WORLD’S BIGGEST OIL COMPANIES

1 – Saudi Aramco

Headquarters: Dhahran, Saudi Arabia

Saudi Arabia manages its oil reserves through state-owned Saudi Aramco. In 2014, Saudi Aramco’s average daily oil production was 12 million barrels per day (B/D), making it the world’s largest private oil company by production. Aramco increased oil production amid a global glut that drove benchmark prices down almost 50 percent last year.

2 – Gazprom

Headquarters: Moscow, Russia

Russia’s state-owned Gazprom is the second biggest oil and gas company in the world. In 2014, the Group produced 443.9 billion cubic metres of gas, 14.5 million tonnes of condensate and 35.3 million tonnes of oil. Gazprom owns the world’s largest gas transmission system with its gas trunklines length exceeds 170.7 thousand kilometres.

3 – National Iranian Oil Company

Headquarters: Tehran, Iran

The National Iranian Oil Company ranks just behind Saudi Aramco in terms of size, but its output is about half of the Saudi company’s. In 2014, the Company’s average production was 6 million B/D. Iranian oil output will increase as soon as the country restarts its oil exports after the lifting of sanctions.

4 – ExxonMobil

Headquarters: Irving, Texas, USA

American multinational ExxonMobil is the fourth biggest oil and gas company in the world with, at the end of 2014, proved reserves totalling 25.3 billion oil-equivalent barrels. It processed five million barrels of crude per day and sold 6.174 million barrels of refined products per day in the year.

5 – PetroChina

Headquarters: Beijing, China

PetroChina is the fifth largest oil and gas company in the world. In 2014, the Company’s total crude oil output reached 945.5 million barrels. The Company processed 1,010.6 million barrels of crude oil and produced 92.671 million tonnes of refined products, performing relatively well in a number of technical and economic indicators.

6 – Pemex

Headquarters: Mexico City, Mexico

Mexican oil company Petróleos Mexicanos, or PEMEX, produced 3.6 million B/D in 2014. The company is involved in the exploration, exploitation, refining, transportation, storage, distribution and sale of crude oil and natural gas and their derivatives. The exploration and production of crude oil and natural gas are focused in Mexico, and offshore in the Gulf of Mexico.

7 – Kuwait Petroleum

Headquarters: Kuwait City, Kuwait

The Kuwait Petroleum Corporation, Kuwait’s national oil company, has exposure to multiple stages of oil production, including exploration, exploitation, refining, marketing and transportation. The Corporation was formed by integrating a few domestic oil companies and putting them under the control of the Kuwaiti government. Its average production in 2014 was 3.4 million B/D.

8 – ADNOC

Headquarters: Abu Dhabi, UAE

Abu Dhabi National Oil Company (ADNOC) was established in 1971 to manage the country’s oil and gas industry. In 2014, the company’s average production was 3.1 million B/D. At the beginning of 2016, according to the company, its average daily production was 2.7 million B/D.

9 – Qatar Petroleum

Headquarters: Doha, Qatar

The state-owned Qatar Petroleum is responsible for all phases of the oil and gas industry in Qatar, including exploration, production, sales and refining. In 2014, the company’s average production was 2.4 million B/D. Beyond oil and natural gas, Qatar Petroleum is also involved in synthetic fuels, petrochemicals, fuel additives, fertilizers, steel and aluminum.

10 – Sonatrach

Headquarters: Algiers, Algeria

Sonatrach is the largest oil and gas company in Algeria and across Africa. It operates in the exploration, production, pipeline transportation and marketing of hydrocarbons and byproducts. In 2014, Sonatrach’s average production was 2.2 million B/D. The company is diversifying, increasing its investments in power generation, renewable energy resources, water desalination and mineral exploration.