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/ CORRECTION - PFC Energy 50 Ranking of World's Top Energy Companies: Long Term Trends Reassert Themselves as Combined Value Gains 35%

In the news release, "PFC Energy 50 Ranking of World's Top Energy Companies: Long Term Trends Reassert Themselves as Combined Value Gains 35%" issued earlier today by PFC Energy, we are advised by the company that the first sentence of the first paragraph should read "The combined value of the 50 largest publicly traded energy companies increased 35% in 2009 to $3.9 trillion, according to energy consultants PFC Energy" rather than "The combined value of the 50 largest publicly traded energy companies increased 35% in 2009 to $3.9 billion, according to energy consultants PFC Energy" as originally issued. Complete corrected text follows.

PFC Energy 50 Ranking of World's Top Energy Companies: Long Term Trends Reassert Themselves as Combined Value Gains 35%

WASHINGTON, DC--January 26, 2010 -- The combined value of the 50 largest publicly traded energy companies increased 35% in 2009 to $3.9 trillion, according to energy consultants PFC Energy. That value remains 26% below its $5.2 trillion high at the end of 2007. The 35% gain compares with increases of 71% in oil prices and 20% in the S&P 500 over the same period.

"Many long term trends that were underway before the financial crisis have reasserted themselves," said J. Robinson West, Chairman and CEO of PFC Energy. "We are witnessing the continuing transformation of the industry. Investors see more potential in companies with growing end-user markets and preferential access to resources, and they have soured on the refining business in mature markets."

One year ago, five of the top six positions on the PFC Energy 50 were occupied by ExxonMobil, Royal Dutch Shell, Chevron, BP and TOTAL. ExxonMobil had also reclaimed its long-standing leadership of the PFC Energy 50 list from PetroChina. This year, PetroChina tops the list again, with a market capitalization of $353.1 billion, 9% larger than ExxonMobil and Petrobras is at #4.

The combined value of the list's nine traded national oil companies (NOCs) rose by 66% in 2009, while the six SuperMajors, ExxonMobil, Royal Dutch Shell, BP, Chevron, TOTAL and ConocoPhillips, increased their combined value by less than 1% and OECD-based integrated companies gained only 6% in value.

2009 was a turnaround year for countries as well as companies. Russian companies, last year's worst performers, posted a combined 88% value gain and the value of the Chinese companies grew 52%.

Also visible are early signs of industry restructuring and consolidation. After spinning off its integrated oil sands operations as Cenovus, a smaller Encana fell from #22 to #44. The Petro-Canada merger helped Suncor climb from #37 to #22. ExxonMobil's acquisition of XTO was not completed at year end, but the combined value of the two companies fell short of displacing PetroChina from the #1 position. Consolidation will also affect values in the service sector: Cameron's value reflects its acquisition of Natco and Baker Hughes' pending acquisition of BJ Services would move it to third place among Oilfield Service companies.

Notes to the Editor

The PFC Energy 50 is the definitive ranking of the world's leading publicly traded energy companies by market capitalization. The listing includes companies from nine sectors: International Oil Companies; National Oil Companies; Exploration & Production; Refining & Marketing; Gas Utilities; Oilfield Services; Drilling & Seismic; Equipment and Engineering, Procurement, Construction and Installation; and Alternative Energy. The full report is available at www.pfcenergy50.com. The web site also provides dynamic charts illustrating key trends, interactive tools for testing market capitalization drivers and tracking 2009 performance as well as the PFC Energy 100 listing, which includes power, coal and nuclear companies.

PFC Energy, headquartered in Washington, DC, is a leading strategic advisory firm in global energy with main offices in Houston, Kuala Lumpur, Paris, Beijing, Bahrain and Lausanne. PFC Energy's clients include all major international oil and gas companies, many national oil companies, oilfield service companies, financial institutions and government agencies and ministries involved in energy policy and energy-driven economic development. PFC Energy's coverage includes competitor analysis, energy sector strategies (exploration and production, natural gas, refining and marketing), commercial opportunities, short and long-term oil and gas market projections and geopolitical forces affecting energy policy and energy economics.