Oil and gas is the most dominant sector in the world, not just on the basis of revenues and profits but also in terms of influence. Let us look at the list of the world’s biggest oil and gas companies based on revenue and a few of their current open positions.
1. Saudi Aramco
Officially the Saudi Arabian Oil Company, popularly referred as Aramco (formerly Arabian-American Oil Company), is a Saudi Arabian national petroleum and natural gas company headquartered in Dhahran. It is regarded as the largest company in the world by revenue.
Bloomberg News claims it to be the most profitable company in the world. It has second-largest crude oil reserves and second largest daily oil production.
Location: Saudi Arabia
Location: Saudi Arabia
2. China Petrochemical Corporation,
China Petrochemical Corporation or the Sinopec Group is the world's largest oil refining, gas, and petrochemical conglomerate.
Headquartered in Beijing, its business segments include oil and gas exploration and production, chemical marketing, petroleum engineering, petrochemical refining and refined products marketing, engineering and construction, as well as international trade.
The rise in crude oil prices and the boost in sales volume of natural gas has led to the surge in revenue for the company in the recent times. The company credits its petrochemical refining and distribution segment for over half its revenue contribution.
A US-based international oil and gas company, ExxonMobil markets oil and gas products within six continents. The company was formed by the merger of Exxon (formerly the Standard Oil Company of New Jersey) and Mobil (formerly the Standard Oil Company of New York).
It acquired the InterOil Corporation and a 25% stake in the Area 4 block in Mozambique in 2017.
Exxon reported that its upstream and downstream activities are the prime drivers of the revenue.
4. Royal Dutch Shell Plc
Royal Dutch Shell is headquartered in the Netherlands and is incorporated in the United Kingdom. The company operates in more than 70 countries worldwide and produced more than 66 million tonnes (Mt) of LNG year ago.
It focuses on the exploration, development, production, refining, and marketing of oil and natural gas, as well as related chemicals. Its operations are divided into four business segments: upstream, integrated gas, new energies and downstream.
The downstream business, which includes the supply of fuel and lubricants to various industries, was termed as the biggest contributor to the company's revenue in the recent times.
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5. Kuwait Petroleum Corporation
Kuwait Petroleum Corporation is Kuwait's national oil company, which is headquartered in Kuwait City.
The business activities of the company are focused on petroleum exploration, production, petrochemicals, refining, marketing, and transportation. It produces 7% of the world's total crude oil.
6. BP Plc
Headquartered in London, UK, BP Plc provides customers with energy products and services related to natural gas, oil, petrochemicals, and power. It has operations in 70 countries and comprises of business segments that include: upstream, downstream, Rosneft and other businesses.
It started 7 major projects in the upstream segment last year.
7. Total SA
Total is a France-based organization that operates in more than 130 countries. The business segment of the company comprises of Exploration & Production, Gas, Renewables & Power, Refining & Petrochemicals, and Marketing & Services. It is the second biggest refining company in Western Europe and has equity stakes in 18 refineries. The company is witnessing an upward swing in its revenue numbers past couple of years.
The PJSC Lukoil Oil Company is a Russian multinational energy corporation based in Moscow. It specializes in extraction, production, transport, and sale of natural gas, petroleum, and petroleum products.
The company name is the combination of the acronym LUK, which is initials of the oil-producing cities of Langepas, Uray, and Kogalym. It is the second largest company in Russia after Gazprom. It is referred to as the largest non-state enterprise in the nation in terms of revenue and is considered as one of the largest global producers of crude oil in the international market.
Eni S.p.A. is an Italian multinational oil and gas company which has its base in Rome. It is regarded as one of the global supermajors. It has operations in 79 countries.
The name "ENI" was initially the acronym of "Ente Nazionale Idrocarburi” which translates into National Hydrocarbons Authority.
10. Valero Energy
Valero Energy Corporation is headquartered in San Antonio, Texas, United States. The company owns and operates 16 refineries throughout the United States, Canada, and the United Kingdom.
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The global oilfield scale inhibitor market was valued at USD 509.4 Million in 2014 and is expected to witness a CAGR of 5.40% between 2015 and 2020. Factors driving the market of oilfield scale inhibitor include increasing demand from the oil and gas industry, wide availability of scale inhibitors, rising demand for biodegradable and environment-compatible scale inhibitors, and so on.
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The oilfield scale inhibitor market is experiencing strong growth and is mainly driven by regions, such as RoW, North America, Asia-Pacific, and Europe. Considerable amount of investments are made by different market players to serve the end-user applications of scale inhibitors. The global market is segmented into major geographic regions, such as North America, Europe, Asia-Pacific, and Rest of the World (RoW). The market has also been segmented on the basis of type. On the basis of type of scale inhibitors, the market is sub-divided into phosphonates, carboxylate/acrylate, sulfonates, and others.
Carboxylate/acrylic are the most common type of oilfield scale inhibitor
Among the various types of scale inhibitors, the carboxylate/acrylate type holds the largest share in the oilfield scale inhibitor market. This large share is attributed to the increasing usage of this type of scale inhibitors compared to the other types. Carboxylate/acrylate meets the legislation requirement, abiding environmental norms due to the absence of phosphorus. Carboxylate/acrylate scale inhibitors are used in artificial cooling water systems, heat exchangers, and boilers.
RoW, which includes the Middle-East, Africa, and South America, is the most dominant region in the global oilfield scale inhibitor market
The RoW oilfield scale inhibitor market accounted for the largest share of the global oilfield scale inhibitor market, in terms of value, in 2014. This dominance is expected to continue till 2020 due to increased oil and gas activities in this region. The Middle-East, Africa, and South America have abundant proven oil and gas reserves, which will enable the rapid growth of the oilfield scale inhibitor market in these regions. Among the regions in RoW, Africa’s oilfield scale inhibitor market has the highest prospect for growth. Africa has a huge amount of proven oil reserves and is one of the leading oil producing region in the World. But political unrest coupled with lack of proper infrastructures may negatively affect oil and gas activities in this region.
Major players in this market are The Dow Chemical Company (U.S.), BASF SE (Germany), AkzoNobel Oilfield (The Netherlands), Kemira OYJ (Finland), Solvay S.A. (Belgium), Halliburton Company (U.S.), Schlumberger Limited (U.S.), Baker Hughes Incorporated (U.S.), Clariant AG (Switzerland), E. I. du Pont de Nemours and Company (U.S.), Evonik Industries AG (Germany), GE Power & Water Process Technologies (U.S.), Ashland Inc. (U.S.), and Innospec Inc. (U.S.).
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Headline crude prices for the week beginning 9 December 2019 – Brent: US$64/b; WTI: US$59/b
Headlines of the week
In the U.S. Energy Information Administration’s (EIA) International Energy Outlook 2019 (IEO2019), India has the fastest-growing rate of energy consumption globally through 2050. By 2050, EIA projects in the IEO2019 Reference case that India will consume more energy than the United States by the mid-2040s, and its consumption will remain second only to China through 2050. EIA explored three alternative outcomes for India’s energy consumption in an Issue in Focus article released today and a corresponding webinar held at 9:00 a.m. Eastern Standard Time.
Long-term energy consumption projections in India are uncertain because of its rapid rate of change magnified by the size of its economy. The Issue in Focus article explores two aspects of uncertainty regarding India’s future energy consumption: economic composition by sector and industrial sector energy intensity. When these assumptions vary, it significantly increases estimates of future energy consumption.
In the IEO2019 Reference case, EIA projects the economy of India to surpass the economies of the European countries that are part of the Organization for Economic Cooperation and Development (OECD) and the United States by the late 2030s to become the second-largest economy in the world, behind only China. In EIA’s analysis, gross domestic product values for countries and regions are expressed in purchasing power parity terms.
The IEO2019 Reference case shows India’s gross domestic product (GDP) growing from $9 trillion in 2018 to $49 trillion in 2050, an average growth rate of more than 5% per year, which is higher than the global average annual growth rate of 3% in the IEO2019 Reference case.
Source: U.S. Energy Information Administration, International Energy Outlook 2019
India’s economic growth will continue to drive India’s growing energy consumption. In the IEO2019 Reference case, India’s total energy consumption increases from 35 quadrillion British thermal units (Btu) in 2018 to 120 quadrillion Btu in 2050, growing from a 6% share of the world total to 13%. However, annually, the level of GDP in India has a lower energy consumption than some other countries and regions.
Source: U.S. Energy Information Administration, International Energy Outlook 2019
In the Issue in Focus, three alternative cases explore different assumptions that affect India’s projected energy consumption:
EIA’s analysis shows that the country's industrial activity has a greater effect on India’s energy consumption than technological improvements. In the IEO2019 Composition and Combination cases, where the assumption is that economic growth is more concentrated in manufacturing, energy use in India grows at a greater rate because those industries have higher energy intensities.
In the IEO2019 Combination case, India’s industrial energy consumption grows to 38 quadrillion Btu more in 2050 than in the Reference case. This difference is equal to a more than 4% increase in 2050 global energy use.