In this piece, we will take a look at the five biggest oil companies in the world. For more companies, head on over to 20 Biggest Oil Companies in the World.
5. Shell plc (NYSE:SHEL)
Trailing twelve month revenue as of Q3 2022: $365 billion
Revenue during 2021: $261 billion
Shell plc (NYSE:SHEL) is one of the largest and oldest oil companies in the world. Set up in 1907, it is headquartered in London, the United Kingdom.
Taking advantage of its scale, Shell plc (NYSE:SHEL) announced in November 2022 that it will spend a whopping $2 billion to buy a carbon neutral natural gas producing company in Denmark. The firm, Nature Energy, produces natural gas from animal and food waste.
39 of the 920 hedge funds part of Insider Monkey’s Q3 2022 survey had bought Shell plc (NYSE:SHEL)’s shares.
Shell plc (NYSE:SHEL)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 20 million shares that are worth $1 billion.
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4. Exxon Mobil Corporation (NYSE:XOM)
Trailing twelve month revenue as of Q3 2022: $386 billion
Revenue during 2021: $276 billion
Exxon Mobil Corporation (NYSE:XOM) is the world’s largest non government oil and gas company in terms of revenue. It is based in Irving, Texas.
Exxon Mobil Corporation (NYSE:XOM) plans to spend as much as $17 billion in low carbon projects until 2027. Out of this, $2 billion will be allocated to reducing its current carbon emissions, and the firm is also investing in producing bio-diesel.
By the end of this year’s third quarter, 75 of the 920 hedge funds polled by Insider Monkey had bought Exxon Mobil Corporation (NYSE:XOM)’s shares.
Exxon Mobil Corporation (NYSE:XOM)’s largest investor is Rajiv Jain’s GQG Partners which owns 33 million shares that are worth $2.9 billion.
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3. China Petroleum & Chemical Corporation (SHA:600028.SS)
Revenue during 2021: $456 billion (1RMB = 0.14USD)
Revenue during 2021: $392 billion
China Petroleum & Chemical Corporation (SHA:600028.SS), also known as Sinopec, is a Chinese state owned oil refining company that is headquartered in Beijing. The firm announced in January 2022 that it has built China’s largest carbon recapturing plant that is capable of removing a stunning one million tons of the greenhouse gas from the atmosphere. Its revenue of $399 billion also make it bigger than Aramco – a no small feat.
2. PetroChina Company Limited (SHA:601857.SS)
Trailing twelve month revenue as of H1 2022: $456 billion (1RMB = 0.14USD)
Revenue during 2021: $374 billion
PetroChina Company Limited (SHA:601857.SS) is another Chinese state owned oil company that is headquartered in Beijing. The firm has operations all over the globe, Central Asia, West Asia, East Asia, Europe, and Africa.
PetroChina Company Limited (SHA:601857.SS) is aiming to become a net zero carbon emitter by 2035 and completely transform into a zero carbon emitter by 2050. The firm also added 3.5 million tons of coal equivalent renewable energy generation capacity in 2021.
1. Saudi Arabian Oil Company (TADAWUL:2222.SR)
Trailing twelve month revenue as of Q3 2022: $550 billion
Revenue during 2021: $358 billion
Saudi Arabian Oil Company (TADAWUL:2222.SR), commonly known as Aramco, is Saudi Arabia’s national oil company. It is one of the largest in the world in terms of revenue and constitutes a large chunk of the entire Saudi Exchange’s market capitalization.
Saudi Arabian Oil Company (TADAWUL:2222.SR) has big plans for renewable energy, as it is aiming to set up facilities that are capable of producing up to 12 Gigawatts of electricity from wind and solar plants by 2035. The firm is also aiming to capture up to 11 million tons of carbon dioxide during the same time period.
Disclosure: None. You can also take a peek at 20 Most Valuable Brands in the World and Jim Cramer’s 10 Comeback Stocks.
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