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Exxon now most valuable firm
London: ExxonMobil is now the world's most valuable company having overtaken General Electric according to FT Global 500.

Rising oil prices had led ExxonMobil and a host of oil and gas companies from around the world to move up FT Global ranking, which measures companies by their stock market value.

Since the end of June, ExxonMobil has risen from number two to number one, becoming more than $51billion bigger than GE at $409 billion.

Other companies in the rankings include Sabic, the Saudi Arabian oil producer and petrochemicals company valued at $175 billion, jumped to 11 from 17. Russia's state-owned gas company Gazprom, which last week bought almost three quarters of oil company Sibneft for $13.1 billion, became the world's 24th largest company, up from 57.
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