Brazilian major Petrobras (NYSE:PBR) has taken a step up to third place in the PFC Energy 50. The ranking came out this week, listing the biggest energy companies in the world based on capital value. Petrobras ended December 2010 at US $228.9 billion, relegating Shell (NYSE:RDS-A) (NYSE:RDS-B) and Chevron (NYSE:CVX) to fourth and fifth places.
Super-major ExxonMobil (NYSE:XOM) holds the top position, followed by Chinese NOC PetroChina (NYSE:PTR).
Consultants PFC Energy highlighted Petrobras’ continuous rise from 27th place in the first ranking, published in 1999, to third place in little more than a decade. According to PFC Energy, the company’s market cap has grown from US$ 13.5 billion in 1999 at a stunning compound annual rate of 27%. They also pointed out that the in the share price was more than offset by a $67 billion new offering.
PFC Energy publishes an annual Top 50 ranking of the biggest publicly-traded energy companies, based mainly on capital market performance.