticking to what they know best and shying away from more risky enterprises and territories.”
These ratings are determined based on every financial indicator a company can have. This includes value of assets, total revenue, net profits, and many others. Every company on the list has assets of more than [read more]