Petroleum Intelligence Weekly just released its annual ranking of the world's top oil companies, based on criteria such as reserves, refining capacity and sales. Several interesting findings emerge:
- Four of the top five top oil companies are now state-owned: Saudi Aramco, Iran's NIOC, Venezuela's PDV, and China's CNPC
- Saudi Aramco remains No.1, and China's CNPC has surpassed BP and Shell
- Russia's Rosneft makes the biggest jump, from 24th to 16th
- Majority state-owned national companies now make up 27 of 50
- Three new firms moved into the top 50: Uzbekneftegas, China's CNOOC, and Kazmunaigas of Kazakhstan - all majority state-owned