18 World’s Biggest Oil and Gas Companies

18 World’s Biggest Oil and Gas Companies

18 World’s Biggest Oil and Gas Companies-According to the Annual Report of Oil and Gas Companies in 2022, there are 18 Biggest Oil and Gas Companies in the World. This company certainly has abundant assets with profits of up to billions of US dollars. As we all know, these companies certainly have abundant oil and gas production and with huge oil and gas deposits, this can be processed into some derivative products for example diesel fuel, heating oil, jet fuel, petrochemical feedstocks, waxes, lubricating oils, and asphalt.


18 World’s Biggest Oil and Gas Companies in 2022

Oil and gas are natural resources found under the earth’s surface. Some companies try to find and process it into useful products for humans. Along with the passage of time and technological developments and industries, the need for oil and gas has been increasing day by day. Many transportations, manufacturers, and most of the global economy was driven by the availability of oil and gas.

From Time to time, in this world, there are some largest Oil and gas companies. Many of these companies have huge deposits of oil and gas. They can produce many products that people need. Here are the ranks of 18 World’s Biggest Oil and Gas Companies. The following is the company’s performance based on the net profit generated in 2022. This data came from the Annual Report of oil and gas companies in 2022.

Table Rank of Biggest Oil and Gas Companies Based on Net Income in 2022

Number Name of CompanyRevenueRevenueNet IncomeNet Income
Origin CurrencyUS Dollar Origin CurrencyUS Dollar
1Saudi AramcoUSD 535 Billion USD 535 Billion USD 161 Billion USD 161 Billion
2Exxon Mobil USD 413 Billion USD 413 Billion USD 55.7 BillionUSD 55.7 Billion
3ConocoPhillipsUSD 93.8 BillionUSD 93.8 BillionUSD 45.8 BillionUSD 45.8 Billion
4Royal Dutch ShellUSD 386 Billion USD 386 Billion USD 42.8 Billion USD 42.8 Billion
5Qatar EnergyQR 196 BillionUSD 52.9 BillionQR 154 BillionUSD 41.5 Billion
6PetrobrasUSD 124 BillionUSD 124 BillionUSD 36.7 BillionUSD 36.7 Billion
7ChevronUSD 246 Billion USD 246 Billion USD 35.4 Billion USD 35.4 Billion
8Equinor USD 149 BillionUSD 149 BillionUSD 28.7 BillionUSD 28.7 Billion
9PetrochinaRMB 3,239 Billion USD 453 BillionRMB 163 Billion USD 22.8 Billion
10TotalUSD 280 Billion USD 280 Billion USD 21 Billion USD 21 Billion
11PetronasRM 333 BillionUSD 69.9 BillionRM 101 BillionUSD 21 Billion
12Eni EUR 133 Billion USD 139 BillionEUR 13.9 Billion USD 14.5 Billion
13Marathon Petroleum USD 179 Billion USD 179 Billion USD 14.5 Billion USD 14.5 Billion
14Valero USD 176 Billion USD 176 Billion USD 11.8 Billion USD 11.8 Billion
15Phillips 66USD 175 Billion USD 175 Billion USD 11 Billion USD 11 Billion
16SinopecRMB 96.4 Billion USD 13.4 BillionRMB 75.7 BillionUSD 10.5 Billion
17Kuwait National PetroleumKD 544 Million USD 1.7 BillionKD 344 Million USD 1.1 Billion
18British PetroleumUSD 248 Billion USD 248 Billion (USD -1.3 Billion )(USD -1.3 Billion )
Description : Origin Currency = Currency officially used in the Annual Report of 2022
Source : Annual Report, 2022
Currrency Rate :
1 Renminbi (RMB)= 0.14 US Dollar (USD)
1 Euro = 1.05 US Dollar (USD)
1 Russian Rubles(RUB) = 0.014 US Dollar (USD)
1 Dinar Kuwat (KD) = 3.23 US Dollar (USD)
1 Qatari Riyald (QR) = 0.27 US Dollar (USD)
1 Ringgit Malaysia (RM) = 0.21 US Dollar (USD)

Beside the revenue and the net income, there is some additional data related to the financial position of the oil and gas companies i.e., assets and liabilities. This data came from the Balance Sheet, Company Annual Report in 2022.

Table Rank of Biggest Oil and Gas Companies Based on Assets in 2022

Number Name of CompanyAssetsAssetsLiabilitiesLiabilities
Origin CurrencyUS Dollar Origin CurrencyUS Dollar
1Saudi AramcoUSD 664 Billion USD 664 Billion USD 220 Billion USD 220 Billion
2Royal Dutch ShellUSD 443 Billion USD 443 Billion USD 250 Billion USD 250 Billion
3PetrochinaRMB 2,673 Billion USD 374 BillionRMB 1,135 Billion USD 158 Billion
4Exxon Mobil USD 369 Billion USD 369 Billion USD 166 Billion USD 166 Billion
5TotalUSD 303 Billion USD 303 Billion USD 189 Billion USD 189 Billion
6British PetroleumUSD 288 Billion USD 288 Billion USD 205 Billion USD 205 Billion
7ChevronUSD 257 Billion USD 257 Billion USD 97 Billion USD 97 Billion
8PetrobrasUSD 187 BillionUSD 187 BillionUSD 116 BillionUSD 116 Billion
9Eni EUR 152 Billion USD 159 BillionEUR 96.9 Billion USD 101 Billion
10SinopecRMB 1,141 BillionUSD 159 BillionRMB 636 BillionUSD 89 Billion
11Qatar EnergyQR 590 BillionUSD 159 BillionQR 87.3 BillionUSD 23.5 Billion
12EquinorUSD 158 BillionUSD 158 BillionUSD 104 BillionUSD 104 Billion
13PetronasRM 710 BillionUSD 149 BillionRM 250 BillionUSD 52 Billion
14Marathon Petroleum USD 89.9 Billion USD 89.9 Billion USD 54.8 Billion USD 54.8 Billion
15ConocoPhillipsUSD 82.1 BillionUSD 82.1 BillionUSD 18.6 BillionUSD 18.6 Billion
16Phillips 66USD 76.4 Billion USD 76.4 Billion USD 42.3 Billion USD 42.3 Billion
17Valero USD 60.9 Billion USD 60.9 Billion USD 35.5 Billion USD 35.5 Billion
18Kuwait National PetroleumKD 10.29 Billion USD 32 BillionKD 8.3 Billion USD 26 Billion
Description : Origin Currency = Currency officially used in the Annual Report of 2022
Source : Annual Report, 2022
Currrency Rate :
1 Renminbi (RMB)= 0.14 US Dollar (USD)
1 Euro = 1.05 US Dollar (USD)
1 Russian Rubles(RUB) = 0.014 US Dollar (USD)
1 Dinar Kuwat (KD) = 3.23 US Dollar (USD)
1 Qatari Riyald (QR) = 0.27 US Dollar (USD)
1 Ringgit Malaysia (RM) = 0.21 US Dollar (USD)


Brief Description of the World’s Biggest Oil and Gas Companies in 2022


1. Saudi Aramco

The Saudi Arabian Oil Company or commonly known as Saudi Aramco is one of the world’s biggest oil and gas companies. This Company was founded on 29 May 1933 and has a main office in Dhahran, Saudi Arabia.  This company has abundant resources of oil gas with Total hydrocarbon reserves 255.2 billion Barrel of Oil Equivalent (BOE) and Total reserves of crude oil and condensate around 198.8 billion barrels. Operationally, this company has Gross refining capacity of 6.4 million barrels per day (mmbpd).


18 World’s Biggest Oil and Gas Companies- Saudi Aramco

In 2019, Aramco becomes a public company with shares listed on Tadawul or Saudi Stock Exchange. Aramco achieves a historic highest single day crude oil production of 12.1 million barrels per day (mmbpd) and highest single day natural gas production of 10.7 billion Standard Cubic Feet per Day (BSCFD). Aramco completes its historic acquisition of a 70% stake in SABIC or Saudi Basic Industries Corporation. Financially, in 2022, the company generated 535 billion US Dollar of revenue and net income reached 161 billion US Dollar. This performance stated that Saudi Aramco is still the biggest of oil and gas companies based on revenue and net income.

2. PetroChina

18 World’s Biggest Oil and Gas Companies- PetroChina

PetroChina Company Limited or commonly known as PetroChina is one of the biggest ones. The Company was established as a joint stock company with limited liability under the Company Law of the People’s Republic of China (the “PRC” or “China”) (the “Company Law”) on November 5, 1999, as part of the restructuring of China National Petroleum Corporation (“CNPC”). Operationally, this company has a main office in Dongzhimen North Street, Dongcheng District, Beijing. Financially, in 2022, the revenue of the company reached RMB 3,239 billion or equivalent with USD 453 billion US Dollar, meanwhile this company gained net Income of RMB 163 billion RMB or equivalent with 22.8 billion US Dollar.

3. Royal Dutch Shell

Royal Dutch Shell plc is an Anglo-Dutch multinational oil and gas company. This company has two main offices i.e., Haagse Hout, The Hague,​ Netherlands (Headquarters) and Shell Centre, London,​ England, UK (Registered office). Historically, this company was founded in April 1907 by Marcus & Samuel, Jean B.A. Kessler, Henri Deterding, and Hugo Loudon.


18 World’s Biggest Oil and Gas Companies- Royal Dutch Shell

Operationally, in 2020, the production of Crude oil and natural gas liquids reached 1.7 million Barrels of Oil Equivalent Per Day (BOE/D), Synthetic crude oil 51 thousand Barrels of Oil Equivalent Per Day (BOE/D), Natural gas [B] 1,583 thousand Barrels of Oil Equivalent Per Day (BOE/D). Financially, in 2022, the revenue of Royal Dutch Shell reached 386 billion US Dollar and gained net income around USD 42.8 Billion USD.

4. Exxon Mobil

Exxon Mobil Corporation was founded on November 30, 1999, with a merger between Exxon and Mobil. Along with the development of the company, the number of regular employees was seventy-two thousand in 2020. This company has some exploration areas in some countries especially they initiated oil and gas exploration activities in Guyana in 2008.


18 World’s Biggest Oil and Gas Companies- Exxon Mobil

In 2020, the production of total’s crude oil reached 1.6 million barrels per day and 276 thousand barrels per day of natural gas liquids production. Financially, in 2022, the company generated revenue of 413 billion US Dollar and gained net income around 55.7 billion US Dollar.

5. Sinopec

18 World’s Biggest Oil and Gas Companies- Sinopec

China Petroleum & Chemical Corporation or commonly known as Sinopec is a Chinese oil and gas company founded in February 2000. Operationally, Sinopec still has a main office in Chaoyang, Beijing, China. Financially, in 2022, according to the annual report, Sinopec is still in good positive performance which successfully gained revenue around RMB 96.4 billion / USD 13.4 Billion with Net Income around RMB 75.7 billion/ USD 10.5 Billion.

6. British Petroleum

18 World’s Biggest Oil and Gas Companies- British Petroleum

The British Petroleum Company plc is the next British-based company that became the biggest oil and gas company. This company was founded by William Knox D’Arcy and Charles Greenway in April 1909. Operationally, this company has a main office in London, England. In 2022, based on annual report, the company can generate revenue of 248 billion US Dollar but suffered net loss reach (-1.3 Billion US Dollar)

7. Total

18 World’s Biggest Oil and Gas Companies- Total Energy

Total is oil and gas company from Europe that became the biggest oil and gas company. Operationally, this company has a main office in Tour Total, Courbevoie, France. Historically, this company was founded by Ernest Mercier and Raymond Poincaré. Statistically, based on the performance in 2020, this company can produce Hydrocarbons with Liquids 69 thousand barrels per day (kb/d) and Gas 2,519 one thousand cubic feet /day (Mcf/d). Financially, in 2022, the revenue of the company reached USD 280 billion and gained net income around USD 21 Billion.

8. Chevron

18 World’s Biggest Oil and Gas Companies- Chevron

Chevron Corporation is the oldest company in the oil and gas industry. This company was founded on September 10, 1879, and has a main office in San Ramon, California. Statistically, the production of oil exploration activities reach 3.08 million barrels net oil per day which has Reverse of oil reach 11.1 billion barrels. Financially, in 2022, Chevron generated revenue of 246 billion US Dollar and gained  net income around USD 35.4 Billion US Dollar.

9. Eni

18 World’s Biggest Oil and Gas Companies- Eni

Eni S.p.A is an Italian-based company that has a main office in Rome, Italy. Historically, this company was founded on 10 February 1953. Statistically the company has Hydrocarbon’s production 1.73 million Barrels of Oil Equivalent per day (mmboe/d) with Net proved reserves 6.9 barrel of oil equivalent (bboe) in 2020. Financially, in 2022, the company has revenue around 133 billion Euro or equivalent with USD 139 billion and gained net income around EUR 13.9 billion or equivalent with 14.5 Billion US Dollar.

10. Marathon Petroleum

18 World’s Biggest Oil and Gas Companies- Marathon Petroleum

Marathon Petroleum was founded on November 9, 2009, and has a main office in Findlay, Ohio, United States. Statistically, in 2020, the production of Gasoline reached 1,314 million Barrels Per Day (mbpd), Distillates 905 million Barrels Per Day (mbpd), Feedstocks and petrochemicals 244 million Barrels Per Day (mbpd), Asphalt 81 million Barrels Per Day (mbpd), Propane 51 million Barrels Per Day (mbpd), and Heavy fuel oil 28 million Barrels Per Day (mbpd). In 2022, financially, the company generated revenue of 179 billion US Dollar but gained net income of USD 14.5 Billion.

11.Equinor

18 World’s Biggest Oil and Gas Companies- Equinor

Equinor is Norwegian oil and gas company, which was founded in 1972 Along with business development, this company has employed around 21 thousand people and is present in around 30 countries. In their business performance, Equinox has 2,039 mboe/ day oil and gas production, 1,649 Gwh of renewable power generation, 2,661 Gwh of total power generation. Financially, in 2022, Equinox has gained USD 149 Billion of revenue with Net Income  around USD 28.7 Billion.

12. Phillips 66

18 World’s Biggest Oil and Gas Companies- Phillip66

The Phillips 66 Company that was formerly known as ConocoPhillips (2002–2012) was founded by L.E. Phillips and Frank Phillips. This company has a main office in Westchase, Houston, Texas, U.S. In 2022, the company’s revenue reached 175 billion but it gained net income around 11 billion US Dollar. 

13.Valero

18 World’s Biggest Oil and Gas Companies- Valero

Valero was founded on January 1, 1980, and has a main office in San Antonio, Texas, United States. Financially, in 2022, this company has revenue of 176 billion US Dollar and gained net income of USD 11.8 billion.  Along with development of the company, this company has 15 petroleum refineries that produce conventional gasolines, premium gasolines, reformulated gasoline, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel, low-sulfur diesel, ultra-low-sulfur diesel, CARB diesel, other distillates, jet fuel, asphalt, petrochemicals, lubricants, and other refined petroleum products.

14. Kuwait National Petroleum

18 World’s Biggest Oil and Gas Companies- Kuwait National Petroleum

The Kuwait National Petroleum Company (KNPC) was established in October 1960. Financially, in 2022, this company has Revenue of KD 544 million or equivalent with 1.7 billion US Dollar and gained net income of KD 344 million or equivalent with USD 1.1 Billion.

15. ConocoPhillips       

  

18 World’s Biggest Oil and Gas Companies- Conoco Phillips

ConocoPhillips Company is an American Oil and Gas company which has a main office in Houston, Texas. Historically, this company was founded on August 30, 2002, with the merger between Conoco Inc. and Phillips Petroleum Company.  Financially, in 2022, according to the annual report, ConocoPhillips gained revenue of USD 93.8 Billion with net income of USD 45.8 Billion.

16. Petronas     

18 World’s Biggest Oil and Gas Companies- Petronas

National Petroleum Limited or commonly known as Petronas is a Malaysian oil and gas company which was founded on August 17th, 1974. Operationally, this company still has main office in Petronas Towers, Kuala Lumpur, Malaysia. Along with business development, in 2022, Petronas has a total daily production average of 2,434 thousand barrels of oil equivalent (boe) per day. Financially, according to the annual report, Petronas gained revenue of RM 333 billion / USD 69.9 Billion with net income around RM 101 billion / USD 21 Billion.

17. Qatar Energy            

18 World’s Biggest Oil and Gas Companies- Qatar Energy

QatarEnergy is a state owned petroleum company of Qatar. Historically, this company was founded in 1974 still has main office in Doha Qatar. Financially, in 2022, according to the Annual Report of 2022, Qatar Energy gained revenue of QR 196 billion / USD 52.9 Billion with gaining net income around QR 154 billion / USD 41.5 Billion.

18. Petrobras   

 18 World’s Biggest Oil and Gas Companies- Petrobras

Petrobras is a Brazilian oil and gas company which was founded on October 3, 1953. This company still has a main office in Rio De Janeiro and has a number of employees around 45 thousand. Along with business development, Petrobras has produced 2.77 million barrels of oil equivalent a day with 5042 of production wells. Financially, in 2022, according to the Annual Report, Petrobras has gained revenue of USD 124 Billion with net income around USD 36.7 Billion.

The Summary of Biggest Oil and Gas Companies in 2022


18 World’s Biggest Oil and Gas Companies Based on Assets


18 World’s Biggest Oil and Gas Companies Based on Net Income

Bibliography of 18 World’s Biggest Oil and Gas Companies

Saudi Aramco. 2023. Annual Report 2022. Accessed via https://www.aramco.com/en/investors/annual-report on September 29th, 2023.

Exxon Mobil. 2023. Annual Report 2022. Accessed via https://investor.exxonmobil.com/sec-filings/annual-reports  on September 29th, 2023. 

ConocoPhillips. 2023. Annual Report 2022. Accessed via https://www.conocophillips.com/company-reports-resources/annual-report/ on September 29th, 2023.

Royal Dutch Shell. 2023. Annual Report 2022. Accessed via https://www.shell.com/about-us/annual-publications/annual-reports-download-centre.html  on September 29th, 2023.

Qatar Energy. 2023. Annual Report 2022. Accessed via https://www.qatarenergy.qa/en/pages/home.aspx on September 29th, 2023.

Petrobras. 2023. Annual Report 2022. Accessed via https://www.investidorpetrobras.com.br/en/presentations-reports-and-events/annual-reports/ on September 29th, 2023.

Chevron. 2023. Annual Report 2022. Accessed via https://www.chevron.com/-/media/chevron/annual-report/2022/documents/2022-Annual-Report.pdf on September 29th, 2023.

Equinor. 2023. Annual Report 2022. Accessed via https://www.equinor.com/investors/annual-reports  on September 29th, 2023. 

Petrochina. 2023. Annual Report 2022. Accessed via http://www.petrochina.com.cn/ptr/ndbg/202304/160574715e654711b0f723a3868f6e22/files/85e626beab274137ac1e8068de282d72.pdf  on September 29th, 2023.

Total. 2023. Annual Report 2022. Accessed via https://totalenergies.com/investors/publications-and-regulated-information/regulated-information/annual-financial-reports  on September 29th, 2023.

Petronas. 2023. Annual Report 2022. Accessed via https://www.petronas.com/media/reports  on September 29th, 2023.

Eni. 2023. Annual Report 2022. Accessed via https://www.eni.com/en-IT/investors/financial-results-and-reports.html  on September 29th, 2023. 

Marathon Petroleum. 2023. Annual Report 2022. Accessed via https://www.marathonpetroleum.com/Investors/Annual-Report-Proxy-Statement/ on September 29th, 2023. 

Valero. 2023. Annual Report 2022. Accessed via https://investorvalero.com/financials/default.aspx on September 29th, 2023. 

Phillips 66. 2023. Annual Report 2022. Accessed via https://investor.phillips66.com/financial-information/  on September 29th, 2023.

Sinopec. 2023. Annual Report 2022. Accessed via http://www.sinopec.com/listco/En/investor_centre/reports/annual_report/ on September 29th, 2023.

Kuwait National Petroleum. 2023. Annual Report 2022. Accessed via https://www.knpc.com/en/media/publications/periodic-publications/annual-report on September 29th, 2023.

British Petroleum. 2023. Annual Report 2022. Accessed via https://www.bp.com/en/global/corporate/investors/results-reporting-and-presentations/annual-report.html  on September 29th, 2023.

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