Major Export Companies: Oil and Gas Operations

Oil rig worker

Oil rig worker

Global oil and gas exports totaled US$1.815 trillion in 2017, making them the world’s second-most valuable exported product group behind cars. That dollar amount reflects a -41.6% decline from $3.109 trillion during 2013, but a 33.5% uptick from 2016 to 2017.

Oil and gas products represent 10.3% of overall 2017 global exported products which totaled $17.546 trillion. This total encompasses crude and refined oils, petroleum gases and petroleum residues.

Almost half (46.5%) of oil and gas exports in 2017 was crude oil, compared to 36.3% for refined oils then 15% for petroleum gases. Much smaller sub-categories include oil products from the distillation of high-temperature coal (1.3%) and petroleum residues like coke and bitumen (0.9%).

Breaking down the value of global oil and gas exports from 2013 to 2017, crude oil fell by -41.6% over the 5-year period, -40.2% for petroleum gases, -36.8% for processed petroleum oils and -30.6% for petroleum residues-related goods. The only appreciating sub-category was a 4.9% increase for oil products from distilled from high-temperature coal.

Largest Oil and Gas Companies

Assets

Below are 25 of the world’s largest oil and gas companies ordered by asset value as of December 2018, starting with conglomerates with the strongest capitalization. Shown within parenthesis is the country where each business has its headquarters.

  1. Royal Dutch Shell: US$410.7 billion (Netherlands)
  2. PetroChina: $381.1 billion (China)
  3. Exxon Mobil: $348.8 billion (United States)
  4. Gazprom: $316.8 billion (Russia)
  5. BP: $275.3 billion (United Kingdom)
  6. Total: $257 billion (France)
  7. Chevron: $256.4 billion (United States)
  8. Sinopec: $249.9 billion (China)
  9. Petrobras: $248 billion (Brazil)
  10. Rosneft: $214.2 billion (Russia)
  11. Eni: $143.1 billion (Italy)
  12. Reliance Industries: $125.2 billion (India)
  13. Equinor: $115.4 billion (Norway)
  14. SK Holdings: $102.5 billion (South Korea)
  15. LukOil: $92 billion (Russia)
  16. JX Holdings: $79.5 billion (Japan)
  17. Repsol: $71.6 billion (Spain)
  18. PTT PCL: $68.5 billion (Thailand)
  19. Phillips 66: $52.1 billion (United States)
  20. Marathon Petroleum: $50.4 billion (United States)
  21. Valero Energy: $49.4 billion (United States)
  22. Indian Oil: $46.6 billion (India)
  23. SK Innovation: $32 billion (South Korea)
  24. Bharat Petroleum: $17 billion (India)
  25. Hindustan Petroleum: $12.5 billion (India)

Five of the world’s biggest oil and gas exports-oriented businesses are headquartered in the United States, compared to four world-class competitors centered in India and three energy giants from Russia.

Nevertheless, the number one oil and gas operator by asset value is venerable Royal Dutch Shell from the Netherlands.

Sales

Below are 25 of the world’s largest oil and gas companies ordered by total sales (both domestic and international) as of December 2018. Shown within parenthesis is the percentage change in annual sales for each business as of December 2018.

  1. Sinopec: US$326.6 billion (up 210.8% from 2017)
  2. Royal Dutch Shell: $321.8 billion (up 37.1%)
  3. PetroChina: $282.4 billion (up 31.5%)
  4. BP: $251.9 billion (up 37.1%)
  5. Exxon Mobil: $230.1 billion (up 16.5%)
  6. Total: $155.8 billion (up 21.6%)
  7. Chevron: $139.4 billion (up 26.2%)
  8. Gazprom: $112.2 billion (up 22.8%)
  9. LukOil: $99.9 billion (up 33.9%)
  10. Valero Energy: $98.6 billion (up 30.3%)
  11. Rosneft: $94.8 billion (up 26.6%)
  12. JXTG Holdings: $92.9 billion (up 29%)
  13. Phillips 66: $92.7 billion (up 30.2%)
  14. Petrobras: $90 billion (up 11%)
  15. SK Holdings: $82.5 billion (up 14.4%)
  16. Eni: $75.5 billion (up 22.6%)
  17. Marathon Petroleum: $71.6 billion (up 27.9%)
  18. Equinor: $65.1 billion (up 42.5%)
  19. Reliance Industries: $60.8 billion (up 45.5%)
  20. PTT PCL: $58.8 billion (up 20.7%)
  21. Indian Oil: $52.9 billion (down -2.2%)
  22. Repsol: $49.7 billion (up 29.4%)
  23. SK Innovation: $40.9 billion (up 19.9%)
  24. Bharat Petroleum: $30 billion (up 4.2%)
  25. Hindustan Petroleum: $27.9 billion (down -2.2%)

Thanks to mergers and acquisition activity, Chinese company Sinopec achieved a triple-digit sales improvement from 2017 to December 2018. In second place was India’s Reliance Industries (up 45.5%) followed closely by Norwegian firm Equinor (up 42.5%).

Two Indian oil and gas companies endured a -2.2% decline in year-over-year sales, namely Indian Oil and Hindustan Petroleum.

Profit

All 25 major oil and gas exports-oriented companies were profitable as of December 2018, with 24 of these businesses earnings over a billion dollars in the most recently reported period.

  1. Valero Energy: US$49.4 billion (United States)
  2. Exxon Mobil: $20.4 billion (United States)
  3. Royal Dutch Shell: $15.2 billion (Netherlands)
  4. Gazprom: $12.2 billion (Russia)
  5. Chevron: $10.2 billion (United States)
  6. Total: $8.4 billion (France)
  7. Sinopec: $8 billion (China)
  8. LukOil: $7.2 billion (Russia)
  9. Reliance Industries: $5.6 billion (India)
  10. Phillips 66: $5.1 billion (United States)
  11. Equinor: $4.9 billion (Norway)
  12. BP: $4.3 billion (United Kingdom)
  13. PetroChina: $4.1 billion (China)
  14. Rosneft: $3.9 billion (Russia)
  15. PTT PCL: $3.9 billion (Thailand)
  16. Eni: $3.9 billion (Italy)
  17. Marathon Petroleum: $3.4 billion (United States)
  18. JXTG Holdings: $3.3 billion (Japan)
  19. Indian Oil: $3 billion (India)
  20. Repsol: $2.3 billion (Spain)
  21. SK Innovation: $1.9 billion (South Korea)
  22. SK Holdings: $1.5 billion (South Korea)
  23. Bharat Petroleum: $1.3 billion (India)
  24. Hindustan Petroleum: $1.2 billion (India)
  25. Petrobras: $642 million (Brazil)

The five American oil and gas businesses (Valero Energy, Exxon Mobil, Chevron, Phillips 66, Marathon Petroleum) garnered billion-dollar profits. This compares to four Indian multinationals (Reliance Industries, Indian Oil, Bharat Petroleum, Hindustan Petroleum) and three Russian major companies (Gazprom, LukOil, Rosneft).

Headquarters

Three of these world-class oil and gas suppliers are headquartered in Moscow, Russia while another trio of major energy businesses are centered in Mumbai, India.

  • BP: (London)
  • Chevron: (San Ramon, California)
  • Eni: (Rome)
  • Equinor: (Stavanger)
  • Exxon Mobil: (Irving, Texas)
  • Gazprom: (Moscow)
  • Hindustan Petroleum: (Mumbai)
  • Indian Oil: (New Delhi)
  • JXTG Holdings: (Tokyo)
  • LukOil: (Moscow)
  • Marathon Petroleum: (Findlay, Ohio)
  • Petrobras: (Rio de Janeiro)
  • PetroChina: (Beijing)
  • Phillips 66: (Houston, Texas)
  • PTT PCL: (Bangkok)
  • Reliance Industries: (Mumbai)
  • Repsol: (Madrid)
  • Rosneft: (Moscow)
  • Royal Dutch Shell: (The Hague)
  • Sinopec: (Beijing)
  • SK Holdings: (Seoul)
  • SK Innovation: (Seoul)
  • Total: (Courbevoie)
  • Valero Energy: (San Antonio, Texas)

Three other large oil and gas firms (Exxon Mobil, Phillips 66, Valero Energy) have their headquarters in a city located in the state of Texas.




 

Note: Some of the above company sales may include products other than oil and gas. For example, SK Holdings also provides information technology services, distributes natural gas, manufactures petrochemicals, develops biopharmaceuticals.

See also Crude Oil Exports by Country, Refined Oil Exports by Country and Crude Oil Imports by Country
 

Research Sources:
Forbes 2017 Global 2000 individual company profiles, Example of top oil and gas company compiled for this study: PetroChina. Accessed on December 17, 2018

Forbes 2017 Global 2000 rankings for Oil & Gas Operations, The World’s Biggest Public Companies. Accessed on December 17, 2018

Trade Map, International Trade Centre. Accessed on December 17, 2018

Wikipedia, List of largest oil and gas companies by revenue. Accessed on December 17, 2018

Wikipedia, List of oil exploration and production companies. Accessed on December 17, 2018