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.

We listed the biggest oil and gas companies ranked by annual revenue.

CountryCompany nameRevenue 2017
(US$ billion)
Revenue 2018
(US$ billion)
ChinaSinopec Group314.4430.8
Netherlands, UKRoyal Dutch Shell265388.4
Saudi ArabiaSaudi Aramco465.49355.9
ChinaChina National Petroleum Corporation299.1349.12
UKBP222.8303.73
USAExxon Mobil268.9279.3
KuwaitKuwait Petroleum Corporation251.94
FranceTotal SA212209.363
RussiaLukoil144.17
ItalyEni131.82
United StatesValero Energy130.84117.033
United StatesChevron Corporation129.9158.9
VenezuelaPDVSA128.44
MexicoPemex117.5
IranNational Iranian Oil Company110.00
RussiaGazprom106.3
United StatesPhillips 66102.35102.354
MalaysiaPetronas100.74
ChinaChina National Offshore Oil98.53
United StatesMarathon Petroleum97.8196.504
ThailandPTT93.55
RussiaRosneft91.72
JapanJX Holdings90.67
FranceEngie89.64
BrazilPetrobras88.8
NorwayEquinor82.48
IndiaIndian Oil Corporation81.5565.1
AlgeriaSonatrach76.1
IndiaReliance Industries73.164.6
IndonesiaPertamina70.65
AzerbaijanSOCAR54.79
South KoreaGS Caltex50.26
IndiaONGC119.6127.5
United StatesEnterprise Products47.95
SpainRepsol47.29
United KingdomCentrica45.29
IndiaBharat Petroleum43.4642.555
AustriaOMV Group43.09
JapanIdemitsu Kosan38.58
IndiaHindustan Petroleum37.8537.17
PolandPKN Orlen36.1
FranceSchlumberger35.47
CanadaSuncor Energy34.66
GreeceHellenic Petroleum31.28
United StatesConocoPhillips29.1138.727
GreeceMotor Oil Hellas28.98
ColombiaEcopetrol26.99
SpainCEPSA26.9
HungaryMOL24.63

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