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

Related Articles

Drum rolls in the great disappearing act of Russia's banks

Jason Corcoran in Moscow - Russian banks are disappearing at the fastest rate ever as the country's deepening recession makes it easier for the central bank to expose money laundering, dodgy lending ... more

Kremlin: No evidence in Olympic doping allegations against Russia

bne IntelliNews - The Kremlin supported by national sports authorities has brushed aside "groundless" allegations of a mass doping scam involving Russian athletes after the World Anti-Doping Agency ... more

PROFILE: Day of reckoning comes for eccentric owner of Russian bank Uralsib

Jason Corcoran in Moscow - Revelations and mysticism may have been the stock-in-trade of Nikolai Tsvetkov’s management style, but ultimately they didn’t help him to hold on to his ... more