Global economies continue to depend on heavily on petroleum-based products which leads to increase in the world’s dependence on oil and gas. According to the US Energy Information Association, the U.S. alone consumed at least 20.5 million barrels of petroleum a day in 2018, which means approximately 7.5 billion barrels over the year, that counts to about 22% of the world’s petroleum consumption. Not to mention that oil sector industry is the biggest sector in the world in terms of its value.
Who are the biggest players in the oil and gas industry and what companies are having the biggest impact on international markets?
Two of the world’s ten top oil companies are based in China, with China Petroleum & Chemical Corporation emerging as the world’s biggest by revenue at $430bn. Most of the ten biggest companies experienced growth in 2018, compared to 2017.
|Country||Company name||Revenue 2017|
|Netherlands, UK||Royal Dutch Shell||265||388.4|
|Saudi Arabia||Saudi Aramco||465.49||355.9|
|China||China National Petroleum Corporation||299.1||349.12|
|Kuwait||Kuwait Petroleum Corporation||251.94|
|United States||Valero Energy||130.84||117.033|
|United States||Chevron Corporation||129.9||158.9|
|Iran||National Iranian Oil Company||110.00|
|United States||Phillips 66||102.35||102.354|
|China||China National Offshore Oil||98.53|
|United States||Marathon Petroleum||97.81||96.504|
|India||Indian Oil Corporation||81.55||65.1|
|South Korea||GS Caltex||50.26|
|United States||Enterprise Products||47.95|
|Greece||Motor Oil Hellas||28.98||–|
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