Peter MokoenaOil isn’t just a commodity—it’s the lifeblood of modern civilization. Behind every barrel are corporations that explore, extract, refine, and distribute energy across continents. In This list, we highlight the industry’s most powerful players, ranked by market capitalization, revenue, and global impact.
Whether they’re drilling in the deserts of Saudi Arabia or refining in the heart of Texas, these companies shape the future of energy and the fate of nations. Let’s meet the titans that keep the world running.
Top 50 Oil Companies In The World
1. Saudi Aramco
Saudi Aramco is the world’s largest oil company by market value and production. Based in Dhahran, it controls vast reserves and operates the Ghawar Field—the largest conventional oil field globally. Aramco’s influence extends beyond energy, shaping global oil prices and geopolitical dynamics. With cutting-edge technology and massive infrastructure, it’s a cornerstone of Saudi Arabia’s Vision 2030. Aramco also invests in refining, petrochemicals, and renewables, positioning itself as a future-forward energy powerhouse.
2. ExxonMobil
ExxonMobil, headquartered in Texas, is a global supermajor with operations in over 70 countries. It’s known for its integrated model—spanning exploration, production, refining, and chemicals. ExxonMobil has deep expertise in offshore drilling and shale development, particularly in the Permian Basin. The company is also investing in carbon capture and low-emission technologies. With a legacy dating back to Standard Oil, ExxonMobil remains a dominant force in shaping energy markets and advancing technological innovation.
3. Chevron
Chevron is a leading U.S. oil company with a strong global footprint in upstream and downstream operations. It’s a pioneer in deepwater exploration and shale production, especially in the Gulf of Mexico and Permian Basin. Chevron’s integrated model includes refining, marketing, and petrochemicals. The company is also investing heavily in renewable energy, hydrogen, and carbon capture. Known for its disciplined capital strategy and innovation, Chevron continues to be a resilient and adaptive energy leader.
4. Shell plc
Shell, headquartered in London, is one of the world’s most recognizable energy brands. It operates across the full oil and gas value chain and is a major player in liquefied natural gas (LNG). Shell is also leading the charge in renewable energy, electric vehicle infrastructure, and sustainable fuels. With operations in over 70 countries, Shell blends legacy with innovation, aiming to become a net-zero emissions energy business by 2050. Its iconic logo is synonymous with global energy.
5. PetroChina
PetroChina is China’s largest oil and gas producer and a subsidiary of the state-owned CNPC. It plays a critical role in meeting China’s energy demands through vast upstream and downstream operations. PetroChina is involved in exploration, refining, pipeline transport, and retail. The company is expanding its international footprint, particularly in Central Asia and Africa. It also invests in clean energy and carbon reduction technologies, aligning with China’s long-term sustainability goals while maintaining its dominance in Asia.
6. TotalEnergies
TotalEnergies, based in France, is a diversified energy company with operations in over 130 countries. It’s active in oil, natural gas, solar, wind, and hydrogen. TotalEnergies is transforming into a broad energy provider, aiming for net-zero emissions by 2050. The company is known for its innovation in offshore drilling and LNG, as well as its commitment to sustainability. With a strong European presence and growing global reach, TotalEnergies is redefining what it means to be an oil major.
7. BP (British Petroleum)
BP is a historic British oil company with a global presence in exploration, refining, and trading. It’s known for its bold pivot toward renewable energy and sustainability, aiming to become a net-zero company by 2050. BP operates in over 70 countries and is a major player in offshore drilling, LNG, and biofuels. The company’s strategy includes investing in electric vehicle infrastructure and green hydrogen. Despite past controversies, BP remains a key innovator in the energy transition.
8. CNOOC
China National Offshore Oil Corporation (CNOOC) is China’s largest offshore oil and gas producer. Specializing in deepwater exploration, CNOOC operates in the South China Sea and international waters. It’s known for its technical expertise and strategic partnerships with global energy firms. CNOOC is expanding its LNG portfolio and investing in clean energy technologies. As a state-owned enterprise, it plays a vital role in China’s energy security and offshore development strategy, with growing influence across Asia and Africa.
9. Rosneft
Rosneft is Russia’s largest oil company and a key player in global energy markets. Headquartered in Moscow, it controls vast reserves in Siberia and the Arctic. Rosneft is involved in exploration, refining, and petrochemicals, with strategic partnerships in Asia and the Middle East. The company is central to Russia’s economic and geopolitical strategy. Despite sanctions and market volatility, Rosneft continues to expand its global footprint and invest in advanced technologies for oil production and processing.
10. Equinor
Equinor, formerly Statoil, is Norway’s state-owned energy company with a strong focus on sustainability. It’s a leader in offshore oil and gas production, especially in the North Sea. Equinor is also investing heavily in wind power, carbon capture, and hydrogen. The company aims to become a net-zero energy provider by 2050. Known for its transparency and innovation, Equinor blends traditional oil expertise with a bold vision for the future, making it a standout in the energy transition.
11. Petrobras
Petrobras is Brazil’s state-controlled oil giant and a leader in deepwater exploration. It operates massive offshore fields like the pre-salt basin, which revolutionized global oil recovery. With integrated operations in refining, distribution, and biofuels, Petrobras plays a central role in Latin America’s energy sector. The company is also investing in decarbonization and renewable energy. Despite past controversies, Petrobras remains a symbol of Brazilian industrial strength and a key player in global offshore innovation.
12. Lukoil
Lukoil is Russia’s largest privately owned oil company, with operations spanning exploration, refining, and petrochemicals. It holds significant reserves in Western Siberia and the Caspian region. Lukoil has expanded internationally, with assets in Europe, the Middle East, and Africa. The company is known for its technical expertise and efficient production. Despite geopolitical challenges, Lukoil continues to be a major force in Eurasian energy markets, balancing traditional oil operations with emerging sustainability initiatives.
13. Eni
Eni is Italy’s flagship energy company with a strong presence in Europe, Africa, and the Middle East. It’s known for its innovation in offshore drilling and natural gas development. Eni is transitioning toward renewables, investing in solar, wind, and biofuels. The company also leads in carbon capture and hydrogen research. With a legacy of exploration and diplomacy, Eni blends engineering excellence with environmental responsibility, positioning itself as a forward-thinking energy provider in a changing world.
14. ConocoPhillips
ConocoPhillips is one of the largest independent exploration and production companies in the U.S. It focuses on upstream assets, particularly in the Permian Basin, Alaska, and Canada. Known for its disciplined capital strategy and operational efficiency, ConocoPhillips delivers strong returns while investing in low-carbon technologies. The company is expanding its LNG portfolio and exploring carbon capture solutions. With a streamlined model and global reach, ConocoPhillips remains a resilient and agile player in the oil sector.
15. Sinopec
Sinopec, officially China Petroleum & Chemical Corporation, is one of the world’s largest refiners and petrochemical producers. It operates across the full energy value chain, with a focus on downstream activities. Sinopec is a key player in China’s energy infrastructure, with vast pipeline networks and retail outlets. The company is also investing in hydrogen, solar, and carbon-neutral fuels. As a state-owned enterprise, Sinopec drives China’s energy modernization while balancing industrial growth with environmental goals.
16. ONGC
Oil and Natural Gas Corporation (ONGC) is India’s national oil explorer and a cornerstone of the country’s energy security. It operates across onshore and offshore fields, including the Mumbai High and Krishna-Godavari Basin. ONGC is expanding into petrochemicals and renewables, aligning with India’s sustainability goals. The company also plays a strategic role in regional diplomacy through energy partnerships. With deep technical expertise and national importance, ONGC remains a vital force in South Asia’s energy landscape.
17. Canadian Natural Resources
Canadian Natural Resources Limited (CNRL) is one of Canada’s largest oil and gas producers, specializing in oil sands, heavy crude, and natural gas. It operates across Alberta, British Columbia, and offshore fields. CNRL is known for its cost-effective production and environmental stewardship, including carbon capture and reclamation projects. The company is expanding its portfolio to include renewables and low-emission technologies. As a leader in Canada’s energy sector, CNRL balances resource development with sustainability.
18. Occidental Petroleum
Occidental Petroleum, or Oxy, is a U.S.-based oil and gas company with strong assets in the Permian Basin. It’s also a global leader in carbon capture and enhanced oil recovery. Oxy acquired Anadarko Petroleum to expand its footprint in shale and offshore exploration. The company is investing in direct air capture and low-carbon technologies, aiming to become a climate-positive producer. With a bold strategy and innovative mindset, Occidental is redefining its role in the energy transition.
19. Imperial Oil
Imperial Oil, majority-owned by ExxonMobil, is a leading Canadian energy company with operations in oil sands, refining, and retail. It’s known for its technical excellence and long-standing presence in Alberta’s resource-rich regions. Imperial operates the Kearl and Cold Lake projects and owns a network of Esso-branded stations. The company is investing in emissions reduction and clean technologies. With deep industry roots and a commitment to innovation, Imperial Oil remains a pillar of Canada’s energy infrastructure.
20. Marathon Petroleum
Marathon Petroleum is the largest refiner in the United States, with a vast network of refineries, pipelines, and retail outlets. It operates the Speedway brand and supplies fuel across North America. Marathon focuses on refining, logistics, and marketing, with growing investments in renewable diesel and carbon reduction. The company’s scale and efficiency make it a dominant force in downstream operations. As fuel demand evolves, Marathon is adapting its strategy to meet sustainability and consumer needs.
21. Phillips 66
Phillips 66 is a leading U.S. energy company focused on refining, midstream logistics, and chemicals. It operates one of the largest refining systems in the country and owns stakes in pipeline networks and petrochemical ventures. The company is investing in renewable fuels and carbon reduction technologies. With a strong retail presence and diversified operations, Phillips 66 plays a key role in North American energy infrastructure, balancing traditional oil assets with a growing commitment to sustainability.
22. Valero Energy
Valero Energy is the largest independent refiner in North America, with a network of refineries, ethanol plants, and retail outlets. Headquartered in Texas, Valero specializes in producing gasoline, diesel, and jet fuel. It’s also a major player in renewable diesel and ethanol, positioning itself as a cleaner fuel provider. The company’s logistics arm ensures efficient distribution across the U.S., Canada, and the UK. Valero’s focus on operational excellence and low-carbon fuels makes it a standout in downstream energy.
23. Hess Corporation
Hess Corporation is a U.S.-based oil and gas company with a strong focus on exploration and production. It operates in key regions like the Gulf of Mexico, Guyana, and North Dakota’s Bakken shale. Hess is known for its disciplined capital strategy and high-margin assets. The company is also investing in emissions reduction and sustainable development. With a lean structure and global reach, Hess continues to deliver value through strategic partnerships and innovative exploration techniques.
24. Cheniere Energy
Cheniere Energy is the largest exporter of liquefied natural gas (LNG) in the United States. It operates major LNG terminals in Louisiana and Texas, supplying energy to global markets. Cheniere plays a critical role in the shift toward cleaner fuels, offering natural gas as a bridge to renewables. The company’s long-term contracts and infrastructure investments ensure stable revenue and growth. As demand for LNG rises, Cheniere is expanding its capacity and reinforcing its leadership in global energy exports.
25. Woodside Energy
Woodside Energy is Australia’s largest independent oil and gas company, with a strong focus on LNG and offshore production. It operates major projects like Pluto and North West Shelf, supplying energy across Asia-Pacific. Woodside is investing in hydrogen, carbon capture, and renewables to support its transition strategy. The company’s technical expertise and strategic partnerships make it a key player in the region. With a bold vision for sustainable growth, Woodside is shaping Australia’s energy future.
26. PTT
PTT is Thailand’s national oil and gas company, with integrated operations in exploration, refining, petrochemicals, and retail. It plays a central role in Southeast Asia’s energy landscape, supplying fuel and chemicals across the region. PTT is expanding into renewables, electric mobility, and carbon reduction technologies. The company’s commitment to innovation and sustainability aligns with Thailand’s energy transition goals. As a regional powerhouse, PTT balances economic development with environmental responsibility, driving progress across multiple energy sectors.
27. Baker Hughes
Baker Hughes is a global oilfield services company that provides technology and solutions for drilling, production, and emissions management. Headquartered in Houston, it operates in over 120 countries. Baker Hughes is a leader in digital oilfield innovation, offering AI-driven analytics and carbon capture systems. The company is transitioning toward cleaner energy services, including geothermal and hydrogen. With a focus on efficiency and sustainability, Baker Hughes supports the oil industry’s evolution while driving technological advancement.
28. SLB (Schlumberger)
SLB, formerly Schlumberger, is the world’s largest oilfield services company, offering drilling, reservoir management, and digital solutions. It operates in more than 120 countries and is known for its cutting-edge technology and global reach. SLB is investing in low-carbon energy, including geothermal, hydrogen, and carbon capture. The company’s transformation reflects a broader industry shift toward sustainability. With deep expertise and a bold innovation strategy, SLB remains a cornerstone of global energy development.
29. Gazprom Neft
Gazprom Neft is the oil-producing arm of Russia’s state-owned Gazprom. It operates upstream and downstream assets across Russia and Eastern Europe. The company is known for its advanced Arctic exploration and refining capabilities. Gazprom Neft is investing in digital technologies and emissions reduction, aligning with Russia’s energy modernization goals. Despite geopolitical challenges, it remains a major force in Eurasian oil markets, contributing to national energy security and global supply chains.
30. Targa Resources
Targa Resources is a U.S. midstream company specializing in natural gas and NGL transportation, processing, and storage. It operates extensive infrastructure across the Permian Basin and Gulf Coast. Targa plays a key role in connecting producers with markets, ensuring efficient energy flow. The company is expanding its footprint and investing in emissions reduction technologies. With a focus on logistics and scalability, Targa Resources supports the backbone of America’s energy supply chain.
31. Kinder Morgan
Kinder Morgan is one of North America’s largest energy infrastructure companies, specializing in pipeline transport of natural gas, crude oil, and refined products. It operates over 80,000 miles of pipelines and 140 terminals. The company plays a vital role in connecting producers with markets across the U.S., Mexico, and Canada. Kinder Morgan is investing in carbon capture and renewable natural gas, positioning itself as a key player in the low-carbon transition while maintaining its logistical dominance.
32. Energy Transfer
Energy Transfer is a major U.S. midstream company with operations in natural gas, crude oil, and NGL transportation. It owns and operates pipelines, storage facilities, and terminals across key energy corridors. The company’s assets span the Permian Basin, Gulf Coast, and Midwest. Energy Transfer is known for its scale, efficiency, and strategic acquisitions. It’s expanding into renewable fuels and carbon management, reinforcing its role as a critical connector in the evolving energy supply chain.
33. TC Energy
TC Energy, formerly TransCanada, is a Canadian energy company focused on natural gas and oil pipelines, power generation, and storage. It operates the Keystone Pipeline System and has a strong presence in North America. TC Energy is investing in renewable energy and hydrogen infrastructure, aligning with Canada’s climate goals. The company’s reliability and engineering expertise make it a cornerstone of continental energy logistics, balancing traditional pipeline operations with forward-looking sustainability initiatives.
34. Sempra Energy
Sempra Energy is a U.S. energy infrastructure company with a focus on natural gas, electricity, and LNG exports. It operates utilities in California and Texas and owns stakes in major LNG terminals like Cameron LNG. Sempra is expanding its footprint in Mexico and investing in clean energy technologies. The company’s strategy emphasizes grid modernization, decarbonization, and international growth. With a blend of utility stability and global ambition, Sempra is shaping the future of energy delivery.
35. MPLX LP
MPLX is a master limited partnership formed by Marathon Petroleum to own and operate midstream assets. It specializes in crude oil and natural gas logistics, including pipelines, terminals, and storage. MPLX supports Marathon’s refining operations and third-party customers across the U.S. The company is expanding its infrastructure and exploring low-carbon solutions. With a focus on efficiency and scalability, MPLX plays a vital role in the movement of energy across North America’s industrial heartland.
36. EOG Resources
EOG Resources is a leading U.S. independent oil and gas producer, known for its innovation in shale development. It operates in the Permian Basin, Eagle Ford, and other prolific regions. EOG emphasizes low-cost production, data-driven drilling, and environmental stewardship. The company is investing in carbon capture and water recycling technologies. With a reputation for operational excellence and strategic discipline, EOG continues to deliver strong returns while adapting to the demands of a lower-carbon future.
37. Chandra Asri Petrochemical
Chandra Asri is Indonesia’s largest integrated petrochemical company, producing ethylene, polyethylene, and other key materials. It plays a central role in Southeast Asia’s industrial supply chain. The company is expanding its refining and chemical capacity to meet growing regional demand. Chandra Asri is also investing in circular economy initiatives and sustainable production. As Indonesia’s energy and manufacturing sectors evolve, Chandra Asri remains a vital link between raw materials and consumer goods.
38. Suncor Energy
Suncor Energy is a Canadian integrated energy company specializing in oil sands production, refining, and retail. It operates major assets in Alberta and owns Petro-Canada, a nationwide fuel brand. Suncor is investing in renewable fuels, carbon capture, and clean energy partnerships. The company emphasizes operational safety, environmental responsibility, and Indigenous collaboration. With a strong domestic presence and global reach, Suncor balances resource development with sustainability, making it a leader in Canada’s energy transition.
39. Novatek
Novatek is Russia’s largest independent natural gas producer, with a strong focus on LNG development. It operates the Yamal LNG project and is expanding Arctic energy infrastructure. Novatek is known for its innovation in cold-climate engineering and strategic partnerships with global firms. The company is investing in low-carbon technologies and hydrogen production. As global demand for LNG rises, Novatek is positioning itself as a key supplier, blending Russian resource strength with international ambition.
40. Oneok
Oneok is a U.S. midstream company specializing in natural gas liquids (NGL) gathering, processing, and transportation. It operates extensive infrastructure across the Midcontinent and Permian Basin. Oneok plays a critical role in connecting producers with petrochemical and fuel markets. The company is investing in emissions reduction and system optimization. With a focus on reliability and scalability, Oneok supports the backbone of America’s energy logistics while adapting to environmental and regulatory shifts.
41. Baker Hughes
Baker Hughes is a global energy technology company that provides services and equipment for oil, gas, and low-carbon energy. It operates in over 120 countries, offering solutions in drilling, production, and emissions management. Baker Hughes is a leader in carbon capture, geothermal, and hydrogen technologies. The company’s digital platforms and AI-driven tools enhance efficiency across the energy value chain. With a bold pivot toward sustainability, Baker Hughes is helping reshape the future of energy services.
42. Gazprom
Gazprom is Russia’s state-owned energy giant and the world’s largest producer of natural gas. It controls vast reserves across Siberia and operates extensive pipeline networks into Europe and Asia. Gazprom is also active in oil production, power generation, and petrochemicals. The company plays a strategic role in global energy geopolitics. Despite sanctions and market shifts, Gazprom remains a dominant force in Eurasian energy, leveraging its infrastructure and reserves to influence global supply and pricing.
43. Diamondback Energy
Diamondback Energy is a U.S. independent oil and gas company focused on the Permian Basin. It specializes in horizontal drilling and shale production, delivering high-margin barrels with low operating costs. Diamondback emphasizes capital discipline and environmental stewardship, including flaring reduction and water recycling. The company’s lean structure and strategic acquisitions have fueled rapid growth. As a pure-play shale operator, Diamondback is a standout in the unconventional oil space, driving innovation and efficiency in tight formations.
44. Targa Resources
Targa Resources is a leading midstream company in the U.S., specializing in natural gas liquids (NGL) gathering, processing, and transportation. It operates key infrastructure in the Permian Basin and Gulf Coast, connecting producers to petrochemical and export markets. Targa is expanding its footprint and investing in emissions reduction technologies. The company’s agility and scale make it a vital link in the energy supply chain, supporting both traditional hydrocarbons and the transition to cleaner fuels.
45. ONGC (Oil and Natural Gas Corporation)
ONGC is India’s largest oil and gas exploration company, responsible for over 70% of the country’s crude production. It operates across onshore and offshore fields, including the prolific Mumbai High. ONGC is expanding into petrochemicals, renewables, and international ventures. The company plays a strategic role in India’s energy security and economic development. With deep technical expertise and national importance, ONGC continues to drive innovation and sustainability in South Asia’s energy landscape.
46. Woodside Energy
Woodside Energy is Australia’s leading oil and gas company, with a strong focus on LNG and offshore production. It operates major projects like Pluto and Scarborough, supplying energy across Asia-Pacific. Woodside is investing in hydrogen, carbon capture, and renewables to support its transition strategy. The company’s technical excellence and strategic partnerships make it a key player in the region. With a bold vision for sustainable growth, Woodside is shaping Australia’s energy future.
47. PG&E (Pacific Gas and Electric)
PG&E is a California-based utility company that provides electricity and natural gas to millions of customers. While not a traditional oil producer, PG&E plays a key role in energy distribution and infrastructure. The company is investing in grid modernization, wildfire prevention, and clean energy integration. PG&E’s challenges have spurred innovation in safety and sustainability. As a utility navigating complex energy transitions, PG&E remains central to California’s push toward a resilient and low-carbon future.
48. EQT Corporation
EQT is the largest natural gas producer in the United States, with operations concentrated in the Appalachian Basin. It focuses on responsible production, emissions reduction, and digital optimization. EQT is a vocal advocate for natural gas as a bridge fuel in the energy transition. The company is investing in carbon offsets and methane monitoring technologies. With a commitment to transparency and innovation, EQT is redefining what it means to be a modern gas producer.
49. Hess Midstream
Hess Midstream is a U.S. energy infrastructure company that supports Hess Corporation’s upstream operations. It owns and operates pipelines, gas processing plants, and storage facilities in the Bakken region. The company ensures efficient transport and handling of hydrocarbons, enabling reliable production and delivery. Hess Midstream is expanding its third-party services and investing in emissions reduction. As a focused midstream operator, it plays a critical role in North American energy logistics and sustainability.
50. ADNOC Gas
ADNOC Gas is a subsidiary of the Abu Dhabi National Oil Company, specializing in natural gas processing and distribution. It plays a key role in the UAE’s energy strategy, supplying domestic and international markets. ADNOC Gas operates advanced infrastructure and is expanding its LNG capabilities. The company is investing in decarbonization and hydrogen development. As part of the UAE’s push toward energy diversification, ADNOC Gas blends traditional strength with future-focused innovation.
Closing
From the deserts of the Middle East to the shale fields of North America, these 50 oil companies represent the backbone of global energy. They fuel economies, shape geopolitics, and drive innovation across continents. As the world transitions toward cleaner, more sustainable energy, these giants are evolving—investing in renewables, carbon capture, and digital technologies. Their legacy is built on power and progress, but their future will be defined by adaptability and vision. The energy story continues—and these are the authors of its next chapter.