7/26/2023 0 Comments Us oil production 2022![]() Formed in 1999 after the merger of Exxon and Mobil, the US multinational oil and gas company is one of the largest refiners in the world. Number of employees: 63,000 About ExxonMobilĮxxonMobil is the world’s biggest non-state oil company. The company controls the world’s second-largest oil reserves and has refining operations both within Saudi Arabia and globally.Ģ021 Barrels per day (mboe/d): 2.29 million barrels/day It operates upstream and downstream and has extensive operations in production, exploration, petrochemicals, refining, marketing, and international shipping. Saudi Aramco is Saudi Arabia's national oil company and regularly wins the title of the world's most profitable company (thanks partly to the low cost of oil production in the kingdom). It has come a long way since then and is now one of the world’s largest publicly listed companies.Ģ021 average barrels per day (mboe/d): 10.95 million barrels per day About Saudi Aramco With the liberalization of trade in China and the resulting economic boom, PetroChina first started to export oil in 1993. It has exploration and production activities, oil refining, natural gas transportation and distribution, and a chemicals business. PetroChina is one of China’s largest oil and gas producers and distributors. The company is a “vertically integrated energy & chemical company that is engaged in oil & gas exploration and production.”Ģ021 Revenue: $386.86 USD Billion (2.6 trillion Yuan)Ģ021 Net Income: $13.61 Billion US (92 billion Yuan)Ģ021 Average barrels per day (mboe/d): 4.45 million The largest company on this list with an annual revenue of $405.4 billion, Sinopec, is a state-owned Chinese oil company based in Beijing. #1: Sinopec (Chinese Petroleum and Chemicals Corporation)Ģ021 Revenue: $405.4 Billion (2.74 trillion Yuan)Ģ021 Net Profit: $10.54 Billion (71.21 billion Yuan) See what’s changed since our last list in 2019. So, who are the key players in the oil sector? In this list, we count down the biggest oil industry companies in the world ranked by annual revenue. In its first outlook for 2023, the IEA estimates that demand for oil is expected to accelerate next year to a record 101.6 million barrels per day, above pre-COVID levels. Global energy demand is increasing as the world population grows and consumers in emerging economies grow wealthier. The industry has also been undergoing a major transformation in recent years as the regulators and global leaders push to reduce industrial carbon emissions.ĭespite the push to net zero, oil and gas remains an important part of the energy mix. The oil and gas industry has undergone a turbulent few years as oil prices cratered in the depths of the COVID-19 pandemic, only to skyrocket this year following Russia’s invasion of Ukraine.
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