Mukesh Ambani RIL becomes sixth largest global energy firm by market cap


Last modified:Dec 20,2019 11:29:32 am

Mukesh Ambani RIL becomes sixth largest global energy firm by market cap

Mukesh Ambani owned Reliance Industries Ltd (RIL) pipped British oil major BP Plc in terms of market capitalisation to become the world's sixth largest energy entity.

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Reliance Industries Ltd (RIL)

Mukesh Ambani led-Reliance Industries Ltd (RIL) British oil major BP become the world’s sixth-largest energy entity. The market cap is mostly thanks to Indian conglomerate’s retail and telecom businesses.RIL hit a market cap of $130.76 billion on Wednesday, compared with BP Plc’s $128 billion. In early deals today, shares of RIL traded at ₹1,466 on the BSE, having gained over 31% so far this year. The shares of BP Plc closed at $6.33, down 3.8%--the most in four weeks--in London trade, after dashing investor hopes of a higher dividend this year. The company’s market capitalization stood at $128.86 billion. Year to date, BP Plc stock declined 0.7%.

Exxon Mobil Corp

Exxon Mobil Corp is the most prominent oil and gas firm, with a market cap of $290.42 billion, followed by Royal Dutch Shell Plc at $238.15 billion, Chevron Corp at $224.92 billion, Petrochina Co Ltd with $149.20 billion in market cap, and Total SA at $141.74 billion. The world’s largest energy entity is Saudi Aramco, which pumps about 10% of the world's crude and emerged as the most profitable company in 2018. Saudi Aramco beat Exxon Mobil Corp in terms of earnings. The energy giant plans to launch its initial public offering in November.BP is RIL's partner in its exploration and production ventures in India. Both companies also operate an equal joint venture called India Gas Solutions and will partner to set up retail fuel outlets.

Saudi Aramco

It is known as the Saudi Arabian Oil Company is a Saudi Arabian national petroleum and natural gas company based in Dhahran, Saudi Arabia. It is one of the largest companies in the world by revenue, and according to accounts seen by Bloomberg News, the most profitable company in the world.

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