Table of Contents
Largest Oil Companies in the world
We have spoken about the largest tanker operating companies which gave us the thought of writing on the biggest oil company in the world and the other largest oil companies. We have listed the 10 largest oil companies and the 11th largest oil and gas company as a bonus.
01. Sinopec
China Petrochemical Corporation is commonly known as Sinopec. The company’s expertise expands to petroleum and natural gas exploration, production, storage, transportation (including pipeline transportation), and sales. Sinopec caters to the demand for gasoline, diesel, kerosene, synthetic rubbers and resins, jet fuel, and chemical fertilizers. It is a Beijing, China-based petrochemical company established by the state in July 1998.
Sinopec is the biggest oil company in the world with a revenue of USD 407,009. Also the 2nd largest company in the world.
02. China National Petroleum Corporation
China National Petroleum is widely known as CNPC. CNPC is in the second place of largest oil companies in the world with a revenue of USD 379,130. China National Petroleum Corporation is also a China-based company, with oil and gas assets and interests in more than 30 countries in Africa, Central Asia-Russia, America, the Middle East, Asia-Pacific, and other regions.
CNPC’s business scope includes petroleum exploration & production, natural gas & pipelines, refining & marketing, oilfield services, engineering construction, petroleum equipment manufacturing, and new energy development.
03. Royal Dutch Shell
The Royal Dutch Shell is the third-largest oil company in the world having the principal office in Netherland. Shell expertise in the exploration, production, refining, and marketing of oil and natural gas, and the manufacturing and marketing of chemicals. The company was formed in 1907 and operates in more than 70 countries. The annual revenue of the company is USD 352, 106 in 2020.
Shell is hardly working towards a net-zero carbon emission mission to tackle the climate change
04. Saudi Aramco
Saudi Aramco is the 4th largest oil company in the world. Officially Saudi Arabian Oil Company recorded a revenue of USD 329,784 at the end of 2020.
It is based in Dhahran, Saudi Arabia. SABIC, Aramco Overseas Company B.V., Saudi Aramco Total Refining, and Petrochemical Co., S-Oil, and Luberef are few subsidiaries of the Saudi Aramco group.
05. BP
BP is a British multinational oil and gas company headquartered in London, England. Originally company name was British Petroleum and later, with the company transformation, started using the company name as BP PLC. BP has a golden history since 1901 and currently the 5th largest oil company in the world with a revenue of USD 282,616.
The company’s petroleum products include chemicals such as acetic acid, ethylene, polyethylene, and terephthalic acid. The company is aiming to become a net-zero carbon company according to its sustainable framework.
06. Exxon Mobil
ExxonMobil or Exxon Mobil Corporation is an American multinational oil and gas corporation headquartered in Irving, Texas, United States. The company was founded in 1999 with a merger of Exxon and Mobil. Exxon is a publically traded energy provider and a chemical manufacturer.
Mobil, Esso, Imperial Oil, and XTO Energy are subsidiaries of ExxonMobil. Company’s annual revenue is USD 264,938.
07. Total
Total SE is a French multinational, oil and gas company founded in 1924. The origin of the company goes back to the French Petroleum Company later renamed as Total. Total supplies fuels, natural gas, and electricity to more than 130 countries. With a revenue of USD 176,249 total is the 7th largest oil company in the world and second-largest private global LNG player.
Company expects to have a capacity of 1 GW low carbon electricity by 2023.
08. Chevron
The history of Chevron started with the establishment of the Pacific Coast Oil Co. on 10th September 1879 in San Francisco. Chevron’s expertise expands to exploration and production, refining, supply and trading, chemicals and additives, and transportation. Chevron is the 8th largest oil company in the world with a revenue of USD 146,516.
09. Marathon Petroleum
Marathon Petroleum is an American company headquartered in Findlay, Ohio. The company was established in November 2009 and Speedway LLC, Tesoro Corporation, ARCO, are subsidiaries of the company. Marathon has more than 3 million barrels per day of crude oil capacity across its 16 refineries. The company was established in 1887 as the Ohio Oil Company, with the rebranding of the company its name changed to Marathon Petroleum LP.
Its products include Xylene and Toluene, Xylene and Toluene, Benzene and Cumene, Sulfur, Petroleum Coke, heavy oils, and bunkers. Currently, Marathon is the 9th largest oil company in the world with a revenue of USD 124,813.
10. Lukoil
The PJSC Lukoil Oil Company commonly known as Lukoil is a Russian multinational energy corporation. Lukoil engages in oil and gas extraction, production, transport, and sale of petroleum, natural gas, and petroleum products. It accounts for nearly 2% of the world’s oil production. Upstream operations of the company cover twelve countries and highly focus on Russia, Central Asia, and the Middle East.
The company follows a vertical integration business model to diversify risks. In the year 2020, Lukoil’s annual revenue was USD 114,621.
11. Philips 66
Here is the bonus company. We have listed the 11th largest oil company which is Philips 66. Company is an American multinational energy company headquartered in Westchase, Houston, Texas. Philips 66 has 13 refineries in the United States and Europe with 2.2 million barrels of crude oil capacity per day. The company’s annual revenue has recorded as USD 109,559 in 2020.