PetroChina overtakes ExxonMobil in the 2010 Financial Times 'Global 500 list'

01 Jun 2010

1

Chinese state owned petroleum major PetroChina has become the world's most valuable company, after overtaking US oil major ExxonMobil in the Financial Times 'Global 500 List' 2010 of largest companies by market value.

With a market capitalisation of $329.3 billion, the Beijing-based PetroChina secured the top spot overtaking ExxonMobil's, market capitalisation of $316.230 billion-$13 billion less than PetroChina.

This marks the first time that a Chinese company has moved to the top of the Financial Times 14-year old ranking. Last year PetroChina ranked second.

The list had 162 companies from the US, 42 from Japan, 27 from the UK, 22 from China and 16 from India.

Among the top 10, six were from the US, and included Warren Buffet's Berkshire Hathaway. Three were were from China and one from Australia

Microsoft moved by 3 ranks but Apple gained the most by moving up 28 ranks, while China Mobile slipped 5 paces.

$ millions
Global rank 2010
Global rank 2009
Company
Sector
Market value
1
2
PetroChina Oil & gas
329259.7
2
1
Exxon Mobil Oil & gas
316230.8
3
6
Microsoft Computer software
256864.7
4
4
Industrial & Commercial Bank of China Banks
246419.8
5
33
Apple Technology hardware
213096.7
6
19
BHP Billiton Mining
209935.1
7
3
Wal-Mart Retail chain
209000.7
8
12
Berkshire Hathaway Nonlife insurance
200620.5
9
23
General Electric General industrials
194246.2
10
5
China Mobile
Mobile telecom
192998.6

A total of 16 Indian companies made to the FT list with the highest ranking taken by Reliance Industries at No 68 with a market value of $78 billion, followed by state-owned ONGC at 124th spot with a market value of $52 billion.

LN Mittal-owned ArcelorMittal moved up by 55 spots to be ranked at 81 with a market value of $68 billion

$ millions
Global rank 2010
Global rank 2009
Company
Sector
Market value
68
75
Reliance Industries
Oil & Gas
78,670.8
124
120
ONGC
Oil & Gas
52,334.3
184
138
NTPC
Electricity
38,017.8
218
483
Tata Consultancy
Computer software
34,039.3
225
330
Infosys
Computer software
33,394.9
256
372
State Bank
Banks
29,405.4
290
188
Bharti Airtel
Telecom
26,382.6
297
345
BHEL
Industrial engineering
26,010.1
330
-
ICICI Bank
Banks
23,656.7
338
-
SAIL
Steel & mining
23,165.9
340
-
Wipro
Computer software
23,110.3
352
362
ITC
Tobacco
22,380.0
363
-
Larsen & Toubro
Construction
21,765.7
400
-
HDFC Bank
Banks
19,703.5
463
-
Housing Development Finance
Financial services
17,349.0
499
-
Indian Oil
India Oil & gas
16,048.4
The total capitalisation of the top 500 companies increased from $15.6 trillion to $23.5 trillion, up by 50.6 per cent, which is the greatest increase since the past 10 years said the Financial Tines, showing that the global economy is well on its way to recovery after the 2008-09 recession.

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