News // Markets & Stocks
Russia's Gazprom topples US ExxonMobil as the world's leading energy company
26 September 2017 , 10:11Neftegaz.RU923
Russian oil giant Gazprom on September 25, 2017, has replaced ExxonMobil at the summit of S&P Global Platts’ top 250 global energy company rankings.
Among this year’s biggest movers were Germany’s E.ON, which climbed 112 places to 2nd spot.
British utility Centrica is now 15th, up from 156th.
India’s Reliance Industries rose to 3rd place from last year’s 8th while France’s Total climbed two slots to 10th, returning to the top 10 after a 2 -year absence.
S&P Global Platts said Reliance and Total had demonstrated the power of pipelines.
Both firms have been making investments in the US that benefit from increasing supplies of natural gas and the new pipeline infrastructure that is being built to carry those resources to the Gulf Coast for regional use and for exports to overseas hubs.
Harry Weber, senior natural gas writer of S&P Global Platts, said: «European utilities and North American pipeline operators got a boost from sticking to what they know best and shying away from more risky enterprises and territories. Regulated utilities, in particular, have an advantage because their revenues are largely defined and consistent, and are not as susceptible to swings in oil and gas prices.»
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