Rosneft has exceeded Gazprom by market capitalization

​The market capitalization of Rosneft has exceeded the similar rate of Gazprom for the first time since 2006 when the shares of the oil company started to be listed on the stock exchange. The shares of Rosneft rose by 4.8% on the LSE having increase the market capitalization to $52 bln.

Gazprom’s shares rose by 0.3% only, so its market capitalization makes up $51 bln. This rate of Gazprom in 2008 made up $250 bln, however, in the past years it fell by almost 5 times due to the price fall in the oil market and a gradual gas price fall.

Rosneft increases its turnover and is successful in the conditions of the started oil price fall, I. Davletshin, analyst of Renaissance Capital, says. Cash flow of Gazprom is slightly falling and will hardly start to increase in the near future.

Meanwhile Gazprom stays the absolute leader by the level of hydrocarbons extraction.  In the global rating of public oil and gas companies of Forbes, Gazprom is the first among 25 largest producers with 8.38 mln barrels of oil equivalent a day.