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The world's biggest oil and gas companies

12 November 2013




Six of the world's top 10 oil and gas companies are state-owned. Saudi Aramco is the world's biggest, both in terms of production and reserves, while US-based ExxonMobil is the largest among publicly traded oil and gas companies. Hydrocarbons-technology.com profiles the world's 10 biggest oil and gas companies based on production in 2012.


The world's biggest oil and gas companies

Saudi Aramco

Saudi Aramco, the state-owned oil company of Saudi Arabia, is the world's biggest oil and gas producer. The company produced 3.479 billion barrels of crude oil (about 13% of the world's total crude production) and 3.924 trillion standard cubic feet of gas in 2012, which is equivalent to daily average production of 11.57 million barrels of oil equivalent (Mboe). The company was founded in 1933 and is headquartered in Dhahran.

Saudi Aramco has the capacity to produce 12 million barrels of crude oil and process 13.23 billion standard cubic feet of gas a day. It also has the world's biggest proven oil reserves. The company's recoverable crude oil and condensate reserves as of December 2012 stood at 260.2 billion barrels. Gas reserves were estimated at 284.8 trillion standard cubic feet.

The company owns and operates the Ghawar field, the world's largest onshore field, as well as the largest offshore field in the world, Safaniya. Saudi Aramco produced 507 million barrels of refined products in 2012. It exported 2.521 billion barrels of crude oil and 126 million barrels of refined products in the same year.

Gazprom

Russia's state-owned Gazprom is the second biggest oil and gas company in the world. It is also the biggest gas producing company in the world. Gazprom produced 17.19 trillion cubic feet of natural and associated gas in 2012, which accounted for 13.6% of the world's total gas production and 74% of Russia's total gas production. The company also produced 11.6 million tonnes of condensate and 30.2 million tonnes (221.36 million barrels) of oil during the year.

Gazprom holds the world's biggest natural gas reserves. Its gas reserves as of December 2012 stood at 1,239.5 trillion cubic feet accounting for 18.3% of the world's total gas reserve and 72% of Russia's gas reserves. The company's oil and condensate reserves were estimated at 2.72 billion tonnes.

Gazprom owns the largest gas transmission system in the world with its gas trunk-lines exceeding a million miles in length. The company is currently engaged in implementing large-scale gas projects in the Yamal Peninsula, Arctic Shelf, Eastern Siberia and the Far East of Russia, as well as exploration and production projects abroad. The company, founded in 1989, is headquartered in Moscow.

National Iranian Oil Company

National Iranian Oil Company (NIOC), the state-owned oil company of Iran, produced 3.5 million barrels of oil per day in 2012, becoming the third biggest oil and Gas Company in the world.

Although NIOC recorded oil production of more than six million barrels per day in its history, production has declined during recent years, due to numerous international sanctions. Gross natural gas production of the company in 2011 stood at 7.9 trillion cubic feet.

NIOC was estimated to hold 154 billion barrels of proven oil reserves and 1,187 trillion cubic feet of natural gas as of January 2013. The company holds the second largest gas reserves in the world, after Gazprom. Gas reserves are predominantly located offshore. The South Pars field accounts for about 35% of Iran's total natural gas production, whereas Abouzar is its largest offshore oil field. Ahwaz-Asmari, Marun and Gachsaran are the major onshore oil producing fields operated by NIOC.

NIOC consists of 17 production companies, including the Iranian Central Oil Fields Company (ICOFC), Iranian Offshore Oil Company (IOOC), Khazar Exploration and Production Company (KEPCO), Karoon Oil and Gas Production Company (KOGPC) and the Pars Oil and Gas Company (POGC). IOOC has capacity to produce more than 640,000 barrels of crude oil per day. NIOC was founded in 1948. Its headquarters are in Tehran.

ExxonMobil

American multinational oil and gas company ExxonMobil is the fourth biggest oil and gas company in the world, with production of 2.185 million barrels of crude oil and 12.322 billion cubic feet of natural gas per day in 2012. It processed five million barrels of crude per day and sold 6.174 million barrels of refined products per day in the year.

The company was estimated to hold 12.816 billion barrels of liquid hydrocarbon reserves at the end of 2012. Its natural gas reserves were estimated at 74.091 trillion cubic feet. ExxonMobil is the largest publicly traded international oil and gas company and the largest refiner and marketer of petroleum products in the world.

The company operates in 47 countries globally. It has 28 major upstream projects scheduled to start up between 2013 and 2017. The company was founded in 1999 with the merger of two companies, namely Exxon and Mobil. Its headquarters are in Irving, Texas, United States.

PetroChina

PetroChina is the fifth largest oil and gas company in the world. It produced 916.5 million barrels of crude oil and 2.558 trillion cubic feet of natural gas in 2012. Overseas crude oil production by the company during the year stood at 136.9 million barrels. PetroChina's refineries processed about a billion barrel of crude oil and produced 82.56 million tonnes of gasoline, diesel and kerosene in 2012.

The company's proved reserves of crude oil as of December 2012 were estimated at 11.018 billion barrels. Proven reserves of natural gas stood at 67.581 trillion cubic feet. Most of its proved crude oil and natural gas reserves are located in China.

PetroChina is a subsidiary of the state-owned China National Petroleum Corporation (CNPC). It was established as a joint stock company in 1999. The company produces about two-thirds of China's oil and gas. PetroChina's headquarters are in Beijing.

Pemex

Pemex, the sixth largest oil and gas company in the world, is the Mexican state-owned petroleum company. Pemex produced 2.548 million barrels of crude oil and 6.385 billion cubic feet of natural gas per day in 2012. It exported 1.256 million barrels of crude oil per day and produced 1.337 million barrels of petroleum products per day during the year.

The company's total proved hydrocarbon reserves as of December 2012 stood at 13.868 billion barrels of oil equivalent, of which crude oil accounted for 73%. Condensates and dry gas accounted for ten percent and 17% of the total hydrocarbon reserves.

Pemex is the sole producer of crude oil, natural gas and refined products in Mexico. It currently operates 449 fields. The major oil projects of the company include KMZ, Cantarell, Crudo Ligero Marino and Chuc. The major gas projects include Cantarell, Burgos and Veracruz. Premex was founded in 1938.

BP

BP, also known as British Petroleum, is the seventh biggest oil and gas company in the world. The multinational company produced 2.056 million barrels of oil and 7.393 billion cubic feet of gas per day in 2012. The refinery throughputs of the company stood at 2.354 million barrels per day during the year.

The proved crude oil reserves of the company as of December 2012 were estimated at 9.855 billion barrels. The proved natural gas reserves stood at 40.305 trillion cubic feet. The company has 15 wholly or partly owned refineries. The US accounts for more than half of its refinery throughputs. The company is headquartered in London and has upstream operations in 28 countries.

Russia is the largest oil producing region for BP, whereas the US leads in its natural gas production. The company's origin can be traced back to 1909, when the Anglo-Persian Oil Company was founded. BP was originally founded as British Petroleum in 1954, which became BP Amoco public limited company in 1998. The company was rebranded as BP (Beyond Petroleum) in 2001.

Royal Dutch Shell

Royal Dutch Shell, also commonly known as Shell, is the eighth biggest oil and gas company in the world. The Anglo-Dutch multinational company produced 1.488 million barrels of crude oil and 9.449 billion cubic feet of natural gas per day in 2012. It processed 2.819 million barrels of crude oil per day during the year.

Shell's proven reserves of oil and natural gas liquids as of December 2012 stood at 4.384 billion barrels. The proved natural gas reserves were estimated at 42.729 trillion cubic feet. Majority of the company's proved oil and gas reserves are in Asia. The company has interests in more than 30 refineries around the world with a combined refinery capacity of around 3.4 million barrels per day.

The company's upstream business comprises of two organisational units namely Upstream Americas and Upstream International. Major under-construction projects of Shell include Cardamom Deep, Gbaran Ubie Phase Two and Manjoon. The company was founded in 1907 and headquartered in The Hague, the Netherlands.

Kuwait Petroleum Corporation

Kuwait Petroleum Corporation (KPC), a state-owned entity of Kuwait, strands as the ninth biggest oil and gas producer in the world, with 2012 production at 3.165 million barrels of oil per day. It also produced 1.373 million cubic feet of accompanying gas and 94 million cubic feet of free gas per day in the same year. KPC was founded in 1980. Its head office is located in the Kuwait City.

KPC operates through its fully owned specialised subsidiaries in Kuwait as well as abroad. Kuwait Oil Company (KOC) is responsible for exploration, drilling, production and transportation of hydrocarbon resources within Kuwait. Kuwait's proven oil reserve as of December 2012 stood at 102 billion barrels. KOC produced 2.9 million barrels of oil per day in 2012. Kuwait National Petroleum Company (KNPC), another subsidiary of KPC, is responsible for processing the crude oil produced by KPC.

Kuwait Foreign Petroleum Exploration Company (KUFPEC) is engaged in exploration, development and production of crude oil and natural gas outside Kuwait. KUFPEC is currently active in Asia, Africa, the Middle East, UK and Australia. Its oil reserves stood at 352 million barrels of oil equivalent as of December 2011.

Chevron

Chevron ranks as the tenth biggest oil and gas company in the world. It produced 1.764 million barrels of crude oil and 5.074 billion cubic feet of natural gas per day in 2012. The net oil-equivalent production averaged 2.61 million barrels per day in the year. The company processed 1.702 million barrels of crude oil and sold 2.765 million barrels of refined products a day in 2012.

Chevron's proved liquid hydrocarbon reserves as of December 2012 stood at 4.353 billion barrels. Proven natural gas reserves of the company were estimated at 25.654 trillion cubic feet. Major producing areas for Chevron include Angola, Australia, Azerbaijan, Bangladesh, Brazil, Canada, China, Denmark, Indonesia, Kazakhstan, Nigeria, the United Kingdom, the US and Venezuela.

US Gulf of Mexico and the offshore areas of Western Australia and western Africa are Chevron's major exploration areas. The company was founded in 1984 and is headquartered in San Ramon, California, US.

NRI Energy Technology

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Saudi Aramco operates the world's biggest offshore oil field Safaniya.
Gazprom of Russia is the second biggest oil and gas company in the world.
Abouzar is the biggest offshore oil field of the National Iranian Oil Company (NIOC).
ExxonMobil is the largest publicly traded oil and gas company in the world.
PetroChina produced 916.5 million barrels of crude oil in 2012.
Mexican company Pemex produced 2.548 million barrels of crude oil per day in 2012.
BP, the seventh largest oil and gas company, is headquartered in London.
Ormen Lange in Norway is one of the major gas fields of Royal Dutch Shell.
Kuwait Petroleum Corporation ranks as the ninth biggest oil and gas company.
Chevron's net oil-equivalent production averaged 2.61 million barrels a day in 2012.