10 Top Biggest Oil Companies in the World in 2023

Top 10 Oil Companies in the world in 2023

Oil is the most significant energy source to run industries and factories worldwide. Without fuels and petroleum, no industry or economy can survive. It plays the role of basic needs to operate the world. There are many industries around the globe producing a variety of petroleum products like diesel fuel, Jet fuel, synthetic rubbers, gasoline, Kerosene and more, stating that oil is an extraordinary good that is not available in every country. There are specific countries that hold the market oil to run the energy resources including Saudi Arabia,France,  the United States of America ( USA), China,and  the United Kingdom (UK).

Furthermore, Saudi Arabia is the world’s biggest oil and gas integrated company trading with a maximum number of countries around the globe without trading in the world’s biggest economy, the United States. Oil is also a significant resource in maintaining the revenues of the economy. Following are the top 10 oil industries with maximum trading countries and revenues.

Top 10 Largest Oil Companies

1. Saudi Arabian Oil Co. (Saudi Aramco)

It is one of the most prominent Saudi Arabian public petroleum and natural gas companies headquartered in Dhahran, Saudi Arabia. It was founded in 1933 and currently holds a net income of around 109.4 billion USD. Saudi Aramco functions the production and exchange of crude oil and natural gas. It is the largest company generating maximum revenue in the current era. The most considerable flex this company holds is that it does not trade with the USA and still ranks top in oil trading companies. It contains employees around 66800, with its subsidiaries including Luberef, Motiva Enterprises, Saudi Aramco Total Refining and Petrochemical Co., Aramco Overseas Company BV, Yanbu Aramco Sinopec Refining (YASREF) Company Ltd. and more. 

2. ExxonMobil

It is a multinational oil and gas corporation.ExxonMobil is an American corporation with its headquarters located  in Irving, Texas, United States. It was founded in 1999 as one of the largest publicly created International oil and gas companies with functions in converting crude oil into petrochemical feedstocks utilized in medical equipment, electronics, clothing, Tires and other products. It is a leading chemical manufacturer of Oil and Gas products. Its revenue is around 386.8 billion dollars while keeping the night income around 51.9 billion. Its subsidiary companies include Mobil, Imperial Oil, XTO Energy, and more.

3. Shell

It is a British oil and gas company.Its headquarter is located in London, England. It was founded in 1907 and is currently progressing in 70 + countries around the globe. It functions in the production, refining and marketing of oil around the globe. It is well known for being a global lubricant supplier. It generates revenue of around 365.3 billion dollars, holding a net income of around 43.4 billion dollars. It is the largest manufacturer of oiling and chemical products.

4. PetroChina

It is a Chinese oil and gas company listed under National Petroleum Corporation, headquartered in Beijing, China. It was founded in 1999. It regulates the trading exchange and storage of oil and natural gas products. It holds employees of around 506 000. While generating a revenue of around 486.4 billion dollars, with a net income of around 20.9 billion dollars. Its parent organization is China National Petroleum Corporation, while the subsidiary companies are PetroChina International Co., Ltd.Kunlun Energy, and more. It is a leading distributor and producer of oil and gas in China. 

5. Chevron

Chevron is an American multinational Corporation dealing with oil and gas products, headquartered in San Ramon, California, United States. It was founded in 1879 while trading on the biggest scale  with 180 + countries. It holds 43846 employees with a net income of around 34.2 billion dollars generating revenue of around 227.1 billion dollars. It functions in producing and selling high-quality refined products like gasoline, diesel, Marine, and aviation fuels. It processes upstream and downstream operations involving chemical and mining operations along with non-energy activities like technology development. It is a number one refiner and marketer in the USA leading gas liquids. Its subsidiary companies are Texaco, Tengizchevroil, Chevron Australia Pty. Ltd., and more.

6. TotalEnergies

It is a  multinational  petroleum company producing energy goods. It is a French corporation headquartered in Courbevoie, France. It was founded in 1924; TotalEnergies is a multi Energy Company producing fuels, natural gas and electricity. It is one of the seven super major Oil Companies. It generates revenue of around 254.7 million, having a net income of around 23.1 billion dollars. It operates gas stations throughout the USA and Africa. It majorly deals with petrochemical products and refineries.

7. BP PLC

It is an international oil and gas company situated in London, United Kingdom. . It was a British company  founded in 1909 having employees of around 70000. BP stands for British Petroleum company. It functions in the production of oil, petrochemical, petroleum products and different types of acids. It trades internationally with giant companies around the globe. Its net income is around 11 billion dollars, with around 22.7 billion dollars in revenue. The company is also on track to develop new carbon capture and hydrogen opportunities, committing to a lower carbon future by adapting the slogan “Beyond Petroleum”. 

8. ConocoPhillips

It is an American multinational company that works in hydrocarbon exploration and production with its headquarters in Houston, Texas, United States. It is a production company processing  with the production, transportation and marketing of natural gas, crude oil gas liquids and reserves around the globe, being the largest independent petroleum exploration. It was founded in 2002. Its market cap is around 205.29 billion dollars, with a stock price of around $99.71. ConocoPhillips is the largest crude oil marketer in the world.

9. Marathon Petroleum

It is a petroleum American company, headquartered in Findlay, United States. Founded in 2009, it is the downstream energy operating petroleum refining marketing transportation across the United States. It contains various outlets around the globe it owns one of the largest refining systems. It generates revenue of around 173 billion dollars, having a night income of around 12 million dollars. Its subsidiary companies are MPLX, Marathon Petroleum Company LP, and more.

10. Valero Energy Corporation

It is an American-based petroleum public company headquartered in San Antonio, Texas, United States. It was founded in 1980 its functions as the most significant global independent Petroleum refiner, marketer, and Transporter of fuels and energy. It produces different fuels, gasoline, diesel, ethanol, and more it enlists as the second largest fuel producer in the USA, hosting 15 refineries in the USA, Canada and the UK. It generates revenue of around 1 70.5 billion dollars, holding a net income of around 9.4 billion dollars. Its employee size is 9813. The subsidiaries are Ultramar, Diamond Green Diesel, LLC, and more.

Conclusion

Several Companies produce oil and distribute it around the globe. In contrast, few companies outstand the market with their qualitative products and highest return on investment generating maximum revenue and sounding profitable. The list above contains all the world’s largest Oil Companies; most companies are making their way towards technological advancement in terms of fuels and petroleum to create a friendly environment and sustainable economy.

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