A profile of world’s biggest oil and gas companies

biggest oil and gas companies
A modern BP filling station on the Kapiti Coast, New Zealand. Image credit: Pcmanrules.

Oil and gas are the two important fuels that meet the energy requirements of more than half of the world’s population. While oil is a major source fuel for transportation, gas is used widely in power generation, heating and cooking.

In 2019, the two commodities accounted for nearly 69% of the primary energy consumption in the US, according to the Energy Information Administration (EIA).

OG Monitor lists the five of the world’s biggest oil and gas companies based on 2019 revenue

Sinopec– 438bn

Founded – 2000, Headquarters- Beijing

Established by the Chinese government, the primary business of China Petrochemical Corporation, also known as Sinopec, is oil and natural gas exploration, production, refining, storage and transportation and retailing oil products.

In 2019, Sinopec produced of oil and gas of 458.92 million barrels of oil equivalent

The company has the second largest gas station network in the world.

The company’s stock trades on exchanges in Hong Kong, Shanghai and New York.

biggest oil and gas companies
Sinopec installed the World’s Largest Hydrogenation Reactor in June 2020. Image credit: China Petrochemical Corporation.

PetroChina – 372bn

Founded – 1999, Headquarters- Beijing

Sponsored by China National Petroleum Corporation (CNPC), PetroChina is the largest oil and gas producer and distributor in China.

PetroChina is present in all key sectors in the petroleum and petrochemical industry. Its core business includes exploration, production, refining of crude oil and natural gas.

In 2019, its total crude oil output was 909 million barrels, while its marketable natural gas output reached 3,910 billion cubic feet.

The company has projects in the Middle East, Central Asia, America, the Asia-Pacific region.

oil and gas companies
A PetroChina station in Xinjiang, China. Image credit: Otebig at English Wikipedia.

Royal Dutch Shell– 344bn

Founded: 1907, Headquarters – The Hague

Established more than 11 decades ago, Royal Dutch Shell, known as Shell, is engaged in exploration, production, refining and marketing of oil and natural gas.

Employing 82,000 people, the company operates in more than 70 countries.

Some of its business activities include onshore and offshore exploration, producing conventional, deep-water and shale oil and gas, and refining oil into fuels and lubricants.

As of 31 December 2019, Shell’s proved oil and gas reserves stood at 4,657 million barrels.

biggest oil companies
Shell oil depot, Philippines. Image credit: Ramon FVelasquez.

Saudi Aramco – 329.8bn

Founded – 1933, Headquarters: Dhahran

Saudi Aramco is one of the world’s largest producers of crude oil and condensate. It manages the Kingdom’s unique reserves and resource base.

As of 31 December 2019, the company’s total 2019 crude oil and condensate reserves were 201.9 billion barrels. Its total reserves stood at 258.6 billion boe.

Saudi Aramco’s employs a total of 79,000 people across its upstream, midstream and downstream sectors.

The company is a key crude oil supplier to India, China, Japan, South Korea, and the Philippines.

oil and gas companies
Aramco compound in Saudi Arabia 1954. Image credit: Joe+Jeanette Archie.

BP – 296.9bn

Founded – 1909, Headquarters: London

With operations in Europe, North and South America, Australasia, Asia and Africa, BP is the first biggest oil and gas producer in the world.

The company produced its first oil on 26 May, 1908.

As of 31 December 2019, BP employed 70,100 people, with a presence in 79 countries. Its proved hydrocarbon reserves stood 19,341 million barrels of oil equivalent.

BP has 18,900 retail fuelling sites across the world.