KUWAIT PETROL CORPORATION – 3.2 MILLION BARRELS PER DAY
Kuwait Petroleum Corporation (Arabic: مؤسسة البترول الكويتية) is Kuwait’s national oil company, headquartered in Kuwait City. The activities of Kuwait Petroleum Corporation (KPC) are focused on petroleum exploration, production, petrochemicals, refining, marketing, and transportation. KPC produces about 7% of the world’s total crude oil. KPC plans are to achieve crude oil production capacities in Kuwait of 3.0 million barrels per day by 2010, 3.5 million barrels per day by 2015 and 4.0 million barrels per day by 2020. Its revenue was US$251.94 billion in 2014.
CHEVRON – 3.5 MILLION BARRELS PER DAY
Chevron Corporation is an American multinational energy corporation. One of the successor companies of Standard Oil, it is headquartered in San Ramon, California, and active in more than 180 countries. Chevron is engaged in every aspect of the oil, natural gas, and geothermal energy industries, including hydrocarbon exploration and production; refining, marketing and transport; chemicals manufacturing and sales; and power generation. Chevron is one of the world’s largest oil companies; as of 2017, it ranked nineteenth in the Fortune 500 list of the top US closely held and public corporations and sixteenth on the Fortune Global 500 list of the top 500 corporations worldwide. It was also one of the Seven Sisters that dominated the global petroleum industry from the mid-1940s to the 1970s.
Chevron’s downstream operations manufacture and sell products such as fuels, lubricants, additives and petrochemicals. The company’s most significant areas of operations are the west coast of North America, the U.S. Gulf Coast, Southeast Asia, South Korea, Australia and South Africa. In 2010, Chevron sold an average 3.1 million barrels per day (490×103 m3/d) of refined products like gasoline, diesel and jet fuel
PETROLEOS MEXICANOS (PEMEX) – 3.6 MILLION BARRELS PER DAY
Petróleos Mexicanos, which translates to Mexican Petroleum, but is trademarked and better known as Pemex (Spanish pronunciation: [ˈpemeks]), is the Mexican state-owned petroleum company, created in 1938 by nationalization or expropriation of all private, foreign, and domestic oil companies at that time. Pemex had total assets worth $415.75 billion, and was the world’s second-largest non-publicly listed company by total market value (in December 2005), and Latin America’s second-largest enterprise by annual revenue as of 2009, surpassed only by Petrobras (the Brazilian National Oil Company). The majority of its shares are not listed publicly and are under control of the Mexican government, with the value of its publicly listed shares totaling $202 billion in 2010, representing approximately one quarter of the company’s total net worth
ROYAL DUTCH SHELL – 3.9 MILLION BARRELS PER DAY
Royal Dutch Shell plc (LSE: RDSA, RDSB), commonly known as Shell, is an Anglo-Dutch oil and gas company headquartered in the Netherlands and incorporated in the United Kingdom. It is one of the six oil and gas “supermajors” and the fifth-largest company in the world measured by 2018 revenues (and the largest based in Europe). Shell was first in the 2013 Fortune Global 500 list of the world’s largest companies; in that year its revenues were equivalent to 84% of the Dutch national $556 billion GDP.
Shell is vertically integrated and is active in every area of the oil and gas industry, including exploration and production, refining, transport, distribution and marketing, petrochemicals, power generation and trading. It also has renewable energy activities, including in biofuels, wind, energy-kite systems, and hydrogen. Shell has operations in over 70 countries, produces around 3.7 million barrels of oil equivalent per day and has 44,000 service stations worldwide. As of 31 December 2014, Shell had total proved reserves of 13.7 billion barrels (2.18×109 m3) of oil equivalent.[note 1] Shell Oil Company, its principal subsidiary in the United States, is one of its largest businesses. Shell holds 50% of Raízen, a joint venture with Cosan, which is the third-largest Brazil-based energy company by revenues and a major producer of ethanol.
Shell was formed in 1907 through the amalgamation of the Royal Dutch Petroleum Company of the Netherlands and the “Shell” Transport and Trading Company of the United Kingdom. Until its unification in 2005 the firm operated as a dual-listed company, whereby the British and Dutch companies maintained their legal existence but operated as a single-unit partnership for business purposes. Shell first entered the chemicals industry in 1929. In 1970 Shell acquired the mining company Billiton, which it subsequently sold in 1994 and now forms part of BHP Billiton. In recent decades gas exploration and production has become an increasingly important part of Shell’s business. Shell acquired BG Group in 2016, making it the world’s largest producer of liquefied natural gas (LNG).
Shell has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It had a market capitalisation of £185 billion at the close of trading on 30 December 2016, by far the largest of any company listed on the London Stock Exchange and among the highest of any company in the world. It has secondary listings on Euronext Amsterdam and the New York Stock Exchange. As of January 2013, Shell’s largest shareholder was Capital Research Global Investors with 9.85% ahead of BlackRock in second with 6.89%
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BP – 4.1 MILLION BARRELS PER DAY
BP plc (formerly The British Petroleum Company plc, British Petroleum and BP Amoco plc) is a British multinational oil and gas company headquartered in London, United Kingdom. It is one of the world’s seven oil and gas “supermajors”, whose performance in 2012 made it the world’s sixth-largest oil and gas company, the sixth-largest energy company by market capitalization and the company with the world’s 12th-largest revenue (turnover).It is a vertically integrated company operating in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading. It also has renewable energy interests in biofuels and wind power.
As of 31 December 2017, BP had operations in 70 countries worldwide, produced around 3.6 million barrels per day (570,000 m3/d) of oil equivalent, and had total proved reserves of 18.441 billion barrels (2.9319×109 m3) of oil equivalent. The company has around 18,300 service stations worldwide. Its largest division is BP America in the United States. In Russia, BP owns a 19.75% stake in Rosneft, the world’s largest publicly traded oil and gas company by hydrocarbon reserves and production. BP has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has secondary listings on the Frankfurt Stock Exchange and the New York Stock Exchange. BP’s origins date back to the founding of the Anglo-Persian Oil Company in 1908, established as a subsidiary of Burmah Oil Company to exploit oil discoveries in Iran. In 1935, it became the Anglo-Iranian Oil Company and in 1954 British Petroleum. In 1959, the company expanded beyond the Middle East to Alaska and it was one of the first companies to strike oil in the North Sea. British Petroleum acquired majority control of Standard Oil of Ohio in 1978. Formerly majority state-owned, the British government privatised the company in stages between 1979 and 1987. British Petroleum merged with Amoco in 1998, becoming BP Amoco plc, and acquired ARCO and Burmah Castrol in 2000, becoming BP plc in 2001. From 2003 to 2013, BP was a partner in the TNK-BP joint venture in Russia. BP has been directly involved in several major environmental and safety incidents. Among them were the 2005 Texas City Refinery explosion, which caused the death of 15 workers and resulted in a record-setting OSHA fine; Britain’s largest oil spill, the wreck of Torrey Canyon in 1967; and the 2006 Prudhoe Bay oil spill, the largest oil spill on Alaska’s North Slope, which resulted in a US$25 million civil penalty, the largest per-barrel penalty at that time for an oil spill. The 2010 Deepwater Horizon oil spill, the largest accidental release of oil into marine waters in history, resulted in severe environmental, health and economic consequences, and serious legal and public relations repercussions for BP. 1.8 million US gallons (43,000 bbl; 6,800 m3) of Corexit oil dispersant were used in the cleanup response, becoming the largest application of such chemicals in US history. The company pleaded guilty to 11 counts of felony manslaughter, two misdemeanors, one felony count of lying to Congress, and agreed to pay more than $4.5 billion in fines and penalties, the largest criminal resolution in US history. On 2 July 2015, BP and five states announced an $18.7 billion settlement to be used for Clean Water Act penalties and various claims
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PETROCHINA – 4.4 MILLION BARRELS PER DAY
PetroChina Company Limited (simplified Chinese: 中国石油天然气股份有限公司; traditional Chinese: 中國石油天然氣股份有限公司; Uyghur: چوڭگو نېفتى) is a Chinese oil and gas company and is the listed arm of state-owned China National Petroleum Corporation (CNPC), headquartered in Dongcheng District, Beijing. It is China’s second biggest oil producer. Traded in Hong Kong and New York, the mainland enterprise announced its plans to issue stock in Shanghai in November 2007, and subsequently entered the constituent of SSE 50 Index.
EXXONMOBIL – 5.3 MILLION BARRELS PER DAY
Exxon Mobil Corporation, doing business as ExxonMobil, is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller’s Standard Oil Company, and was formed on November 30, 1999 by the merger of Exxon (formerly the Standard Oil Company of New Jersey) and Mobil (formerly the Standard Oil Company of New York). ExxonMobil’s primary brands are Exxon, Mobil, Esso, and ExxonMobil Chemical. The world’s second largest company by revenue, ExxonMobil from 1996 to 2017 varied from the first to sixth largest publicly traded company by market capitalization. The company was ranked ninth globally in the Forbes Global 2000 list in 2016. ExxonMobil was the tenth most profitable company in the Fortune 500 in 2017. As of 2018, the company ranked second in the Fortune 500 rankings of the largest United States corporations by total revenue. ExxonMobil is one of the largest of the world’s Big Oil companies. As of 2007, it had daily production of 3.921 million BOE (barrels of oil equivalent); but significantly smaller than a number of national companies. In 2008, this was approximately 3% of world production, which is less than several of the largest state-owned petroleum companies. When ranked by oil and gas reserves, it is 14th in the world—with less than 1% of the total. ExxonMobil’s reserves were 20 billion BOE at the end of 2016 and the 2007 rates of production were expected to last more than 14 years. With 37 oil refineries in 21 countries constituting a combined daily refining capacity of 6.3 million barrels (1,000,000 m3), ExxonMobil is the largest refiner in the world, a title that was also associated with Standard Oil since its incorporation in 1870. ExxonMobil has been criticized for its slow response to cleanup efforts after the 1989 Exxon Valdez oil spill in Alaska, widely considered to be one of the world’s worst oil spills in terms of damage to the environment. ExxonMobil has a history of lobbying for climate change denial and against the scientific consensus that global warming is caused by the burning of fossil fuels. The company has also been the target of accusations of improperly dealing with human rights issues, influence on American foreign policy, and its impact on the future of nations.
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NATIONAL IRANIAN OIL COMPANY – 6.4 MILLION BARRELS PER DAY
The National Iranian Oil Company (NIOC; Persian: شرکت ملّی نفت ایران Sherkat-e Melli-ye Naft-e Īrān), a government-owned corporation under the direction of the Ministry of Petroleum of Iran, is a national oil and natural gas producer and distributor headquartered in Tehran. It was established in 1948 and reinforced under The Consortium Agreement of 1954. NIOC ranks as the world’s second largest oil company, after Saudi Arabia’s state-owned Aramco. The NIOC is exclusively responsible for the exploration, drilling, production, distribution and export of crude oil, as well as exploration, extraction and sales of natural gas and liquefied natural gas (LNG). the NIOC exports its surplus production according to commercial considerations in the framework of the quotas determined by the Organization of Petroleum Exporting Countries (OPEC) and at the prices prevalent in the international markets. in early 2015 NIOC’s Recoverable liquid hydrocarbon reserves 156.53 billion barrels (24.886 km3) (10% of world’s total) and Recoverable gas reserves 33.79×1012 m3 (15% of world’s total). Current NIOC production capacities include over 4 million barrels (640×103 m3) of crude oil and in excess of 750 million cubic meters of natural gas per day. Iran’s overall export crude oil was valued at US$85 billion in 2010
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GAZPROM – 9.7 MILLION BARRELS PER DAY
Public Joint Stock Company Gazprom (Russian: Публи́чное акционе́рное о́бщество «Газпром», Publichnoe Aktsionernoe Obshchestvo Gazprom, abbreviated PAO Gazprom, Russian: ПАО «Газпром», IPA: [ɡɐsˈprom]) is a large Russian company founded in 1989, which carries on the business of extraction, production, transport, and sale of natural gas. The company is majority owned by the Government of Russia, via the Federal Agency for State Property Management and Rosneftegaz [ru]. The remaining shares are listed on public stock markets of Moscow, London and Frankfurt. The Gazprom name is a portmanteau of the Russian words Gazovaya Promyshlennost (Russian: га́зовая промы́шленность – gas industry). Gazprom is in the process of moving from Moscow to Saint Petersburg, where it is constructing Europe’s tallest building for its new headquarters. Gazprom is the world’s largest oil producer, with producing oil through the largest natural gas field in the world, the Shtokman field. Gazprom was created in 1989 when the Soviet Ministry of Gas Industry was converted to a corporation, retaining its Russia-based assets. Gazprom is involved in the Russian Government’s diplomatic efforts, setting of gas prices, and access to pipelines. Gazprom’s production fields are located around the Gulf of Ob in Western Siberia. Plans have also been made to mine the Yamal Peninsula. Gazprom’s gas transport system includes 158,200 kilometres of gas trunk lines. Projects include Nord Stream and South Stream. In 2011, Gazprom produced about 513.2 billion cubic metres (18.12 trillion cubic feet) of natural gas, more than seventeen percent of global gas production. Gazprom also produced about 32.3 million tons of crude oil and nearly 12.1 million tons of gas condensate. The company has subsidiaries in industrial sectors including finance, media and aviation, and majority stakes in other companies.
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SAUDI ARAMCO – 12 MILLION+ BARRELS PER DAY
Saudi Aramco (Arabic: أرامكو السعودية ʾArāmkō al-Saʿūdiyyah), officially the Saudi Arabian Oil Company, (formerly Arabian-American Oil Company), is a Saudi Arabian national petroleum and natural gas company based in Dhahran, Saudi Arabia. It is one of the largest companies in the world by revenue, and according to accounts seen by Bloomberg News, the most profitable company in the world. Saudi Aramco has both the world’s second-largest proven crude oil reserves, at more than 270 billion barrels (4.3×1010 m3),and second-largest daily oil production. Saudi officials have backed an official figure of $2 trillion for Saudi Aramco’s value. The company’s financial data were leaked in April 2018, and according to Bloomberg’s analysts the company could be valued at $1.2 trillion, a significantly lower sum. Saudi Aramco operates the world’s largest single hydrocarbon network, the Master Gas System. Its 2013 crude oil production total was 3.4 billion barrels (540,000,000 m3), and it manages over one hundred oil and gas fields in Saudi Arabia, including 288.4 trillion standard cubic feet (scf) of natural gas reserves. Saudi Aramco operates the Ghawar Field, the world’s largest onshore oil field, and the Safaniya Field, the world’s largest offshore oil field. On 09 April 2019, Aramco has raised $12 billion of bonds. Its first international bond issue has received more than $100 billion in orders from foreign investors which breaks all records for a bond issue by an emerging market entity