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Ranked: The Largest Oil and Gas Companies in the World

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Largest Oil and Gas companies

The Largest Oil & Gas Companies in 2021

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The pandemic brought strong headwinds for the oil and gas industry, and oil majors felt the blow.

Global primary energy consumption fell by 4.5% relative to 2019 and oil demand declined by 9%. For a brief period in April 2020, the price of West Texas Intermediate (WTI) crude futures went subzero, marking the largest one-day price plunge since 1983.

Some expected the demand crash to have a lasting impact on the industry, but it’s safe to say that 2021 has proved otherwise.

Oil Resurfaces as Energy Crisis Deepens

The world is facing a shortage of energy, and peak winter is yet to hit most parts of the globe.

Pandemic-induced supply restraints from producers, in addition to rising energy demand from recovering economies, have sent nations scrambling for petroleum products. Consequently, oil prices are resurfacing to pre-pandemic levels.

As of today, prices of WTI crude futures are at their highest levels in the last five years at over $80 per barrel. Furthermore, U.S. natural gas prices hit a 7-year high of $6.5 per million British thermal units (BTU) earlier this month. Elsewhere, European benchmark natural gas futures have surged 1,300% since May 2020.

Of course, the largest oil and gas companies are riding this wave of resurgence. Using data from CompaniesMarketCap.com, the above infographic ranks the top 20 oil and gas companies by market cap as of October 7, 2021.

Big Oil: The Largest Oil and Gas Companies by Market Cap

Given that we often see their logos at gas stations, the largest oil and gas companies are generally quite well-known. Here’s how they stack up by market cap:

RankCompanyMarket Cap* (US$, billions)Country
1Saudi Aramco$1,979Saudi Arabia 🇸🇦
2ExxonMobil$257.30U.S. 🇺🇸
3Chevron$205.29U.S. 🇺🇸
4Shell$175.28Netherlands 🇳🇱
5PetroChina$162.55China 🇨🇳
6TotalEnergies$130.56France 🇫🇷
7Gazprom$121.77Russia 🇷🇺
8ConocoPhillips$95.93U.S. 🇺🇸
9BP$93.97U.K. 🇬🇧
10Rosneft$84.07Russia 🇷🇺
11Equinor$83.60Norway 🇳🇴
12Enbridge$82.82Canada 🇨🇦
13Sinopec$80.48China 🇨🇳
14Novatek$79.18Russia 🇷🇺
15Duke Energy$78.08U.S. 🇺🇸
16Petrobras$69.91Brazil 🇧🇷
17Southern Company$66.64U.S. 🇺🇸
18Lukoil$64.70Russia 🇷🇺
19CNOOC$52.04China 🇨🇳
20Enterprise Products$50.37U.S. 🇺🇸

*As of October 7, 2021.

Saudi Aramco is one of the five companies in the trillion-dollar club as the world’s third-largest company by market cap. Its market cap is nearly equivalent to the combined valuation of the other 19 companies on the list. But what makes this figure even more astounding is the fact that the company went public less than two years ago in December 2019.

However, the oil giant’s valuation doesn’t come out of the blue. Aramco was the world’s most profitable company in 2019, raking in $88 billion in net income. Apple took this title in 2020, but high oil prices could propel Aramco back to the top in 2021.

Although Standard Oil was split up a century ago, its legacy lives on today in the form of Big Oil. ExxonMobil and Chevron—the second and third-largest companies on the list—are direct descendants of Standard Oil. Furthermore, Shell and BP both acquired assets from Standard Oil’s original portfolio on the road to becoming global oil giants.

The geographical distribution of the largest oil and gas companies shows how global the industry is. The top 20 oil and gas companies come from 10 different countries. The U.S. hosts six of them, while four are headquartered in Russia. The other 10 are located in one of China, Brazil, Saudi Arabia, or Europe.

Big Oil, Bigger Emissions

Due to the nature of fossil fuels, the biggest oil and gas companies are also among the biggest greenhouse gas (GHG) emitters.

In fact, Saudi Aramco is the world’s largest corporate GHG emitter and accounts for over 4% of the entire world’s emissions since 1965. Chevron, Gazprom, ExxonMobil, BP, and several other oil giants join Aramco on the list of top 20 GHG emitters between 1965 and 2017.

Shifting towards a low-carbon future will undoubtedly require the world to rely less on fossil fuels. But completely shunning the oil and gas industry isn’t possible at the moment, as shown by the global energy crisis.

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Energy

The World’s Biggest Nuclear Energy Producers

China has grown its nuclear capacity over the last decade, now ranking second on the list of top nuclear energy producers.

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A cropped chart breaking down the biggest nuclear energy producers, by country, in 2022.

The World’s Biggest Nuclear Energy Producers

This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.

Scientists in South Korea recently broke a record in a nuclear fusion experiment. For 48 seconds, they sustained a temperature seven times that of the sun’s core.

But generating commercially viable energy from nuclear fusion still remains more science fiction than reality. Meanwhile, its more reliable sibling, nuclear fission, has been powering our world for many decades.

In this graphic, we visualized the top producers of nuclear energy by their share of the global total, measured in terawatt hours (TWh). Data for this was sourced from the Nuclear Energy Institute, last updated in August 2022.

 

 

Which Country Generates the Most Nuclear Energy?

Nuclear energy production in the U.S. is more than twice the amount produced by China (ranked second) and France (ranked third) put together. In total, the U.S. accounts for nearly 30% of global nuclear energy output.

However, nuclear power only accounts for one-fifth of America’s electricity supply. This is in contrast to France, which generates 60% of its electricity from nuclear plants.

RankCountryNuclear Energy
Produced (TWh)
% of Total
1🇺🇸 U.S.77229%
2🇨🇳 China38314%
3🇫🇷 France36314%
4🇷🇺 Russia2088%
5🇰🇷 South Korea1506%
6🇨🇦 Canada873%
7🇺🇦 Ukraine813%
8🇩🇪 Germany652%
9🇯🇵 Japan612%
10🇪🇸 Spain542%
11🇸🇪 Sweden512%
12🇧🇪 Belgium482%
13🇬🇧 UK422%
14🇮🇳 India402%
15🇨🇿 Czech Republic291%
N/A🌐 Other2198%
N/A🌍 Total2,653100%

Another highlight is how China has rapidly grown its nuclear energy capabilities in the last decade. Between 2016 and 2021, for example, it increased its share of global nuclear energy output from less than 10% to more than 14%, overtaking France for second place.

On the opposite end, the UK’s share has slipped to 2% over the same time period.

Meanwhile, Ukraine has heavily relied on nuclear energy to power its grid. In March 2022, it lost access to its key Zaporizhzhia Nuclear Power Station after Russian forces wrested control of the facility. With six 1,000 MW reactors, the plant is one of the largest in Europe. It is currently not producing any power, and has been the site of recent drone attacks.

 

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