CNPC 'bigger than BP and Shell'.Byline: NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of : China's top oil firm CNPC CNPC China National Petroleum Corporation CNPC Centro Nacional de la Productividad y la Calidad (Chile) CNPC Commander, Navy Personnel Command CNPC China National Philatelic Corporation (Chinese stamp authority) is now bigger than oil majors BP and Shell, according to Petroleum Intelligence Weekly's latest annual survey ranking the world's 50 largest oil companies. China National Petroleum Corporation (CNPC) moved into the number five position, bumping BP and Shell into the sixth and seventh positions for 2007, respectively, PIW PIW Petroleum Intelligence Weekly (magazine) PIW Public Interest Watch (Washington, DC) PIW Period of Incapacity for Work (human resources management) PIW Person In Water said in a statement. China is the world's second largest oil consumer after the US. "The main trend in the latest survey is the greater predominance of national oil companies, and, particularly, the substantial gains by Chinese and Russian companies," PIW said in the release. The survey was based on operational data reported by the companies for 2007. ExxonMobil Corp was the only oil major to hold on to its position, remaining at number three, according to the survey. The top two oil companies maintained their positions, with Saudi Aramco holding the number one position and Iran's National Iranian Oil Company The National Iranian Oil Company (NIOC), under the direction of the Ministry of Petroleum of Iran, is an oil and natural gas producer and distributor headquartered in Tehran. It was established in 1948. (NIOC NIOC National Iranian Oil Company NIOC Navy Information Operations Command (US Navy) NIOC Naval Information Operations Command (US Navy) NIOC Northern Illinois Orienteering Club ) at number two. Majority state-owned national oil companies now make up 27 of the top 50 oil companies, according to the survey. Russia's Rosneft made the biggest jump, moving from 24th to 16th. Three new majority state-owned firms joined the top 50 in 2007: Uzbekneftegas, China's CNOOC CNOOC China National Offshore Oil Corporation and Kazmunaigas of Kazakhstan. Rounding out the top 10 largest oil companies were Venezuela's PDVSA PDVSA Petroleos De Venezuela, SA at number four, ConocoPhillips at number eight, Chevron at number nine and French Total at number 10. Meanwhile, CNPC, said its proven oil reserves discovered in 2008 will rank as its third highest in history. Newly discovered gas deposits would surpass 400 billion cubic metres for the fourth time in the company's history, CNPC said in an announcement on its Web site. The parent of PetroChina did not provide figures for the newly added proven oil reserves, which need to be certified by the Ministry of Land and Resources. Copyright 2008 www.tradearabia.com Copyright 2008 Al Hilal Publishing & Marketing Group Provided by Syndigate.info an Albawaba.com company |
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