A newly compiled list of the world's largest energy companies indicates that investors are buying into the growth potential of nationally run oil companies at the expense of independent integrated players who have long been the gems of the sector.
The PFC Energy 50 lists the world's 50 largest energy companies based on their market capitalization on their home exchange. It's tallied annually by the private energy consultancy bearing the same name, and it's used to analyze major trends in the energy space.
According to the latest version, PetroChina (PTR Quote), a major integrated nationally run oil company in China, grew 181% in 2007, overtaking Exxon Mobil(XOM Quote) to become the world's largest energy firm. PetroChina had previously held the third spot on the PFC 50. ...
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