24 Sep 2018 11:39

Gazprom drops from 1st to 17th place in S&P Global Platts index, Lukoil climbs to 2nd from 6th

MOSCOW. Sept 24 (Interfax) - Gazprom fell to 17th place in the 2018 S&P Global Platts Top 250 Global Energy Company Rankings 2018, down from 1st place in the 2017 rankings.

The rankings measure companies' financial performance using four key metrics: asset worth, revenues, profits, and return on invested capital.

The first place ranking (up from 3rd in 2016) had been a source of great pride for Gazprom. The Russian gas giant featured information about the ranking on its website and top management nearly always began public appearances with reference to the company's number one ranking. Indeed, the achievement became part of Gazprom's branding for its 25th anniversary as a public corporation: "Gazprom. N1. 25 years."

Another Russian company, oil major Lukoil , rose from 6th to 2nd place in the 2018 rankings.

"ExxonMobil reclaims the top spot in this year's S&P Global Platts Top 250 Global Energy Company Rankings, amid a rebound in oil prices and hopes of a US LNG export boom," S&P Global Platts said.

Transneft fell to 30th place from 14th, while Surgutneftegas jumped to 35th place from 165th.

The Top 250 Global Energy Company Rankings was first published in 2002.