World’s Top 10 Oil Companies – An Overview
Oil companies are crucial for energy production and supply, providing billions of barrels of petroleum products every day to fuel transportation and industry. Despite growing concerns about climate change and efforts to reduce carbon-based fuel consumption, the industry remains strong. Here’s a look at the top 10 largest oil companies based on their trailing 12-month revenue as of December 2022.
Saudi Arabian Oil Co. (Saudi Aramco)
Saudi Aramco takes the top spot as the largest global oil company with a revenue of $590.3 billion. Although it is not traded in the US, Saudi Aramco is the world’s largest integrated oil and gas company with innovation hubs in the US, Europe, and Asia. [source]
China Petroleum & Chemical Corp. (Sinopec)
Sinopec, generating a revenue of $486.8 billion, is a leading producer and distributor of various petrochemical and petroleum products globally. [source]
PetroChina Co. Ltd.
PetroChina, with a revenue of $486.4 billion, is the publicly listed unit of China National Petroleum Corporation and contributes significantly to China’s oil and gas production. [source]
Exxon Mobil Corp.
Exxon Mobil, with a revenue of $386.8 billion, is a prominent player in oil and natural gas exploration, production, trading, transportation, and sales globally. [source]
Shell PLC
Shell, an international energy company, is involved in oil and natural gas exploration, production, refining, marketing, and chemical manufacturing, with a revenue of $365.3 billion. [source]
TotalEnergies SE
TotalEnergies, headquartered in France, explores and produces crude oil, natural gas, and low-carbon electricity, with a revenue of $254.7 billion. [source]
Chevron Corp.
Chevron, an integrated oil company, engages in upstream and downstream operations, including exploration, production, refining, transportation, and marketing. With a revenue of $227.1 billion, it is a key player in the industry. [source]
BP PLC
British oil company BP, with a revenue of $222.7 billion, is involved in oil and petrochemical exploration, production, and supply. The company is transitioning to an integrated energy company focused on customer solutions. [source]
Marathon Petroleum Corp.
Marathon Petroleum, a US-based company, refines and ships petroleum products, with a revenue of $173 billion. It is also a leaseholder and owner of petroleum pipelines. [source]
Valero Energy Corp.
Valero, the largest independent petroleum refiner worldwide, has a revenue of $170.5 billion and operates refineries and wind turbines in the US, Canada, and the UK. It is also the second-largest producer of renewable fuels. [source]
These oil companies play a crucial role in meeting global energy demands, although efforts are ongoing to reduce our reliance on carbon-based fuels due to environmental concerns.
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