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Where does China Petroleum rank in the world?
A new list of the world's top 50 oil companies has been released.

China petroleum ranks seventh.

65438+February 20, 2007

08: 13:47

Source: Economic Information Daily

The US Petroleum Intelligence Weekly (hereinafter referred to as "PIW") recently released the comprehensive ranking of the world's top 50 oil companies in 2006, and China Petroleum and Natural Gas Group Corporation (hereinafter referred to as "China Petroleum") ranked seventh.

This is the second consecutive year that Petroleum Intelligence Weekly publishes this ranking, and the magazine will publish the ranking of the previous year at the end of each year. The crude oil and natural gas reserves of the top 50 oil companies account for 85% and 63% of the global total reserves respectively.

It accounts for 80% and 70% of global production respectively.

In the latest ranking, Saudi Arabian National Oil Company continues to top the list; China ranks 9th among the world oil companies in terms of crude oil reserves, natural gas reserves, crude oil production, refining capacity, oil sales and comprehensive ranking. China Petrochemical Co., Ltd. dropped 1 place, ranking 29th.

Compared with 2005, there were some new changes in the ranking of the top 50 oil companies in the world in 2006.

First of all, major changes have taken place in the top 10 oil companies in the world. Iran's national oil company ranks second, ahead of ExxonMobil, which is the first time that Iran's national oil company has surpassed ExxonMobil since 2000. ConocoPhillips ranks among the top ten oil companies in the world, rising from 1 1 in 2005 to the eighth place in 2006, surpassing Chevron and Total, mainly due to ConocoPhillips' acquisition of Burlington Resources in 2006 for $36 billion. Mexico's national oil company was squeezed out of the top ten oil companies in the world, ranking 1 1.

China Petroleum participated in the ranking this year, and China Petroleum and Natural Gas Co., Ltd. has been participating in the ranking for the past few years. In the latest ranking, the ranking of China Petroleum has not changed, and it continues to rank seventh. In addition to natural gas production and oil product sales, the ranking of crude oil reserves, natural gas reserves, crude oil production and refining capacity has all increased.

Secondly, the ranking of national oil companies continues to rise, and oil companies in Russia and the Middle East are eye-catching. Among the 26 national oil companies that have entered the world's top 50 oil companies, there are 12 national oil companies ranking up. Gazprom and Rosneft rose by three and two respectively. Qatar National Oil Company and Oman Petroleum Development Company rose by three places respectively, while Iran National Oil Company, Iraq National Oil Company and Abu Dhabi National Oil Company rose by 1 place respectively.

Third, mergers and acquisitions are still an important factor for oil companies to improve their rankings. Judging from the ranking changes in the past 10 years, most of the companies with a large increase in ranking are realized through large-scale asset mergers and acquisitions. The rankings of major international oil companies such as ExxonMobil, Chevron, ConocoPhillips, Total, and BP have increased significantly, mainly due to the wave of mergers and acquisitions of oil companies from 1998 to 200 1; In 2005 and 2006, the rankings of Gazprom and Rosneft were greatly improved, and ConocoPhillips of the United States entered the top ten oil companies in the world, mainly due to their large activities in M&A.

In 2007, Rosneft acquired Yukos. In addition, in 2007, Statoil completed the acquisition of oil and gas assets of Norwegian Hydraulic Company, and Gazprom also had some acquisition activities. These acquisitions will definitely have a significant impact on the ranking of major oil companies in the future.