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Thesis & Antithesis

A critical perspective on energy, international politics & current affairs

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Location: Washington, D.C.

greekdefaultwatch@gmail.com Natural gas consultant by day, blogger on the Greek economy by night. Trained as an economist and political scientist. I believe in common sense and in data, and my aim is to offer insight written in language that is clear and convincing.

10 June 2006

Very big oil

The Financial Times just published its list of the world’s 500 largest corporations by market capitalization. Thirty-seven oil and gas companies made it onto the list with a total market capitalization of $2.5 trillion, which amounts to 11.2% of the total for the world’s largest 500 (Banking was the top sector with 80 companies, and 3.9 trillion market capitalization). In the top fifty were eight oil and gas companies:

1- ExxonMobil ($371 bn)
5- British Petroleum ($233 bn)
7- Royal Dutch Shell ($211 bn)
10- Gazprom ($196 bn)
17- Total ($162 bn)
27- Chevron ($129 bn)
34- ENI ($113 bn)
48- Petrobras ($91 bn)

Notable is that only two companies are American--Exxon Mobil and Chevron (the next American oil and gas company is ConocoPhillips, which ranked 53rd). Notable too is the presence of Gazprom, which last year ranked 58th and jumped up to 10th place this year; a great increase in ranking was in store for Petrobras too, which increased from 113th last year to 48th now.

Needless to say that this list includes only publicly traded companies; in the oil and gas sector, these are miniscule compared to the giant National Oil Companies of the Middle East, whose reserves alone would boost them beyond any company in this list.



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