Gazprom tops S&P Global Platts list to become world’s largest energy firm

Gazprom (MCX:GAZP) has been ranked number one in the 2017 S&P Global Platts Top 250 Global Energy Company Rankings, beating ExxonMobil to claim the title of the world’s largest energy firm.

The Russia-based company, which is the world’s largest producer of gas, topped the list which ranks the financial performances of companies using four key metrics: asset worth, revenues, profits, and return on invested capital.

The rise of Gazprom meant US oil and gas giant ExxonMobil has been knocked off its perch at the top, a position which it has held for 12 years. Exxon dropped down to ninth position in the latest rankings.

Beyond the two, Germany’s E.ON climbed an astounding 112 places to 2nd place from 114th, while India’s Reliance Industries took 3rd place, up from 8th last year.

The 4th and 5th places in the rankings were occupied by Korea Electric Power Corp and China National Petroleum Corporation (CNPC). The companies within the top 10 accumulated a total earnings sum of US$63.7 billion last year, a 14% drop on the $74.3 billion posted the year before.