Russia's oil giant Gazprom has become the second largest oil company in the world, President Vladimir Putin said on Thursday in the Siberia city of Tomsk.

"Yesterday Gazprom became the second largest company in the world in its sector, after ExxonMobil, and the fourth largest in the world in terms of capitalization, which has reached almost 260 billion U.S. dollars," Putin was quoted by Russian news agencies as saying when speaking at the Russian-German business forum in Tomsk.

Putin also noted Russia's growing credit rating, saying "The stock market index in Russia in 2005 increased almost 84 percent."

"This indicates an improved investment climate in our country. We hope that our German partners will appreciate these achievements and choose to expand their presence on the Russian market," he said.

Puting and visiting German Chancellor Angela Merkel met on April 26-27 in Tomsk for regular consultations. It is the second meeting between Putin and Merkel after the new German cabinet was formed in November, and their first inter-state consultations.

Source: Xinhua