National Oil Companies Strengthen Their Hold in Annual Survey

• Saudi Aramco remains No. 1, and China's CNPC surpasses BP and Shell
  
  
• Russia's Rosneft makes biggest jump, from 24th to 16th
  
  
• Majority state-owned national oil companies now make up 27 of 50
  
  

Petroleum Intelligence Weekly this week published its annual ranking of the world's 50 largest oil companies, a benchmark survey now in its 20th year that is recognized industry-wide as the leading source of comparative performance assessments on all the world's oil companies. The main trend in the latest survey is the greater predominance of national oil companies, and particularly the substantial gains by Chinese and Russian companies.

The PIW Top 50 rankings are based on six operational criteria that allow the comparison of private sector and state-owned oil companies. This year's rankings are based on operational data for 2007, the most recent period data available for such a wide group of firms.

In contrast to national oil companies, the major oil companies and other private sector firms generally lost ground, especially in the top tiers. In contrast to other super majors, Exxon Mobil held on to its number three position. A comparison with results from 10 years ago shows that the top major oil companies, as a group, now account for a smaller global share of the six ranking criteria than they did prior to the mega-mergers that created them.

Other key findings from the PIW Top 50:

• Saudi Aramco maintains its hold on the top spot, the result of significant ongoing investment in both upstream and downstream oil and gas operations.
  
  
• Three new firms moved into the PIW Top 50 -- Uzbekneftegas, China's CNOOC and Kazmunaigas of Kazakhstan -- all majority state-owned.
  
  

The Top 50 is the precursor to the more comprehensive Energy Intelligence Top 100: Ranking The World's Oil Companies, to be published in December 2009.

To view the PIW Top 50 rankings, please visit our website at http://www.energyintel.com/DocumentDetail.asp?document_id=245527.

Notes to Editors:

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