Gazprom continues losing its market share. After a year on top of the largest energy companies in the S&P Global Platts rankings, the gas giant slid to 17th place. The world's largest reserves of natural gas, competent management, and sanctions - all these failed to help the company to stay afloat.

In the meantime, Lukoil climbed to the second spot in the annual ranking of the largest energy companies, according to S&P Global Platts. The first place went to ExxonMobil. The top five also included US-based Phillips 66, Germany’s E.On, and China’s China Shenhua Energy Co Ltd. While Gazprom, the leader of the last year, dropped to 17th position. Notably, in addition to Lukoil, several more Russian companies moved up in the ranking. Thus, Surgutneftegaz rose from 165th to 35th place, and Bashneft climbed from 75th to 72nd place. However, Transneft fell from 14th to 30th spot, Rosneft dropped from 22nd to 36th, Tatneft took 54th place compared to last year’s 46th position, and Novatek got down from 44th to 60th place.