Leading oil companies
The oil and gas industry is one of the largest industries worldwide. This sector is involved in exploration, extraction, refining, transport and marketing of these commodities. Many industries are extremely dependent on oil and gas products, mostly in the form of energy fuels or raw materials for chemical products.
Oil and gas companies are among the world’s largest corporations. ExxonMobil and Royal Dutch Shell are among the world’s largest companies in general, with revenues of 237 and 305 billion U.S. dollars, respectively in 2017.
However, these companies are not the top oil producers based on daily production. The largest oil producers are state-controlled companies like Saudi Aramco from Saudi Arabia, INOC from Iraq, NIOC from Iran, and Rosneft from Russia. Saudi Aramco, for example has a daily crude oil production of more than 12 million barrels per day. To compare, ExxonMobil as the largest private-owned oil company (based on market value) has a daily production of some 2.4 million barrels. Globally, total daily oil production tends towards 92 million barrels.