What are the top 10 largest oil and gas companies in the world in 2024? Oil is a major source of energy worldwide and oil companies supply billions of barrels of petroleum products daily to power transportation and industry. The largest oil companies in the world by market cap are based in Saudi Arabia, the United States, China, the UK, and France.
Saudi Arabian oil company Saudi Aramco is the world’s largest integrated oil and gas company. It is followed by Exxon and Chevron by the highest market cap. Here we have compiled a list of the top 10 largest oil and gas companies in the world by market cap. Let’s check it out!
10. Sinopec – $97 billion
- Market cap: $97 billion
- Revenue: $473 billion
- Country: China
Sinopec is a Chinese oil and gas enterprise based in Beijing, one of the top 10 largest oil and gas companies in the world. The company is listed in Hong Kong and also trades in Shanghai.
Additionally, Sinopec Group, the parent company of Sinopec Limited, is the world’s largest oil refining, gas and petrochemical group, headquartered in the Chaoyang District of Beijing.
It also produces ethanol from waste vegetable oil and several biofuels such as biodiesel and green jet fuel. Sinopec was established in February 2000 as a joint-stock entity under the China Petrochemical Corporation Group. The company was simultaneously listed in Hong Kong, New York and London in 2000.
See Also: Largest Oil Reserves In The World
09. BP – $98 billion
- Market cap: $98 billion
- Revenue: $210 billion
- Country: United Kingdom
BP is a British multinational oil and gas company headquartered in London, England. It is one of the oil and gas “supermajors” and one of the largest oil and gas companies in the world based on revenue and profits.
Also, it is a vertically integrated company operating in all sectors of the oil and gas industry, including exploration and extraction, refining, distribution and marketing, power generation, and trading.
Worldwide, BP had consolidated sales of $396 billion in 2012 and employed 83,900 people. The company has proven reserves of 17.0 billion barrels of oil equivalent worldwide. The company has approximately 20,700 petrol stations and serves 13 million customers every day.
08. ConocoPhillips – $129 billion
- Market cap: $129 billion
- Revenue: $56 billion
- Country: United States
ConocoPhillips Company is an American multinational corporation engaged in hydrocarbon exploration and production. It is based in the Energy Corridor district of Houston, Texas. It is an international energy company and is considered the third-largest oil company in the US.
The company has operations in 15 countries and production in the United States, Norway, Canada, Australia, Indonesia, Malaysia, Libya, China, and Qatar. The company’s production in the United States included production in Alaska, the Eagle Ford Group, the Permian Basin, the Bakken Formation, the Gulf of Mexico, and the Anadarko Basin.
ConocoPhillips has a market cap of $129 billion, making it the 101st most valuable company in the world by market cap. In the 2023 Forbes Global 2000, ConocoPhillips was ranked as the 83rd largest public company in the world.
07. CNOOC – $143 billion
- Market cap: $143 billion
- Revenue: $65 billion
- Country: China
China National Offshore Oil Corporation (CNOOC) is the third-largest national oil company in China, after CNPC (the parent company of PetroChina) and China Petrochemical Corporation (the parent company of Sinopec). CNOOC is one of the world’s largest oil and gas companies in 2024.
Additionally, the CNOOC Group focuses on the exploitation, exploration, and development of crude oil and natural gas in offshore China with its subsidiary COOEC. The company is owned by the government of the People’s Republic of China, and SASAC assumes shareholder rights and obligations on behalf of the government.
Also, CNOOC was ranked as the 126th largest public company in the world. Also, the company had a seat 85 in the Forbes Global 2000 in 2023.
06. TotalEnergies – $151 billion
- Market cap: $151 billion
- Revenue: $218 billion
- Country: France
TotalEnergies has a market cap of $151 billion, making it the 87th most valuable company in the world by market cap. totalEnergies SE is a French multinational integrated energy and petroleum company founded in 1924 and one of the seven major oil companies.
The company’s business covers the entire oil and gas chain, from exploration and production of crude oil and natural gas to power generation, transportation, refining, petroleum product marketing, and international crude oil and product trading. TotalEnergies is also a large-scale chemicals manufacturer.
The company is a component of the Euro Stoxx 50 stock market index. In the 2023 Forbes Global 2000, TotalEnergies was ranked the 21st-largest public company in the world.
See Also: Biggest Companies In The World
05. Shell – $220 billion
- Market cap: $220 billion
- Revenue: $316 billion
- Country: United Kingdom
Royal Dutch Shell is one of the largest mineral oil and natural gas companies in the world by 2024. The Shell Group is active in more than 140 countries and employs approximately 83,000 people worldwide. The company was formed in 1907 by the merger of the Royal Dutch Petroleum Company of the Netherlands and the “Shell” Transport and Trading Company of the United Kingdom.
Shell plc is a British multinational oil and gas company headquartered in London. It is a public limited company with a primary listing on the London Stock Exchange (LSE) and secondary listings on Euronext Amsterdam and the New York Stock Exchange.
A key component of Big Oil, Shell is the world’s second-largest investor-owned oil and gas company by revenue (after ExxonMobil), and one of the world’s largest companies outside any industry.
At the same time, the combined company quickly became a leading competitor to American Standard Oil, and by 1920 Shell was the world’s largest producer of oil.
04. PetroChina – $243 billion
- Market cap: $243 billion
- Revenue: $424 billion
- Country: China
PetroChina Company Limited is a Chinese oil and gas company and the listed arm of the state-owned China National Petroleum Corporation (CNPC), headquartered in Dongcheng District, Beijing. It is the largest Chinese oil company with a network of over 18,000 filling stations, making it one of the largest listed companies in the world.
PetroChina has a market cap of $243 billion, making it the 51st most valuable company in the world by market cap. It is also one of the largest oil and gas companies in the world. Also, the company is currently Asia’s largest oil and gas producer.
Additionally, the mainland enterprise, which is traded in Hong Kong and New York, announced its plan to issue stock in Shanghai in November 2007, and subsequently entered the constituents of the SSE 50 Index. In the 2020 Forbes Global 2000, PetroChina was ranked the 32nd largest public company in the world.
03. Chevron – $284 billion
- Market cap: $284 billion
- Revenue: $196 billion
- Country: United States
Chevron is one of the world’s largest companies and the second-largest oil company based in the United States by revenue, after fellow Standard Oil descendant ExxonMobil. It is an American multinational energy corporation that specializes primarily in oil and gas.
The second-largest direct descendant of Standard Oil, and originally known as Standard Oil Company of California (shortened to SoCal or CalSo). The company is headquartered in San Ramon, California, and is active in over 180 countries.
Within oil and gas, Chevron is vertically integrated and is involved in hydrocarbon exploration, production, refining, marketing and transportation, chemicals manufacturing and sales, and power generation.
Chevron was ranked 10th in the Fortune 500 in 2023. The company is also the last-remaining oil and gas component of the Dow Jones Industrial Average since ExxonMobil’s exit from the index in 2020.
02. Exxon Mobil – $496 billion
- Market cap: $496 billion
- Revenue: $334 billion
- Country: United States
ExxonMobil Corporation is an American multinational oil and gas corporation and the largest direct descendant of John D. Rockefeller’s Standard Oil. The company’s current revenue is $334 billion according to ExxonMobil’s latest financial reports.
The company is headquartered near the Houston suburb of Spring, Texas, although it is officially incorporated in the U.S. state of New Jersey. It is the largest oil and gas producing company based in the United States. ExxonMobil is the 10th largest company in the world by revenue and the third largest in the U.S.
ExxonMobil is one of the largest and most powerful companies in the world. Since its merger, the company has grown from the first to the tenth largest publicly traded company by revenue, and has the highest market capitalization of any company.
In the most recent rankings released in the Fortune 500, ExxonMobil was ranked third on the Fortune Global 500 and twelfth on the Fortune Global 500. It is the world’s largest investor-owned oil company, the largest oil company headquartered in the Western world.
See Also: Largest Economies In The World
01. Saudi Aramco – $1.7 trillion
- Market cap: $1.78 trillion
- Revenue: $495 billion
- Country: Saudi Arabia
Saudi Aramco is the largest oil and gas company in the world by 2024. It is a Saudi Arabian public petroleum and natural gas company based in Dhahran. It has repeatedly achieved the largest annual profits in global corporate history.
Saudi Aramco has the world’s second-largest proven crude oil reserves, at over 270 billion barrels (43 billion cubic meters), and the largest daily oil production of all oil producing companies. It has the largest contribution to global carbon emissions of any company in the world since 1965.
On 11 May 2022, Saudi Aramco became the world’s largest company by market cap, surpassing Apple Inc. Saudi Aramco operates the world’s largest single hydrocarbon network, the Master Gas System. Along with the Eastern Province, Saudi Aramco notably operates the world’s largest Ghawar Field and Safaniya Field.
