In this update to our 2016 rankings, the top two slots in the list still belong to the Russian giants, Exxon is still third, and PetroChina held onto fourth place – but Shell and BP flipped positions, changing the makeup of the world’s five largest oil companies

With 2017 in the books, it is a good time to see where the chips fell for the world’s largest public oil and gas companies.

During a year of recovery for the highly capital-intensive exploration and production industry, 2017 saw a slow but steady increase of oil prices – back to levels that allow companies to once again make money. $60 oil is a great number for the shale industry, but it is still a long way from triple digit oil that was driving the industry five years ago.

Here are the world’s 28 largest publicly traded producing oil and gas companies as of early 2018.

The companies and rankings originally took form in Forbes’ latest Global 2000 list. And like our previous story by the same title, compiled and written in early 2016, we kept the focus on companies with significant E&P operations.

In other words, Forbes uses the “oil and gas operations” category within its Global 2000 largest companies (market cap) as a larger, more inclusive multi-industry category. Oil & Gas 360® seeks a list of companies who are strongly dependent on exploration and production. So we intentionally left off companies whose revenues come largely from power generation, midstream oil and gas transportation, refining or petrochemical operations or marketing of refined products.  When we refer to a company as an oil company, it means the company spends significant time, effort and resources finding and producing oil and gas – its principal line of its business.

Quick facts

  • USA is home to 25% of the largest public oil companies, 18% of the group’s total production and 32% of the group’s total enterprise value
  • Russia is home to 14% of the largest companies, 31% of production and 10 % of enterprise value
  • China is home to 11% of the largest companies, 11% of production and 15% of enterprise value
  • Canada is home to 11% of the largest companies, 4% of production and 5% of enterprise value
  • Other countries around the world make up the remaining 39% of the largest oil and gas companies, 36% of production and 38% of enterprise value

Methodology

The data used to compile this year’s largest public oil and gas company list was sourced from the Bloomberg Terminal, Q4/2017 year-end company reports, EnerCom Analytics, oil company presentations and Forbes’ ranking data.

(Note: MMBOEPD = million barrels of oil equivalent per day; EV = enterprise value)

Companies are ranked in descending order by daily oil equivalent production:

  1. Gazprom (ticker: GAZP, com) – Russia – 8.16 MMBOEPD – EV $94.5 billion
  2. Rosneft (ticker: ROSN, com) – Russia – 5.7 MMBOEPD – EV $123.3 billion
  3. ExxonMobil (ticker: XOM, com) – USA – 4 MMBOPD – EV $400.5 billion
  4. PetroChina (ticker: PTR, com) – China – 3.9 MMBOEPD – EV $285.9 billion
  5. Royal Dutch Shell (ticker: RDS.A, com) – Netherlands – 3.6 MMBOEPD – EV $348.6 billion
  6. BP (ticker: BP, com) – United Kingdom – 3.6 MMBOEPD – EV $179.3 billion
  7. Petrobras (ticker: PBR, com) – Brazil – 2.75 MMBOEPD – EV $151.9 billion
  8. Chevron (ticker: CVX, com) – USA – 2.73 MMBOPD – EV $273.6 billion
  9. Total (ticker: TOT, com) – France – 2.56 MMBOEPD – EV $158.6 billion
  10. Lukoil (ticker: LKOH, com) – Russia – 2.26 MMBOEPD – EV $43.6 billion
  11. Statoil (ticker: STO, com) – Norway – 2.13 MMBOEPD – EV $ 82.6 billion
  12. Eni (ticker: E, com) – Italy – 1.9 MMBOEPD – EV $73.7 billion
  13. Novatek (ticker: NVTK, com) – Russia – 1.52 MMBOEPD – EV $37.7 billion
  14. CNOOC (ticker: CEO, com) – China – 1.31 MMBOEPD – EV $55.3 billion
  15. ConocoPhillips (ticker: COP, com) – USA – 1.26 MMBOEPD – EV $76.3 billion
  16. China Petroleum & Chemical Corporation [Sinopec] (ticker: SNP, com) – China – 1.23 MMBOEPD – EV $126.9 billion
  17. Oil & Natural Gas Corp. (ticker: ONGC, com) – India – 1.21 MMBOEPD – EV $43.4 billion
  18. Canadian Natural Resources (ticker: CNQ, com) – Canada – 947 MBOEPD – EV $61.7 billion
  19. Suncor Energy (ticker: SU, com) – Canada – 736 MBOEPD – EV $70.8 billion
  20. Repsol (ticker: REP, com) – Spain – 716 MBOEPD – EV $38.9 billion
  21. Ecopetrol (ticker: EC, com) – Colombia – 715 MBOEPD – EV $42.9 billion
  22. EOG Resources (ticker: EOG, com) – USA – 662 MBOEPD – EV $67.9 billion
  23. Anadarko Petroleum (ticker: APC, com) – USA – 637 MBOEPD – EV $42.7 billion
  24. Occidental Petroleum (ticker: OXY, com) – USA – 621 MBOEPD – EV $64.5 billion
  25. Devon Energy (ticker: DVN, com) – USA – 548 MBOEPD – EV $34.3 billion
  26. OMV (ticker: OMV, com) – Austria – 377 MBOEPD – EV $29.5 billion
  27. Husky Energy (ticker: HSE, com) – Canada – 320 MBOEPD – EV $17.3 billion
  28. Woodside Petroleum (ticker: WPL, com) – Australia – 233 MBOEPD – EV $27.4 billion

Detailed graphs

NOTE: The data presented in the graphs below references most recently reported average daily production and other statistics generated by the companies ranked in the accompanying story. Data by country is a reference to the companies’ headquarters locations. Clicking on the image will open it in a new tab/window, showing the full resolution.

2018: The World’s Largest Public Oil & Gas Companies

2018: The World’s Largest Public Oil & Gas Companies

2018: The World’s Largest Public Oil & Gas Companies

2018: The World’s Largest Public Oil & Gas Companies

2018: The World’s Largest Public Oil & Gas Companies

2018: The World’s Largest Public Oil & Gas Companies

Sources: Bloomberg Terminal, EnerCom Analytics and company presentations


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