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With Oil Prices Falling, Who Are The 10 Largest Oil and Gas Companies Worldwide?

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Over the last century and into the current one, the world has become increasingly dependent on oil in order to function.  From power to products, oil is an essential ingredient in our daily lives.  Over the world, there are many different companies that supply it.  Here are the ten largest oil and gas companies as measured by daily production.

10. Kuwait Petrol Corporation—3.2 million barrels per day

Founded in 1934 by the companies that would become BP and Chevron, Kuwait Oil Company has become a prolific oil producer by making use of the abundant Kuwaiti oilfields.  Over the years, they have expanded their production in order to remain relevant in the world of oil.  Between their crude oil and natural gas production, they earn the number ten spot on the list.

9. Chevron—3.5 million barrels per day

Based in California, this American energy corporation operates in over 180 different countries around the globe and employs nearly 62,000 employees.  Considered one of the Super Majors in the world of oil and gas, they provide a wide variety of products, including additives, base oils, fuels, and lubricants.  

8. Petroleos Mexicanos (Pemex)—3.6 million barrels per day

When British and American oil companies were exploring the oil fields of Mexico, the government sought to embrace the goals of striking workers and nationalized their oil industry.  The industry remained nationalized from 1938 until 2014, at which point they opened their doors to private investors and began working to better their protocol, documentation, and Pemex compliance standards.  

7. Royal Dutch Shell—3.9 million barrels per day

Based in the Netherlands, Shell is another one of the Super Majors.  With 87,000 employees and presence in more than 70 countries, it is a powerhouse in the oil and gas industry.  However, it is also mindful of the green movement and is looking into renewable energy as well.

6. BP—4.1 million barrels per day

BP—or British Petroleum—began all the way back in 1909 under the name Anglo-Persian Company.  As the years have passed, it has taken on a new name and begun drilling operations around the world, from the Middle East to Alaska.

5. PetroChina—4.4 million barrels per day

Employing more than 550,000 employees across the globe, this state-controlled company is likely to only grow as the years go by.  The youngest company on the list—founded in 1999—it pulls in more $325 billion in annual revenue.  

4. ExxonMobil—5.3 million barrels per day

Originally operating as two separate companies, they merged in 1999.  At the time, this made them the largest oil and gas company in the world.  Over the years, they have fallen to the number four spot, though that is hardly something to fret over: they still pull in 420 billion dollars of annual revenue.  

3. National Iranian Oil Company—6.4 million barrels per day

Coming in at third place, their origins are the same as that of BP.  It wasn’t until 1951 that the company was founded, sparked by the rise of nationalism in Iran.  While it is not a company that necessarily has name recognition worldwide, it certainly is a power player in the world of oil and gas.

2. Gazprom—9.7 million barrels per day.

This global energy company is based in Russia and controls one of the largest natural gas reserves in the entire world.  18% of global gas reserves and 15% of global gas output are controlled by Gazprom.  Approximately half of their production serves Russia while the rest is exported to more than 30 other countries.  

1. Saudi Aramco—12 million barrels per day

When a company generates more than 1 billion dollars a day in revenue, they deserve to be number one on this list.  In addition to having an incredible output, they also control the largest reserves in the world.

This article was written and edited by Sarah Bailey Martin, a writer working out of Ohio and Mexico.