World Top 10 Largest Oil and Gas Companies
10. Kuwait Petrol Corporation — 3.2 million barrels per day -In 1934 the Kuwait Oil Company was created by the companies we know today as BP and Chevron. Over the next 40 years, exploration and development expanded the production potential of the Kuwaiti oilfields. In 1975, the Kuwait government took over the Kuwait Oil Company and by 1980 had nationalized the oil industry under the new Kuwait Petroleum Organization (KPO).
9. Chevron — 3.5 million barrels per day -The discovery of oil in California in 1879 led to the creation of the Pacific Coast Oil Company (PCOC). Over the following decades, the PCOC joined other companies and experienced reorganization and several name changes. In 1984, now known as Standard Oil of California, the company merged with Gulf Oil in what was the biggest merger of that time. The following reorganization saw the company renamed Chevron Corporation.
8. Petroleos Mexicanos (Pemex) — 3.6 million barrels per day -In the early 20th century, American and British oil companies were developing and refining petroleum in Mexico. The Mexican government saw the potential in such industry and moved quickly to support striking oil workers in 1938. Citing the Mexican Constitution, the government took over all foreign facilities and nationalized the oil industry.
7. Royal Dutch Shell — 3.9 million barrels per day -One of the largest gas companies in the world, Royal Dutch Shell was created in 1907 by the merging of Royal Dutch Petroleum and the Shell Transport and Trading Company of Britain. Perhaps best known in North America for its gas stations, automotive oils and association with Formula One racing, Shell’s oil and gas interests stretch across the globe.
6. BP — 4.1 million barrels per day -British Petroleum’s origins date back to 1909 with the start-up of the Anglo-Persian Oil Company. Over the years the company changed names and expanded its drilling operations from the Middle East to Alaska and the North Sea. At one time, the company was the second largest oil company in the world. After the 2010 Deepwater Horizon spill, however, the company sold off a number of assets to help pay for the $4.5 billion in penalties, fines and legal fees.
5. PetroChina — 4.4 million barrels per day -This Chinese state-controlled company is likely to move up this list quickly in the coming years. PetroChina is the largest Chinese oil and gas company. Founded in 1999, this company’s annual revenue is reportedly $325 billion, although this figure will likely be much higher once recent market data is released. In worldwide development, PetroChina is involved in Africa, in Australia, where it signed a $50 billion contract for Australia natural gas,
4. ExxonMobil — 5.3 million barrels per day -This company has its origins in John D. Rockefeller’s Standard Oil Company. When Rockefeller was forced to break up his company because of antitrust laws in 1911, two of the companies created were Jersey Standard and Socony. Over the years these two companies transformed into Exxon and Mobil, respectively.
3. National Iranian Oil Company — 6.4 million barrels per day -The National Iranian Oil Company holds third place among the world’s largest oil and gas producers. This company has its origins in the early 20th century when the British discovered and successfully began exploiting Iran’s oil with the Anglo-Persian Oil Company.
2. Gazprom — 9.7 million barrels per day -Officially known as Open Joint Stock Company Gazprom, Gazprom is the world’s largest natural gas company. Created in 1989, a majority of the company is held by the Russian state while a small portion is privately owned. The company was able to grow significantly in the 1990s thanks to the fact that Gazprom’s chairman was appointed Prime Minister of Russia. Don’t be fooled by the ‘mere’ $150 billion annual revenue and $40 billion annual profits of this company.
1. Saudi Aramco — 12 million+ barrels per day -Sa
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