Russia drops out of the list of top 50 global companies

By bne IntelliNews July 25, 2013

bne -

There are no Russian companies in the Financial Times' latest annual ranking of the 500 biggest firms in the world in terms of market capitalization. State-owned gas giant Gazprom has long been a member of the club, but this year it fell to 57th position, a long drop from last year's 31st.

The company values were calculated as of March 28, and that saw Gazprom's market capitalization down 30.4% on the year at $101.4bn. The decline of its gas export business to Europe - thanks to the advent of shale oil and LNG - did the main damage.

During the same period, the market capitalization of oil major Rosneft increased 6.9% to $80.86bn. However, the aggressively growing company managed to rank only 81st, down from the 79th position it held in the last list.

Meanwhile, the country's largest lender Sberbank ranked 97th, down from 86th, with a market capitalization sunk by 1.8%to $70.89bn. Lukoil, Surgutneftegas, Norilsk Nickel, Novatek and Uralkali also made the top-500 companies, but Gazprom Neft and VTB - which were included in the list last year - fell out of contention.

Apple remains the largest company in the world, with a market capitalization of $415.7bn. See the full list here

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