With global economies increasingly relying on petroleum-based products, the world’s dependence on oil and gas is increasing. It seems unlikely that world oil and gas production will peak anytime soon. While the global economy is weakening and oil availability is decreasing. The top oil and gas companies still wield enormous influence in international economics and politics. There are more than 200 top oil and gas companies in the world. What are the key players in the oil sector? Which companies can have the biggest impact on international markets? Let’s find out in the article ahead.
We ranked the top oil and gas companies in the world based on a variety of parameters in this list.
Beijing-based Sinopec is a Chinese energy company specialized in petroleum and chemicals. Hong Kong-based company that also trades in Shanghai and New York.
An annual income of $377 billion makes it one of the largest and most profitable oil and gas companies. Chinese state-owned oil company Sinopec has its headquarters in Beijing. Through exploration and practice in African territories, the company expanded its assets significantly, providing China with a significant foothold on the continent.
There are now Chinese oil and gas companies in over 20 African countries, with Sinopec regularly securing lucrative offshore deepwater exploration blocks against major competitors.
2. Aramco Overseas
Saudi Aramco is the nation’s oil company. The company has operations in both upstream and downstream segments, including production, exploration, petrochemicals, refining, marketing, and international shipping.
Saudi Aramco is not only the most profitable oil company in the world, but it is also the most profitable company in the world by a wide margin. Net income generated by the company in 2018 was $111.1 billion, more than double the second most profitable company, Apple ($59 billion).
The company is a world leader in integrated energy and chemicals. The company has offices in Europe. In addition, it supports a wide range of activities including ensuring the safe supply of energy to customers and funding research and development.
3. China National Petroleum
Formerly the Petroleum Industry Ministry of the People’s Republic of China. Oil and gas company China National Petroleum Corporation has governmental administrative functions.
CNPC began exporting oil and developing overseas after China’s trade liberalization.
Over the years, it has seen many changes, with much of its business now controlled by its subsidiary. Furthermore, it is the world’s fourth-largest publicly-listed company. Currently, the company is responsible for around two-thirds of China’s oil and gas production.
4. Royal Dutch Shell – Top Oil and Gas Companies
Shell, more commonly known as Shell, was founded in 1907. Merged with Shell Transport and Trading Company Ltd of the UK.
Royal Dutch Shell, an Anglo-Dutch company, accounted for 84% of the Netherlands’ GDP at the time. The company topped the FTSE list in 2012 with a market cap of 140.9 billion.
In Fortune 500’s Global 500 – it’s an annual ranking of the world’s largest corporations – the company took the seventh spot.
5. BP plc
Its headquarters are in London, United Kingdom. BP plc produces petroleum in both the conventional and unconventional sectors. It is one of the world’s seven “supermajor” oil and gas producers.
A British company formed in 1909 as an offshoot of Burmah Oil Company, the Anglo-Persian Oil Company specialized in oil refining. Afterward, it became Anglo-Iranian Oil Company and then BP.
Eleven years later, the North Sea proved to be the first oil-rich region. A well-known oil and gas company, BP has more than 20,000 service stations.
Petroleum giant’s downstream segment generates the majority of revenue in recent years. Chemicals, refinery processing, and oil products make up this segment.
6. ExxonMobil – Top Oil and Gas Companies
After the merger of Exxon and Mobil in 1999. One of the largest refiners in the world is this US multinational oil and gas company. ExxonMobil is the world’s seventh-largest company by revenue and has an industry-leading inventory of natural resources and is one of the world’s largest integrated refiners, marketers of petroleum products, and chemical manufacturers.
Originating from Standard Oil, founded by John D. Rockefeller in 1870, ExxonMobil has become the world’s largest publicly traded oil company over the last 140 years.
After the Valdez oil spill in 1989, when 10.8 million US gallons of crude oil spilled over a few days, their public profile took a hit. A human-induced environmental disaster, it is also the second-largest in US waters, following the 2010 Deepwater Horizon oil spill.
7. Total S.A.
Total S.A. An integrated oil and gas company based in France founded in 1924, ArcelorMittal is one of seven “Supermajors” of world oil companies.
The total oil and gas chain is at the heart of Total’s activities since its founding in 1924. In addition to being one of the world’s top producers of oil and gas, Total also produces and distributes renewable energy sources and electricity. The company’s portfolio has a strong presence in LNG thanks to its exposure to Australian LNG.
A representative of the oil giant, Xavier Pfeuty, recently said that LNG can be promoted as an alternative fuel for marine applications. In December 2017, Total won its first LNG supply contract with CMA CGM for 300,000 tonnes per year for 10 years.
8. Valero – Top Oil and Gas Companies
Valero, a Fortune 50 company based in Texas, produces and markets petrochemical products and transportation fuels worldwide.
The company is one of the largest independent petroleum refiners in the world and its industrial activities revolve primarily around refining crude oil – rather than drilling it – and selling it through its retail outlets for a profit.
Founded in 1980 as Valero Refining and Marketing. More than 20,000 people are employed by its 14 petroleum refineries and 15 ethanol plants.
Gazprom owns the world’s largest gas trunk line network, with a global share of 17%. It is a private company, but the Russian government owns the majority of its shares. Gazprom is responsible for around 14% of global gas production and 74% of Russian gas production.
Vladimir Putin’s major reforms also led to a change in management policies and personnel, which led to the Russian government controlling the company in the wake of its major subsidiaries’ sales.
Gazprom is also investing in large-scale gas-exploitation projects in the Yamal Peninsula, Arctic Shelf, Eastern Siberia, and the Far East, as well as developing a gas pipeline to China.
10. Phillips 66
This multi-divisional company, headquartered in the U.S., is in the oil and gas midstream, chemical, and marketing businesses.
Originally part of ConocoPhillips, Phillips 66 became a publicly-traded company in 2012 when it merged with the midstream and downstream businesses. Additionally, the company has 14,400 employees, 13 refineries, and 64,000 miles of pipeline, showing a bright future and a remarkable ability to gain mainstream traction.