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Which Companies Are Responsible For the Most Carbon Emissions?

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Carbon Emissions 20 Companies Correction

20 Companies Responsible For the Most Carbon Emissions?

Since 1965, it’s estimated over 1.35 trillion metric tons of greenhouse gases have been released into the atmosphere—and over a third can be traced back to just 20 companies.

This week’s chart draws on a dataset from the Climate Accountability Institute, and highlights the companies which have been responsible for the most carbon emissions in the past half-century.

Note: Carbon emissions are measured in MtCO₂e: Megatonnes of CO₂ equivalent (Millions).

The Sum of their Carbon Emissions

Between 1965-2017, the top 20 companies have contributed 480,169 MtCO₂e in total carbon emissions, or 35% of cumulative global emissions. This whopping amount is mostly from the combustion of their products—each company on this chart deals in fossil fuels.

The largest contributor? Saudi Aramco, the national petroleum and natural gas company of Saudi Arabia. Saudi Aramco actually comes in first on another list as well—it’s the most profitable company, making over $304 million daily.

However, this financial gain came at a significant cost: the state-owned giant’s operations have resulted in 59,262 MtCO₂e in carbon emissions since 1965. To put that into perspective, this total is more than six times China’s emissions in 2017 alone (9,838 MtCO₂e).

Explore the full list of companies by location, who owns them, and their total 1965–2017 emissions count below:

CompanyCountryOwnershipAll Emissions, MtCO₂e
Saudi Aramco🇸🇦 Saudi ArabiaState-owned59,262
Chevron🇺🇸 U.S.Investor-owned43,345
Gazprom🇷🇺 RussiaState-owned43,230
Exxon Mobil🇺🇸 U.S.Investor-owned41,904
National Iranian Oil Co.🇮🇷 IranState-owned35,658
BP🇬🇧 UKInvestor-owned34,015
Royal Dutch Shell🇳🇱 NetherlandsInvestor-owned31,948
Coal India🇮🇳 IndiaState-owned23,124
Pemex🇲🇽 MexicoState-owned22,645
Petroleus de Venezuela🇻🇪 VenezuelaState-owned15,745
PetroChina🇨🇳 ChinaState-owned15,632
Peabody Energy🇺🇸 U.S.Investor-owned15,385
ConocoPhillips🇺🇸 U.S.Investor-owned15,229
Abu Dhabi National Oil Co.🇦🇪 UAEState-owned13,840
Kuwait Petroleum Corp.🇰🇼 KuwaitState-owned13,479
Iraq National Oil Co.🇮🇶 IraqState-owned12,596
Total SA🇫🇷 FranceInvestor-owned12,352
Sonatrach🇩🇿 AlgeriaState-owned12,302
BHP Billiton🇦🇺 AustraliaInvestor-owned9,802
Petrobras🇧🇷 BrazilState-owned8,676
Total Emissions480,169 MtCO₂e

A Greener Business Model?

According to the researchers, all the companies that show up in today’s chart bear some responsibility for knowingly accelerating the climate crisis even after proven scientific evidence.

In fact, U.S.-based Exxon Mobil is currently on trial for misleading investors: the company downplayed the effect of climate change on its profitability, while internal calculations proved to be much larger. It also sowed public doubt on the immense impacts of rising greenhouse gas levels on the planet.

Growing sustainability and environmental concerns threaten the viability of old business models for these corporations, causing many to pivot away from the fossil fuel focus. Take BP for example—originally named British Petroleum, the company embraced “Beyond Petroleum” as its new rallying cry. More recently, it launched a carbon footprint calculator and is committed to keeping its carbon emissions flat into 2025.

However, the Climate Accountability Institute argues that more can still be done, with the researchers calling for these companies to reduce their fossil fuel production in the near future.

Continued pressure on these “Big Oil” companies to peak their carbon emissions, and urgently increase their renewable energy investment, may help curb the climate crisis before it’s too late.

Correction: A previous version of this article mistakenly reported the total cumulative value of carbon emissions in millions instead of trillions. Both the article and graphic have been updated to reflect the changes accurately.

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Energy

The World’s Biggest Oil Producers in 2023

Just three countries accounted for 40% of global oil production last year.

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Donut chart showing the biggest oil producers by country in 2023.

The World’s Biggest Oil Producers in 2023

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email.

Despite efforts to decarbonize the global economy, oil still remains one of the world’s most important resources. It’s also produced by a fairly limited group of countries, which can be a source of economic and political leverage.

This graphic illustrates global crude oil production in 2023, measured in million barrels per day, sourced from the U.S. Energy Information Administration (EIA).

Three Countries Account for 40% of Global Oil Production

In 2023, the United States, Russia, and Saudi Arabia collectively contributed 32.7 million barrels per day to global oil production.

Oil Production 2023Million barrels per day
🇺🇸 U.S.12.9
🇷🇺 Russia10.1
🇸🇦 Saudi Arabia9.7
🇨🇦 Canada4.6
🇮🇶 Iraq4.3
🇨🇳 China4.2
🇮🇷 Iran3.6
🇧🇷 Brazil3.4
🇦🇪 UAE3.4
🇰🇼 Kuwait2.7
🌍 Other22.8

These three nations have consistently dominated oil production since 1971. The leading position, however, has alternated among them over the past five decades.

In contrast, the combined production of the next three largest producers—Canada, Iraq, and China—reached 13.1 million barrels per day in 2023, just surpassing the production of the United States alone.

In the near term, no country is likely to surpass the record production achieved by the U.S. in 2023, as no other producer has ever reached a daily capacity of 13.0 million barrels. Recently, Saudi Arabia’s state-owned Saudi Aramco scrapped plans to increase production capacity to 13.0 million barrels per day by 2027.

In 2024, analysts forecast that the U.S. will maintain its position as the top oil producer. In fact, according to Macquarie Group, U.S. oil production is expected to achieve a record pace of about 14 million barrels per day by the end of the year.

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