EXXON MOBIL REGAINS TOP RANKING

10.10.2009 [13:37]
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Baku, October 10 (AZERTAC). Exxon Mobil Corporation regained its ranking as the world`s most valuable company, overtaking PetroChina Co. after Chinese price controls failed to keep pace with rising crude costs, squeezing profits on refined fuels. State-controlled PetroChina`s Shanghai-traded shares have dropped 2.2 percent since Sept. 2, when the Chinese government last raised domestic prices for gasoline and diesel. Exxon Mobil rose 0.7 percent in the same period to a market capitalization of US$330 billion, compared with US$325.5 billion for PetroChina.

Exxon Mobil`s annual sales are more than twice those of PetroChina. The company had US$425 billion in sales last year, or US$60.45 for every man, woman and child on the planet. PetroChina`s 14 percent return on capital is less than half of Exxon Mobil`s 36 percent return, the highest among the world’s biggest 10 oil companies by sales, according to data compiled by Bloomberg.

EXXON MOBIL REGAINS TOP RANKING

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