The new PFC Energy report has revealed the world’s top ranking oil and gas companies.

National Oil Companies (NOCs) owned by the governments of Brazil, China and Russia have overtaken International Oil Companies (IOCs) such as ExxonMobil and Royal Dutch Shell to appear in the PFC Energy 50’s top rankings of the world’s largest oil and gas organisations.

NOCs Petrochina, Gazprom, Sinopec and Petrobras have all appeared in this year’s top six of the PFC Energy 50 list, a list that is a definitive ranking of the world’s leading private sector energy industry companies by market capitalisation. IOCs such as BP and Chevron have all slipped down the rankings, appearing 7th and 10th respectively.

PFC Energy, a strategic global energy advisory firm, has cited IOC’s lack of access to oil and gas reserves – 65% are off-limits to IOCs – as the main reason for their lack of growth. J. Robinson West, Chairman of PFC Energy, said: “The financial sector recognises that NOCs have superior access to resources and booming domestic markets. Despite their enormous earnings, IOCs must communicate a new vision for growth.”

This year’s list has also experienced some ‘firsts’ – the combined market capitalisation of the PFC Energy 50 increased 45% to US$5 trillion, the largest jump in the list’s history, mainly attributable to the weak US dollar; and the first alternative energy producer has appeared in the rankings with Iberdrola Renovables ranking number 36.

Click here to view the full PFC Energy 50 report.