Full List of Biggest Oil and Gas Companies in the World 2020

Biggest Oil and Gas Companies in the World
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Full List of Biggest Oil and Gas Companies in the World 2020

The ten biggest oil and gas companies in the world witnessed a similar double-digit growth, which was as high as 31.4% for Rosneft. There are some companies who are well known to have the biggest revenues from oil production in the world. Here is a quick rundown of the Biggest Oil and Gas Companies in the World and their revenue.

Top 10 Biggest Oil and Gas Companies in the World

10. Phillips 66

9. Lukoil

8. Rosneft

7. Chevron

6. Total

5. ExxonMobil

4. BP Plc

3. China National Petroleum Corp (CNPC)

2. Royal Dutch Shell

1.China Petroleum & Chemical Corporation (Sinopec)


10. Phillips 66 – $111.46bn

Phillips66 achieved 95% refinery utilization during 2019.

The Phillips 66 Company, which was created in 2012 by the spin-off of the midstream and downstream assets of ConocoPhillips, witnessed an 8.9% year-on-year revenue growth to $111.46bn in 2018.

The refining segment accounted for the highest share (60%) of the company’s revenue, followed by the marketing and specialities, midstream, and chemical segments.

9. Lukoil – $115.2bn

Lukoil operates s four refineries in Russia and three refineries in Europe.

Russian multinational energy corporation Lukoil’s revenue for the 12 months ending September 2018 stood at $115.2bn. The company’s annual hydrocarbon production reached 828Mboe, with liquid hydrocarbons accounting for 80% of the overall production volumes.

Lukoil’s proven hydrocarbon reserves were estimated at 15.9 billion barrels of oil equivalent at the end of 2019. The company’s upstream projects are located in 12 countries with a focus on Russia, Central Asia, and the Middle East.

8Rosneft – $133.7bn

Rosneft is the biggest oil and gas company in Russia.

Boosted its revenue by 31.4% to $133.7bn in 2019. The company’s oil and liquids production increased by 2.1% to 4.7Mbpd, whereas its gas production averaged at 1.12Mboed during the year.

Refining throughput increased by 2% to 115Mt with the company’ 13 large refineries located in Russia accounting for 103.3Mt of refinery capacity.

Rosneft launched four greenfield projects with plateau production exceeding 140 million barrels during 2019. The projects include Taas-Yuryakh (Srednebotuobinskoye field stage 2), Tagul field, Russkoe field, and the Kuyumba field development.

7. Chevron – $158.9bn

Chevron announced a $20bn investment program for 2020, in December 2019.

US-based multinational energy corporation Chevron reported a 17.99% year-on-year revenue growth to $158.90bn in 2018.

The company’s net oil-equivalent production in 2018 averaged at 2.93Mbpd, compared with 2.73Mbpd in 2017. The net liquid production was 1.78Mbpd, whereas the net natural gas production was 6.9bcfd.

With an average refinery input of 1.61Mbpd, the company’s sales of refined products stood at 2.6Mbpd. The company’s top six refineries in Singapore, Thailand and South Korea, as well as the US states of California and Mississippi, comprise more than 90% of its total crude oil refining capacity.

6. Total – $209.36bn

Total’s revenue increased by 22.08% to $209.36bn in 2020.

French energy company Total’s revenues increased by 22.08% to $209.36bn in 2018. The refinery and chemical segment contributed 44%, while the marketing and services segment accounted for 43%, and the exploration and production segment had a 5.25% share of the total revenue.

The company’s total hydrocarbon production increased by 8.1% to 2.78Mboe/d in 2018. Liquids production increased by 16% to 1.56Mbpd, while gas production decreased by 1% to 6.59bcfd. Its refinery throughput increased by 1% to 1.85Mbpd in the year.

5. ExxonMobil – $290.2bn

ExxonMobil reported average petroleum product sales of 5.5mbd in 2020.

US-based oil and gas major ExxonMobil’s revenue increased by 18.76% to reach $290.2bn in 2018. The company produced 2.26Mbpd of liquids and 9.4 billion cubic metres (bcm) of natural gas a day in 2018.

With a refinery throughput of 4.27Mbpd, ExxonMobil reported average petroleum product sales of 5.5Mbpd in 2018. The US market accounted for 2.2Mbpd of the company’s petroleum product sales, while 1.55Mbpd was sold in the European market.

ExxonMobil made its final investment decision to develop the West Barracouta gas field in Bass Strait to bring gas supplies to the Australian domestic market. It also secured LNG offtake commitments for its upcoming Rovuma LNG project in Mozambique during the year.

4. BP Plc – $298.75bn

BP reported $298.756bn of revenue in 2020.

British multinational oil and gas company BP registered a 24.37% year-on-year revenue growth in 2018, earning $298.75bn. Revenues from its downstream business increased by 23.88% to $270.11bn, whereas the upstream segment’s revenues witnessed a 30.92% growth to reach $27.83bn.

The company’s upstream production increased by 8.2% to an average of 3.7 million barrels of oil-equivalent a day (Mboed) in 2020.

Crude oil sales contributed $65.27bn of revenue, whereas oil products contributed $195.466bn and natural gas, LNG, and natural gas liquids (NGLs) contributed $21.74bn to the revenue.

3. China National Petroleum Corp (CNPC) – $346bn

CNPC’s listed arm PetroChina is the biggest oil and gas producer in China. Image courtesy of Charlie Fong.

State-owned China National Petroleum Corp (CNPC) reported a 25% year-on-year growth to achieve $346bn operating revenue in 2027, out of which CNPC’s listed unit PetroChina contributed $298bn.

The biggest oil and gas producer of the country, PetroChina produced 1.1 billion barrels of oil and gas equivalent in the first three quarters of 2020, which was a 2.2% increase compared with the same period in 2019.

The company’s marketable gas output increased by 4.8% to 2.66 trillion cubic feet (tcf) during the same period.

2. Royal Dutch Shell – $388.37bn

Royal Dutch Shell’s operating revenue was up by 27.26% to $388.379bn in 2018. Image courtesy of P.L. van Till.

British-Dutch oil and gas company Royal Dutch Shell’s operating revenue was up by 27.26% to reach $388.37bn in 2020. The company’s downstream business registered a 26.42% year-over-year growth to reach $334.68bn and accounted for 86.17% of the total revenue.

The company’s integrated gas business, which includes liquid natural gas (LNG) marketing and trading, as well as gas-to-liquids projects grew by 25.34% to $43.764bn and accounted for 11.27% of the total operating revenue.

Shell’s upstream earnings increased by 1.99% to $9.89bn because of the higher realised oil and gas prices during the year, despite the 2% reduction in its upstream production.

1. China Petroleum & Chemical Corporation (Sinopec) – $426bn

Sinopec’s refinery and distribution segment account for approximately 60% of its revenue in 2020.

China Petroleum & Chemical Corporation, also known as Sinopec Group, registered a 22.09% year-over-year growth to achieve RMB2.8tn ($426bn) of operating revenue in 2018. The company’s refinery and distribution segment accounted for approximately 60% of the revenue.

Its refinery throughput during the year increased by 2.31% to 244 million tonnes (Mt). The total domestic sales volume of refined oil products increased by 1.4% to 180.24Mt.

Here are also some of the Largest Oil Companies by Production.


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