What are the biggest oil companies in the world? Exxon Mobil may be the most valuable oil company in the World in terms of market value, but there are bigger oil and gas producers out there. Arab, Russian, and Iranian companies are actually bigger than Exxon. Oil business is one of the most profitable businesses out there. Despite growing environmental concerns, oil companies pretty much keep the world running. While animosity against such corporations might be on the rise, the truth of the matter is that oil and natural gas will remain high-end commodities for years to come, making the work of oil companies vital.
Following, we would like to present you with a list we have compiled of the top 10 biggest oil companies in the world. The companies we’re ranked according to the number of barrels produced per day. Let’s take a look at the countdown.
No. 10: Kuwait Petroleum Corporation
Production: 3.2 million barrels a day
Kuwait’s national oil company has managed to recuperate greatly after its fields were set on fire back in the 1990s. Nowadays, the company is one of the top ten biggest oil companies in the world, with a production output of 3.2 million barrels a day.
No. 9: Chevron Corporation (NYSE:CVX)
Production: 3.5 million barrels a day
Chevron’s move to buy Atlas Petroleum back in 2010 has given the company access to new oil fields, increasing its production to 3.5 million barrels a day.
No. 8: Pemex
Production: 3.6 million barrels a day
The Mexican Pemex might still be one of the largest oil companies in the world, but its production rate has significantly decreased since the biggest oil field in the country, Cantarell, has diminished its output by approximately 1.4 million barrels a day.
No. 7: Royal Dutch Shell plc (ADR) (NYSE:RDS.A)
Production: 3.9 million barrels a day
Although already a giant in the oil industry, Royal Dutch Shell is preparing to expand its influence with new drilling sites across the world. If successful, it is safe to assume that the company will increase its already massive oil and natural gas production even more.
No. 6: BP plc (ADR) (NYSE:BP) (former British Petroleum)
Production: 4.1 million barrels a day
While thus far BP has performed rather well, the future of this oil corporation is somewhat unclear. As of now, talks have commenced to sell half of the company to a Russian venture.
No. 5: PetroChina Company Limited (ADR) (NYSE:PTR)
Production: 4.4 million barrels a day
Petro China is the biggest out of three Chinese oil empires with a production amounting to 4.4 million barrels per day. In addition, the company has the highest market capital out of any other publicly traded oil corporation.
No. 4: Exxon Mobil Corporation (NYSE:XOM)
Production: 5.3 million barrels a day
Exxon Mobil, regarded as one of the most profitable mergers in business history, is US’s biggest oil producer. The company cashes in approximately $40 billion in profits every year.
No. 3: National Iranian Oil Company
Production: 6.4 million barrels a day
Even though international sanctions have forced Iran to cut back on its production, the country still remains one of the biggest players in the oil and natural gas game. What is more, it has been reported that some countries, such as India and Turkey, pay for the oil in gold, so as to avoid the above-mentioned sanctions.
No. 2: Gazprom
Production: 9.7 million barrels a day
The Russian Gazprom might not be the world’s biggest oil company, but it is the largest producer when it comes to natural gas, providing this very valuable resource to most of Europe.
No. 1: Saudi Aramco
Production: 12.5 million barrels a day
Saudi Aramco is hands down the biggest oil corporation in the world, with a daily production reaching an impressive 12.5 million barrels. In terms of revenue, the company generates a whopping $1 billion per day.