Chicago :
Exxon Mobil overtook PetroChina as the world's most valuable company, ending a four-month reign by Beijing oil producer after price controls in China failed to keep pace with rising crude costs.
State controlled PetroChina 's Shanghai traded share have declined 2.2 per cent since Sept 2, when the Chinese government last raised domestic prices for petrol and diesel. Exxon Mobil rose 0.7 per cent in the same period to a market capitalisation of US$ 330 billion, compared with PetroChina's US$ 325.4 billion.
Texas based Exxon Mobil lost the top ranking to PetroChina in May after China's stimulus plan caused a surge in the nation's stocks. The Shanghai Composite Index, which jump 87 per cent in this year's first seven months, has fallen 19 per cent since then. The Dow Jones Industrial Average of 30 blue-chip US stocks, including Exxon Mobil, has risen 6.1 per cent since the end of July.
PetriChina's 14 per cent return on capital is less than half of Exxon Mobil's 36 per cent return, the highest among the world's biggest 10 oil companies by sales.
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 person on the planet. (Bloomberg/Today Online-Singapore)
State controlled PetroChina 's Shanghai traded share have declined 2.2 per cent since Sept 2, when the Chinese government last raised domestic prices for petrol and diesel. Exxon Mobil rose 0.7 per cent in the same period to a market capitalisation of US$ 330 billion, compared with PetroChina's US$ 325.4 billion.
Texas based Exxon Mobil lost the top ranking to PetroChina in May after China's stimulus plan caused a surge in the nation's stocks. The Shanghai Composite Index, which jump 87 per cent in this year's first seven months, has fallen 19 per cent since then. The Dow Jones Industrial Average of 30 blue-chip US stocks, including Exxon Mobil, has risen 6.1 per cent since the end of July.
PetriChina's 14 per cent return on capital is less than half of Exxon Mobil's 36 per cent return, the highest among the world's biggest 10 oil companies by sales.
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 person on the planet. (Bloomberg/Today Online-Singapore)
Posts
No comments:
Post a Comment