Candidates were chosen for their impact on the sector and leadership roles for the petroleum industry around the world. Of those selected, 33 are executives of internationally active oil companies, eight are ministers of petroleum, four are heads of key international service/supply companies, and five are analysts.

Lord John Browne, group CEO at BP, was ranked number one for establishing the most significant merger of recent years in its multi-billion-dollar deal with Russia's Tyumen Oil forming TNK-BP.

Oil & Gas International said Browne also led the world's leading oil companies in a commitment to exploration, development, and production that is both environmentally friendly and considerate of the people who live and work where BP works.

Ellice-Flint's selection follows a successful year for Santos that resulted in a slight increase in profit to $170 million. However the largest impact on the company's future came with the approval of the $US1.5 billion Bayu-Undan project in the Timor Sea.