Brazil's Petrobras Overtakes Shell to Become World's 4th Largest Energy Company.
Brazilian state-controlled oil and gas multinational Petrobras has risen from the ninth to the fourth place in the ranking of the 50 main energy companies in the world, according to a study by consultancy company PFC Energy. In a press statement disclosed by the Brazilian company, the organisation informed that the calculation took into account the market value of companies in December of last year.
According to PFC Energy, throughout 2009, Petrobras shares rose 103%, a level much higher than that reached by the top three in the list (PetroChina, Exxon and BHP Billiton).
The consultancy company also pointed out the rapid growth of Petrobras, which climbed from the 23rd to the fourth position in the ranking in just eight years. In this period, the company's market value rose from US$ 96.8 billion to US$ 199.2 billion, according to the company.
The Brazilian state-owned company overtook companies like Shell, BP, Sinopec, Chevron, Total and Gasprom, which, in that order, are also among the ten main energy companies in the world.
PFC Energy is an energy consultancy company that has been operating alongside companies and governments for over 20 years. The organization publishes the ranking of 50 main listed energy companies - using as the main criteria their performance on capital markets.
Established in 1984, PFC Energy has offices in Washington, Paris, Houston, Bahrain, Lausanne, Kuala Lumpur and Buenos Aires.