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Azerbaijanâ€™s SOCAR ranks among Top-50 Oil Giants

18 March 2009 14:15 (UTC +04:00)

Baku. Rashad Suleymanov â€“ APA-Economics. Petroleum Intelligence Weekly has published its annual ranking of the world’s 50 largest oil companies, a perennial benchmark survey recognized industry-wide as the leading source of comparative performance assessments on all the world’s oil companies.
The Ranking is based on operational data from over 130 firms. The focus on operations allows meaningful comparisons of all types of companies -- including state-owned firms -- and thus differs from more financially oriented corporate rankings.
Firms are compared in six different operational areas, with companies assigned a separate rank within each category. The six individual ranks are then added together to determine the cumulative, overall position, giving each of the six criteria an equal weighting.
According to rankings, 27 of 50 companies are state-owned.
Saudi Aramco maintains its hold on the top spot, followed by NIOC, Exxon Mobil, PDV, CNPC, BP, Shell, ConocoPhillips, Chevron and Total.
Russiaâ€™s Gazprom comes 13th, LUKoil 18th, Uzbekneftegaz 34th State Oil Company of Azerbaijan (SOCAR) 36th and Kazmunaigas rounds out the list.