Company Tops PIW Rankings - Again
- Pipeline
- Saudi Aramco News
- Dhahran Media
Login to leave ratings
Author: Saudi Aramco News
Released 19 December 2007
DHAHRAN, December 17, 2007 -- For the 19th year in a row, Saudi Aramco has been named the No. 1 oil company in the world by Petroleum Intelligence Weekly (PIW).
The Saudi Arabian national oil company leads the world both in reserves and production of liquids, two of six criteria in the rankings.
Saudi Aramco oil production facilities in Hawtah, Central Saudi Arabi.
The most significant change came with ConocoPhillips’ leap into the top 10 ahead of Chevron and Total, with a $36 billion takeover of Burlington Resources.
In other changes, Mexico’s Pemex dropped out of the top tier for the first time, and the National Iranian Oil Co. (NIOC) replaced ExxonMobil at No. 2, behind Saudi Aramco.
Pemex’s decline was seen as a reflection of stagnant performance, as was Petroleos de Venezuela’s fall to fifth place.
In general, PIW said, companies that moved upward benefited from higher oil prices, rather than through consolidation, as was the trend in earlier years.
In Russia, Gazprom moved up three places to 12th from acquisition of assets from Yukos and other private sector firms.
The current rankings are based on operational results for 2006, which are the latest annual data available for such a large group of firms.