Brazil’s Petrobras world’s 14th biggest oil company

30 December 2005

Sao Paulo, Brazil, 30 Dec – Brazilian state-controlled energy company Petrobras has climbed a place in the ranking of oil companies to become the world’s fourteenth most valuable firm, according to the latest edition of Petroleum Intelligence Weekly (PIW).

The online edition of Folha de Sao Paulo, only rating companies quoted on the local stock exchange, rates Petrobras as the world’s eighth most valuable oil firm.

In terms of oil production, Petrobras lies in 16th spot with a daily output of 1.6 million barrels. The Brazilian company is in 33rd position for its gas reserves and in 23rd place based on production of natural gas, says PIW.

After losing ground in recent years to privately owned firms, state oil companies are making a comeback on the world’s energy stage, notes PIW, highlighting the performance of Petrobras, PetroChina, ONGC (India) and Petronas (Malaysia). (macauhub)