Financial records show that 28 of the largest producers made close to $100 billion in combined profits in just the first three months of 2022, proving that the chaos of war and climate breakdown has been profitable for the world’s top oil and gas businesses.
Major fossil fuel companies enjoyed a jackpot in the first quarter of the year, earning $93.3 billion in total profits because to rising oil commodity prices that followed the upheaval brought on by Russia’s invasion of Ukraine.
These Are The Largest Oil Companies In The World 2024
10. Phillips 66 (PSX) – Net Income $1.3 billion
With the help of gasoline pipeline pig and storage facilities, American crude refiner Phillips 66 runs 13 refineries throughout the United States and Europe.
It holds a 50% ownership in a joint venture for chemicals that has made investments in close to 30 global plants and two American research facilities.
9. Valero Energy Corporation Net Income : $930 million
Leading U.S. crude refiner Valero operates 12 refineries, the majority of which are concentrated on the Gulf Coast. It also has facilities in Canada and the United Kingdom.
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8. Marathon Petroleum Corp. Net Income : $9.7 billion
Marathon is a corporation that refines crude oil. The business refines and ships petroleum products to consumers all around the United States. Thousands of miles of petroleum pipelines are either owned by Marathon or are under lease to it.
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7. Chevron Corp. (CVX) Net Income :$15.6 billion
Oil and gas exploration and production are handled by the upstream division, while downstream operations include refining, shipping, and marketing.
Chevron is also active in non-energy ventures like technological development, mining, and chemical operations.
6. BP PLC (BP)
The oil and petrochemical industries are explored, produced, and supplied by the British oil firm BP. Acetic acid, ethylene, polyethylene, and terephthalic acid are just a few of the chemicals that the corporation refines and distributes along with other petroleum-based goods. BP produces solar energy as well, which it sells.
5. TotalEnergies SE (TOT)
Exxon Mobil operates as a global oil and petrochemical company. Oil and natural gas are explored, produced, traded, moved, and sold by the corporation. Through coal and mineral operations, it is also involved in the production of electrical power.
Exxon Mobil sells a variety of goods, including fuel, lubricants, and other compounds made from petroleum. By market value, Exxon Mobil is the second-largest oil company in the world, only after Saudi Aramco.
4. Exxon Mobil Corp.
Exxon Mobil operates as a global oil and petrochemical company. Oil and natural gas are explored, produced, traded, moved, and sold by the corporation. Through coal and mineral operations, it is also involved in the production of electrical power.
Exxon Mobil sells a variety of goods, including fuel, lubricants, and other compounds made from petroleum. By market value, Exxon Mobil is the second-largest oil company in the world, only after Saudi Aramco.
3. China Petroleum & Chemical Corp.
Net Income : $14.3 billion
A range of petrochemical and petroleum products are produced and distributed by China Petroleum & Chemical.
Among other offerings, the company’s products include chemical fertilizers, synthetic rubbers and resins, jet fuel, diesel, and kerosene. China Petroleum & Chemical, also known as Sinopec, is one of the biggest gas, petrochemical, and oil refining enterprises in the world.
2. PetroChina Co. Ltd. Net Income : $13 billion
One of the leading oil and gas producers on the planet, PetroChina is the publicly traded division of the state-owned China National Petroleum Corporation.
Oil, gas, and petroleum products, including petrochemicals, are the focus of PetroChina’s exploration, development, production, and selling activities.
1. Saudi Arabian Oil Co. (Saudi Ara (Tadawul: 2222) Net Income : $330.3 billion
One of the biggest corporations in the world across all sectors, Saudi Aramco is also the biggest oil firm in the world in terms of revenue. The only company on this list that isn’t traded in the US is this one.
The second-largest reserve in the world is under the authority of the nation’s top oil producer, Saudi Arabia, which also runs a sizable refining industry.
