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Russia gas giant drops out of world’s 50 largest companies list

July 23, 2013, 17:20 UTC+3

Last year, the Russian gas holding was placed 31st, but now it has moved down to 57th

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MOSCOW, July 23 (Itar-Tass) - Russia’s Gazprom gas giant has dropped out of the list of world’s 50 largest companies, according to the Financial Times Global 500 rating.

Last year, the Russian gas holding was placed 31st, but now it has moved down to 57th. This is because of the lowering of company’s capitalization by 30.4 percent, to 101.4 billion dollars.

Apart from Gazprom there are also seven major Russian companies on the FT Global 500 list. All of them have worsened their positions in the rating. Rosneft oil company has moved two positions down to 81 position. Sberbank has lost 11 positions, and now is placed 97th, while Lukoil is placed 142nd. Surgutneftegaz oil and gas producer has gone down to 231, Norilsk Nickel to 277, NOVATEK gas-producing company to 297 and Uralkali potash producer to 450.

US Apple tops the list of FT Global 500 for the second year running despite the falling of its capitalization by 25.6 percent. American ExxonMobil oil company is placed second, and Berkshire Hathaway, investment company of Warren Buffet, is third on the list.

The Financial Times annually publishes the list of the world’s largest companies. They are ranked by market capitalization which must be no lower than 19.5 billion dollars.

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