Ranked: The Largest Gas and Oil Companies in the World

Oil is the most used energy resource in the world, and it is used to power all industries as well as transportation. All economies in the world depend on petroleum reserves and petroleum-related products. Economies rich in oil and gas reserves have a big advantage over other industries.

The transportation sector uses the most oil reserves compared to other industries. China and the US use the most oil reserves in the world.

Let’s discusses the largest oil and gas companies by market value as of October 2021.

Saudi Aramco Saudi Arabia 
2 ExxonMobil US 
3 Chevron US 
4 Shell Netherlands 
5 PetroChina China 
6 TotalEnergies France 
7 Gazprom Russia 
8 ConocoPhillips US
10 Rosneft Russia 

1. Saudi AramcoSaudi Aramco

Saudi Aramco, also known as the Saudi Arabian Oil Company, is the biggest oil company globally. It has its headquarters in Dhahran, Saudi Arabia, and has a market cap of $2.189 trillion. Its total revenue was 229.9 billion USD in 2020, which passes the total revenue of enormous enterprises like Google and Amazon. [1]

This large company employs about 79,800 people and is headed currently by Amin H. Nasser. This company is also responsible for building the Trans-Arabian Pipeline, which was the longest oil pipeline when it was built.

In Saudi Arabia, the oil and gas reserves make up 50% of its total GDP, and the Saudi Arabian Oil Company is responsible for the majority of the country’s Oil and Gas sector revenues. Despite the company’s major setback due to the pandemic, it stays far ahead of its competitors.

2. ExxonMobil

Oil storage tanks at the Exxonmobil terminal in the Pernis harbor

ExxonMobil, also called Exxon Mobil Corporation, is the largest Oil and Gas Company in the United States. Its total revenue in USD is 257.30 billion, and its market capitalization stands at US $325.4 billion. Its headquarter is located in Irving, Texas.

The company holds assets worth 332.8 billion USD and employs about 72,000 people as of 2020. It is part of the Big Oil companies – the six largest public Oil and Gas Companies. The company sells approximately 4.9 million barrels of petroleum products every day as of 2020.

It specializes in selling petroleum-based products. It operates in a 3 tier system that includes Upstream, Downstream, and Chemical. The Upstream section manufactures oil and gas, the downstream segment trades as well as produces petroleum products. The chemical section makes petroleum-based chemicals. [2]

The company is known to invest a lot in fighting the effects of climate change and donated to help control the spread of the Ebola virus.

3. Chevron

Chevron gas station

Founded in 1879, Chevron Oil and Gas Company ranked 61st largest public company in the world in Forbes Global 2002. The company operates in over 180 countries worldwide and employs about 60,000 people. It is also considered one of the six largest companies globally.

Chevron has its headquarters in San Roman, California. It is a multinational energy corporation with total revenue of 155.6 billion USD and a market capitalization of $261.3 billion. 

Its upstream segment works in the exploration and manufacture of oil and gas, and the downstream one focuses on refining and marketing, among other things. Apart from oil and gas, the company also focuses on other renewable forms of energy, including solar, hydrogen, and wind power, as well as technology development. [3]

4. Shell

Shell Oil Truck at the gas station

The Shell moved its headquarters to London, UK, from The Hague in the Netherlands in January 2022. It was formed through the merger of the Royal Dutch Petroleum Company, Netherlands, and The Shell Transport and Trading Company in the UK in 1907. It works in the exploration, manufacture, refining, and marketing of oil and natural gas.

It has a total market cap of USD 175.28 billion and earns total revenue of USD 261.5 billion. It operates in more than 70 countries and employs an average of 86,000 people.

It specializes in promoting renewable energy resources. Their electricity production is 100% renewable. They have been investing in building a sustainable energy future, including wind, solar, and hydrogen energy resources. It is working towards the goal of becoming a net-zero emission business by 2050. [4]

5. PetroChina

The petrol station of PetroChina

PetroChina is the biggest Oil and Gas Company in China, with its headquarters in Beijing. It is also the largest oil and gas producer in Asia. It is a listed unit of the China National Petroleum Corporation which is state-owned and was established in 1999. It is ranked as the 32nd largest public company globally.

PetroChina has a total revenue of USD 367 billion and a US $95.8 billion market cap. It employs 476,223 people and is amongst the largest companies in the world according to the number of employees. 

PetroChina focuses on the exploration, production, refining, and marketing of crude oil, gas, and petroleum-related products as well as chemicals. It also has a gas and pipeline sector that focuses on the transportation of gas, oil, and refined products within the country. [5]

6. TotalEnergies

Exterior view of the headquarters of the oil company TotalEnergies

TotalEnergies is a France-based, multinational, integrated oil and gas company headquartered in Courbevoie, France. It was founded in 1924 and is among the 7 ’supermajor’ oil companies. It is a public company and employs 105,000 people.

It has a US $130.56 billion market cap and total revenue of USD 190 billion. It operates in over 130 countries worldwide. It has total reserves worth 12.3 billion barrels of oil equivalent. On The Fortune Global 500, it ranks as the 25th largest company overall. It has gas stations all over Europe, the USA, and Africa.

It is focused on the exploration, production, and refining of oil and natural gas. It also has sectors focused on power generation, trading, and the transportation of crude oil and natural gas. Moreover, it is a major manufacturer of chemicals and petroleum-based products. [6]

7. Gazprom

Logo of the Gazprom headquarters for Serbia. Gazprom is one of the main power and energy companies of Russia, with offices worldwide.

Gazprom is a multinational energy corporation based in Russia. It is state-owned and has its headquarters in Saint Petersberg, Russia. In Russia, it is the largest oil and natural gas company, having the ownership of much of the gas reserves there. In fact, Gazprom is the largest company of any type in Russia. It employs more people than any other oil and gas company, with the number being 478,000 approximately.

Gazprom has a total market cap of US $121.77 billion and total revenue of 87.4 billion. Its total natural and other gas production in 2020 was more than 454.5 billion cubic meters. Its primary business is the production and transportation of gas to supply it to local industries as well as to other European and Asian countries. [7]

8. ConocoPhillips

ConocoPhillips Company headquarters in Houston

ConocoPhillips is a US-based independent oil and gas corporation that operates multi-nationally with its headquarters in Houston, Texas. It is focused on exploring and manufacturing hydrocarbon. 

It has a total market capitalization of US $95.93 billion and total revenue of US $36.7 billion as of 2019 and earned a profit of 4,680 million USD.

Among independent oil and gas exploration and production companies, it is one of the biggest globally. It operates in 15 countries, including the US, Canada, China, Libya, Australia, and Qatar, among others.

According to The Guardian, ConocoPhillips was the world’s 14th most pollution-causing company globally. Since 1965, ConocoPhillips has produced 15.23 billion tons of carbon dioxide equivalent.

Moreover, ConocoPhillips is an integrated company as it explores, produces, transports, and markets crude oil, natural gas, bitumen, and LNG globally. [8]

9. BP

BP's Canadian head office

BP, also known as the British Petroleum Company plc, is a British Oil and Gas Company with its headquarters located in London, UK. It is among the 7 ‘supermajor’ oil and gas companies.

BP has a total market cap of US $93.97 billion, and in 2019, it had total revenue of US $278.39 billion. Like most other companies, its revenue saw a sharp decrease in 2020 due to the pandemic, falling to just US $180.4 billion.

BP plc’s business is divided into 3 categories; upstream, downstream, and other renewables. Its largest sector is downstream, amounting to about 70% of its total revenue.

BP is known for causing many environmental hazards, including the Deepwater Horizon oil spill in 2010, and was also responsible for 1.53% of global greenhouse gas emissions from 1988 to 2015. [9]

10. Rosneft

Tanks with oil owned oil company Rosneft

Rosneft is a Russia-based integrated Oil and Gas Company with headquarters in Moscow. It is one of the largest oil and gas companies in Russia as well as globally. It is a state-owned company and is the 2nd largest of its kind in Russia.

Rosneft has a total market cap of 84.07 billion USD and earned a total revenue of 8,676 billion Russian rubles in 2019, which dropped to 5,757 billion Russian rubles in 2020 due to the pandemic. Based on revenue, it is the 24th largest oil and gas company in the world.

It works on the exploration, manufacture, refining, and transportation of crude oil, petroleum and petroleum-related products, and natural gas. Its major products include petroleum, natural gas, motor fuels, and petrochemicals. [10]


The oil and gas sector continues to be the major energy producer in the world. Due to the high demand for petroleum and petroleum-based products, many of these companies operate globally and are one of the largest revenue earners for their countries.

However, oil and gas companies also continue to be the leading greenhouse gas emitters in the world, either directly or indirectly, through the use of their supplied products. Thus, many of these companies have been moving towards renewable energy resources, including hydrogen, solar, and wind.


  1. https://www.investopedia.com/what-is-saudi-aramco-4682590
  2. https://www.statista.com/topics/1109/exxonmobil
  3. https://moneyinc.com/chevron/
  4. https://www.newworldencyclopedia.org/entry/Royal_Dutch_Shell
  5. https://www.forbes.com/companies/petrochina/?sh=3a55e88e841e
  6. https://www.investopedia.com/markets/quote?tvwidgetsymbol=TOT
  7. https://www.statista.com/topics/2291/gazprom/#topicHeader__wrapper
  8. https://static.conocophillips.com/files/resources/20-0018-2020-corporate-fact-sheets-company-overvie.pdf
  9. https://www.statista.com/topics/1967/bp-plc
  10. https://www.forbes.com/companies/rosneft/?sh=2308801b498d