Petrobras rose from the 11th to the sixth place in PFC Energy 50’s ranking, which lists the world’s biggest oil companies based on their market values at the end of 2007. The survey was published this Wednesday (01/23) by the Financial Times. The journal highlighted Petrobras and Petrochina, which surged in the 2007 ranking. Petrobras appears ahead of companies of the likes of BP and Total.
“Petrobras, the Brazilian company with two major discoveries to its name in the past few months, rose from 11th to sixth, with a 93% increase in its share price, surpassing Total, which fell to eighth place in the ranking, with a mere 4% increase in its stock price,” said the Financial Times.
According to PFC Energy, the ranking reflects the growth of oil companies that are connected to the State, such as Petrobras and Petrochina, since, by and large, they have more access to the world’s oil reserves.