The world’s dependence on oil and gas is increasing as global economies infrastructure continue to rely massively on petroleum-based products. Discussions of when world oil and gas production will peak seem to be on the fringe. Even amid a weakened global economy and the shrinking availability of oil. Indeed, the top oil and gas companies remain to wield incredible influence in international economics and politics. There are over 200 top oil and gas companies in the world. Who are the key players in the oil sector industry? What companies can have the biggest effect on international markets? Let us see in the article ahead.
In this list, we count down the top oil and gas companies in the world ranked by different parameters.
China Petroleum & Chemical Corporation, or Sinopec, is a Chinese oil and gas enterprise based in Beijing, China. It is registered in Hong Kong and also trades in Shanghai and New York.
It is among the largest and top oil and gas companies with an annual income of $377 billion. Sinopec is a state-owned Chinese oil company based in Beijing. The company significantly expanded its assets by exploring and practicing in African territories, providing China with a major foothold in the continent.
Chinese oil and gas organizations now run in more than 20 African countries, with Sinopec regularly beating off major western oil and gas competitors to secure lucrative offshore deepwater prospecting blocks.
2. Aramco Overseas
Saudi Aramco is Saudi Arabia’s national oil company. Operating in both upstream and downstream segments, the company has extensive operations in production, exploration, petrochemicals, refining, marketing, and international shipping.
Not only is Saudi Aramco the most profitable oil company in the world, but it is also the most profitable company in the world by a large margin. In 2018, the company generated $111.1 billion in net income – far exceeding the second most profitable company in 2018, Apple ($59 billion).
Aramco is a world leader in integrated energy and chemicals. It has offices in Europe. It also support a wide range of activities from facilitating the safe delivery of energy to customers, to pushing for breakthroughs in research and innovation.
3. China National Petroleum
Established in 1988 and the predecessor of the Ministry of Petroleum Industry of the People’s Republic of China. The China National Petroleum Corporation is a state-owned oil and gas company with governmental administrative functions.
With the liberalization of trade in China, CNPC first started to export oil and engage in the development of overseas.
It has come a very long way since then, with much of its operations organized under its subsidiary. It is also the world’s 4th largest publically listed company. The company also currently accounts for around two-thirds of China’s oil and gas output.
4. Royal Dutch Shell – Top Oil and Gas Companies
The super major more commonly known as Shell was founded in 1907. Following the merger of the Royal Dutch Petroleum Company and the “Shell” Transport and Trading Company Ltd of the UK.
An Anglo-Dutch company, Royal Dutch Shell’s revenue is equivalent to 84% of the Netherlands’s GDP at the time. In 2012 Shell took the top spot as the biggest company on the FTSE, with a 140.9 billion market capitalization.
The company took the number seven spot in Fortune 500’s Global 500 – their annual ranking of the world’s largest corporations.
5. BP plc
BP plc is a British multinational oil and gas company headquartered in London, United Kingdom. It is one of the world’s seven oil and gas “supermajors”.
The Anglo-Persian Oil Company formed in 1909, was an offshoot of the Burmah Oil Company. It later rebranded to the Anglo-Iranian Oil Company and then finally to BP.
11 years later the company became the first to strike oil in the North Sea. Thanks to its 20,000 plus service stations, BP is one of the most recognizable oil and gas companies.
In recent times, most revenue generated by the petroleum giant is through the downstream segment. This segment includes refinery processing, oil products, and chemicals.
6. ExxonMobil – Top Oil and Gas Companies
Formed in 1999 after the merger of Exxon and Mobil. This US multinational oil and gas company is one of the largest refiners in the world. The world’s seventh-largest company by revenue, ExxonMobil also holds an industry-leading inventory of resources and is one of the largest integrated refiners, marketers of petroleum products, and chemical manufacturers in the world.
A descendant of Standard Oil, established by John D. Rockefeller in 1870, ExxonMobil has evolved over the last 140 years from a regional marketer of kerosene in the U.S. to the largest publicly traded oil and gas company in the world.
Their public profile took a hit in 1989 with the Valdez oil spill when 10.8 million US gallons of crude oil were spilled over the next few days. It is also considered to be one of the most devastating human-caused environmental disasters and the second-largest in US waters, after the 2010 Deepwater Horizon oil spill.
7. Total S.A.
Total S.A. is a French multinational integrated oil and gas company founded in 1924 and one of the seven “Supermajor” oil companies in the world.
Founded in1924, Total’s activities cover the entire oil and gas chain. The total has a very diverse portfolio across different resource themes with a strong presence in LNG, particularly due to exposure to Australian LNG. The total also has produced oil and gas for almost a century and has also branched into renewable energies and electric power.
Recently, Xavier Pfeuty, LNG Manager of Total’s Marine Fuel Global Solutions group, the oil giant is committed to promoting LNG as a viable marine fuel. The total has been pursuing major LNG contracts – and in December 2017, won its first supply contract with CMA CGM for 300,000 tonnes of LNG per year for ten years.
8. Valero – Top Oil and Gas Companies
Fortune 50 company, Valero, is an international manufacturer and marketer of transportation fuels and petrochemical products based in Texas.
One of the world’s largest independent petroleum refiners, Valero’s activities are predominantly based around refining crude oil as – opposed to drilling – and selling the product through its 6,800 retail outlets.
Formerly know, as Valero Refining and Marketing company, founded in 1980. It now operates 15 petroleum refineries and 14 ethanol plants and employs over 20,000 personnel.
With a global share of gas reserves of 17%, Gazprom owns the world’s largest network of gas trunk lines. Although a private company, the Russian government owns the majority of shares of the company. At present, Gazprom is responsible for around 14% of global gas output and 74% of Russian gas output.
Following major reforms initiated by President Vladimir Putin, the company also saw a shift in management personnel and policy, and later sales by its major subsidiaries resulted in the Russian government gaining the controlling share in the company.
In recent times, Gazprom has also been focusing on large-scale projects to exploit gas resources in the Yamal Peninsula, Arctic Shelf, Eastern Siberia, and the Far East, Developing Russia’s Arctic shelf resources and developing a gas line to China.
10. Phillips 66
Major U.S. energy manufacturing and logistics company, Phillips 66, has also a diversified portfolio of activities in midstream, chemical, marketing, and refining areas of oil and gas production.
Phillips 66 emerged from ConocoPhillips’ midstream and downstream businesses to create a publicly traded company in 2012. Furthermore, the energy company has 14,400 employees, 13 refineries, and 64,000 miles of pipeline – displaying a bright future and impressive ability to gain mainstream traction.