[Ranking] TOP 25 Oil & Gas Exploration & Production / Energy Companies Q3/2023
Intro
The oil and gas exploration and production industry plays a vital role in the worldwide economy. As the parent industry of Energy, it is responsible for the extraction and production of crude oil and natural gas, which are essential sources of energy for various sectors.
With its profound influence, the oil and gas exploration and production industry has ripple effects across diverse sectors such as transportation, manufacturing, and electricity generation. The availability and affordability of oil and gas directly impact the cost of goods and services, as well as global trade and economic stability.
In terms of economic magnitude, the oil and gas exploration and production industry is immense. It generates billions of dollars in revenue annually and employs millions of people worldwide. Additionally, the industry is projected to grow steadily in the coming years due to increasing energy demand and technological advancements.
Recent trends, breakthroughs, and obstacles are shaping the industry's trajectory. Factors such as the transition towards renewable energy sources, geopolitical tensions, and environmental concerns are influencing the strategies and investments of companies in the sector. Additionally, advancements in drilling techniques and data analytics are revolutionizing exploration and production methods.
The landscape of the oil and gas exploration and production industry is constantly evolving. Changing regulations, market dynamics, and consumer preferences create a dynamic environment for companies operating in this sector. Exploring and understanding the top companies within this industry is essential to grasp the current state and future direction of the energy market.
Ranking
#25 Marathon Oil Corporation
Employees: 2.5K
Revenue: 5.7B$
Website: https://www.marathonoil.com
Description: Marathon Oil Corporation, headquartered in Houston, United States, is a major player in the Oil & Gas Exploration & Production industry. Founded in 1887, the company has a long-standing history in the energy sector. With approximately 2.5 thousand employees, Marathon Oil Corporation operates globally, exploring and producing oil and gas resources. The company's focus lies in efficient and sustainable production, leveraging advanced technologies and expertise. Marathon Oil Corporation's revenue stands at 5.7 billion dollars, reflecting its significant presence and success in the industry. Through its strategic operations and commitment to innovation, Marathon Oil Corporation continues to contribute to the energy sector's growth and development.
#24 Hess Corporation
Employees: 1.4K
Revenue: 6.5B$
Website: https://www.hess.com
Description: Hess Corporation is an Energy company headquartered in New York City, United States. Founded in 1919, the company operates in the Oil & Gas Exploration & Production industry. With approximately 1.4 thousand employees, Hess Corporation is involved in various activities within the industry, including exploration, development, production, and marketing of crude oil, natural gas, and natural gas liquids. The company has a strong presence in North America and operates both onshore and offshore assets. Hess Corporation is committed to responsible environmental practices and sustainable energy development while delivering value to its shareholders.
#23 Pioneer Natural Resources Company
Employees: 3.6K
Revenue: 9.2B$
Website: https://www.pxd.com
Description: Pioneer Natural Resources Company is an oil and gas exploration and production company based in Irving, United States. Founded in 1997, the company has established itself as a leading player in the energy industry. With approximately 3.6 thousand employees, Pioneer Natural Resources focuses on the exploration, development, and production of oil and natural gas reserves. The company operates primarily in North America, with a strong presence in the Permian Basin, Eagle Ford Shale, and West Panhandle fields. Pioneer Natural Resources is committed to sustainable practices and is dedicated to minimizing its environmental impact while maximizing energy production. With a revenue of 9.2 billion dollars, the company continues to drive innovation and growth in the oil and gas exploration and production sector.
#22 Devon Energy Corporation
Employees: 2.1K
Revenue: 10.3B$
Website: https://www.devonenergy.com
Description: Devon Energy Corporation, headquartered in Oklahoma City, United States, is a prominent player in the Oil & Gas Exploration & Production industry. Founded in 1971, the company has established itself as a leading producer of oil and natural gas, with operations primarily focused in North America. With a team of approximately 2.1 thousand employees, Devon Energy Corporation is committed to responsibly developing its diverse portfolio of high-quality assets. The company's revenue of 10.3 billion dollars highlights its strong performance in the industry. Devon Energy Corporation continues to leverage advanced technologies and innovative strategies to maximize value, enhance operational efficiency, and drive sustainable growth in the energy sector.
#21 EOG Resources, Inc.
Employees: 2.7K
Revenue: 17.3B$
Website: https://www.eogresources.com
Description: EOG Resources, Inc. is a leading player in the Oil & Gas Exploration & Production industry. Headquartered in Houston, United States, the company has been operating since 1999. With a workforce of approximately 2.7 thousand employees, EOG Resources is actively involved in exploring and producing oil and gas reserves. The company primarily focuses on the exploration and development of unconventional resources, including shale and tight oil. EOG Resources has a strong presence in North America, with operations in key resource plays such as the Permian Basin, Eagle Ford, Bakken, and Delaware Basin. The company's commitment to innovation and technological advancements has allowed it to successfully extract hydrocarbons from challenging reservoirs, contributing to its impressive revenue of 17.3 billion dollars.
#20 Husky Energy Inc.
Employees: 5K
Revenue: 20B$
Website: https://www.huskyenergy.com
Description: Husky Energy Inc. is a Canadian company headquartered in Calgary, Canada. Founded in 1938, the company operates in the Oil & Gas Exploration & Production industry. With approximately 5,000 employees, Husky Energy focuses on the exploration, production, refining, and marketing of oil and gas products. The company is actively involved in projects across North America, including the development of oil sands in Western Canada and offshore drilling in the Atlantic region. Husky Energy is committed to sustainable practices and invests in renewable energy initiatives. With an annual revenue of 20 billion USD, the company continues to play a significant role in the energy sector.
#19 Occidental Petroleum Corporation
Employees: 11.6K
Revenue: 21.4B$
Website: https://www.oxy.com
Description: Occidental Petroleum Corporation, headquartered in Houston, United States, is a leading player in the Oil & Gas Exploration & Production industry. Founded in 1920, the company boasts a workforce of approximately 11.6 thousand employees. With a revenue of 21.4 billion dollars, Occidental Petroleum engages in the exploration, production, and marketing of oil and gas worldwide. The company operates in numerous regions, including the United States, the Middle East, and Latin America, and is dedicated to efficiently and responsibly developing energy resources to meet global demand. Occidental Petroleum is committed to employing innovative technologies and sustainable practices to enhance its operations and contribute to the energy transition.
#18 Suncor Energy Inc.
Employees: 13K
Revenue: 30B$
Website: https://www.suncor.com
Description: Suncor Energy Inc. is a Canadian oil and gas exploration and production company headquartered in Calgary, Canada. With a history dating back to 1917, Suncor has established itself as a leading player in the energy industry. The company operates in the upstream sector, involved in the exploration, development, and production of oil and gas resources. Suncor's operations span across North America, with a focus on the Athabasca oil sands in Alberta, Canada. The company has a workforce of approximately 13,000 employees and generates annual revenues of around 30 billion dollars. Suncor is committed to sustainable practices and has been actively investing in renewable energy sources, such as wind power and biofuels, to reduce its environmental impact and contribute to a cleaner energy future.
#17 ConocoPhillips
Employees: 10K
Revenue: 30B$
Website: https://www.conocophillips.com
Description: ConocoPhillips is a leading company in the Oil & Gas Exploration & Production industry. Headquartered in Houston, United States, it operates primarily in North America. With a history dating back to 1917, ConocoPhillips has established itself as a key player in the energy sector. The company employs approximately 10,000 individuals, contributing to its success in generating significant revenue of 30 billion dollars. ConocoPhillips focuses on exploring and producing oil and gas resources, utilizing advanced technologies and innovative approaches. Through its operations, ConocoPhillips plays a vital role in meeting global energy demands while maintaining a commitment to sustainability and responsible resource management.
#16 Canadian Natural Resources Limited
Employees: 6.5K
Revenue: 43.7B$
Website: https://www.cnrl.com/
Description: Canadian Natural Resources Limited is a leading company in the Oil & Gas Exploration & Production industry. Headquartered in Calgary, Canada, the company was founded in 1973. With approximately 6,500 employees, Canadian Natural Resources Limited is involved in the exploration, development, production, and marketing of crude oil, natural gas, and natural gas liquids. The company operates a diverse portfolio of assets across North America and has a strong focus on environmentally responsible practices. Canadian Natural Resources Limited is committed to maximizing shareholder value while ensuring sustainable development and minimizing environmental impact. With a revenue of 43.7 billion US dollars, the company continues to play a significant role in the energy sector.
#15 CNOOC Limited
Employees: 15K
Revenue: 45B$
Website: https://www.cnoocltd.com
Description: CNOOC Limited, headquartered in Beijing, China, is a leading company in the Oil & Gas Exploration & Production industry. Founded in 1982, the company operates in various offshore and deepwater areas, focusing on exploration, development, production, and sale of crude oil and natural gas. With approximately 15,000 employees, CNOOC Limited has established a strong presence in the energy sector and has contributed significantly to China's energy production. The company's revenue reached 45 billion dollars, showcasing its financial stability and success in the industry. CNOOC Limited continues to play a vital role in the global energy market, driving innovation and sustainable development in the oil and gas sector.
#14 Repsol S.A.
Employees: 25K
Revenue: 50B$
Website: https://www.repsol.com/
Description: Repsol S.A. is a leading company in the Oil & Gas Exploration & Production industry. Headquartered in Madrid, Spain, Repsol operates primarily in Europe and Latin America. The company was founded in 1987 and currently employs approximately 25,000 people. With a revenue of around 50 billion dollars, Repsol is one of the major players in the energy sector. Repsol focuses on the exploration, production, refining, and distribution of oil and gas, with a commitment to sustainable and responsible practices. They have a strong presence in the upstream and downstream segments of the industry, as well as a growing portfolio of renewable energy projects. Through their innovative technologies and strategic partnerships, Repsol continues to contribute to the development of the global energy market.
#13 Equinor ASA
Employees: 22K
Revenue: 60B$
Website: https://www.equinor.com
Description: Equinor ASA, headquartered in Stavanger, Norway, is a leading oil and gas exploration and production company operating in the energy industry. Founded in 1972, Equinor has established itself as a major player in the global market. With approximately 22,000 employees, Equinor is committed to delivering sustainable energy solutions and reducing carbon emissions. The company focuses on exploration, development, and production of oil and gas resources, both offshore and onshore. Equinor's operations span across several continents, including Europe, North America, Africa, and Asia. With a revenue of 60 billion dollars, Equinor continues to drive innovation and contribute to the energy transition towards a more sustainable future.
#12 Petroleo Brasileiro S.A. - Petrobras
Employees: 52K
Revenue: 71.9B$
Website: https://www.petrobras.com.br/en/
Description: Petroleo Brasileiro S.A. - Petrobras is a major player in the Oil & Gas Exploration & Production industry. Headquartered in Rio de Janeiro, Brazil, Petrobras operates primarily in South America. Founded in 1953, the company has grown to employ approximately 52,000 employees. With an annual revenue of 71.9 billion dollars, Petrobras is a significant contributor to the energy sector. The company engages in various activities including oil and gas exploration, production, refining, and distribution. Petrobras plays a crucial role in Brazil's energy independence and has made significant investments in offshore oil fields. With its strong presence in the industry, Petrobras continues to be a key player in the oil and gas sector in South America.
#11 Eni S.p.A.
Employees: 33K
Revenue: 76B$
Website: https://www.eni.com/
Description: Eni S.p.A. is an Italian multinational oil and gas company headquartered in Rome, Italy. Founded in 1953, Eni is one of the largest integrated energy companies in the world. With operations in more than 70 countries, Eni is primarily engaged in oil and gas exploration, production, refining, and marketing. The company explores and produces hydrocarbons from both conventional and unconventional sources, including offshore and onshore fields. Eni operates in all aspects of the oil and gas value chain, from upstream exploration and production to downstream refining and marketing. With a diverse portfolio of assets and a strong commitment to sustainability, Eni plays a significant role in meeting global energy demand while minimizing its environmental impact.
#10 Marathon Petroleum Corporation
Employees: 60K
Revenue: 100B$
Website: https://www.marathonpetroleum.com
Description: Marathon Petroleum Corporation, headquartered in Findlay, Ohio, is a leading player in the Oil & Gas Exploration & Production industry. With a rich history dating back to 1887, Marathon Petroleum has established itself as a key player in the energy sector. The company operates across North America and is involved in various aspects of the oil and gas value chain. From exploration and production to refining and marketing, Marathon Petroleum has a diverse portfolio. With approximately 60,000 employees, the company generates significant revenue of around 100 billion dollars. Committed to innovation and sustainability, Marathon Petroleum continues to shape the future of the energy industry.
#9 Phillips 66
Employees: 14K
Revenue: 108B$
Website: https://www.phillips66.com
Description: Phillips 66 is a leading company in the Oil & Gas Exploration & Production industry. Headquartered in Houston, United States, the company operates primarily in North America. With a history dating back to 1917, Phillips 66 has established itself as a key player in the energy sector. The company employs approximately 14,000 employees, who are dedicated to exploring and producing oil and gas resources. Phillips 66 generates substantial revenue, with an annual revenue of around 108 billion dollars. Their expertise and commitment to the industry have positioned them as a significant contributor to the energy sector, ensuring a reliable supply of oil and gas resources.
#8 Chevron Corporation
Employees: 48K
Revenue: 146.5B$
Website: https://www.chevron.com
Description: Chevron Corporation, headquartered in San Ramon, United States, is a major player in the Oil & Gas Exploration & Production industry. Founded in 1879, the company has a workforce of approximately 48,000 employees. With a revenue of 146.5 billion dollars, Chevron is known for its global operations in exploring, producing, and refining oil and natural gas. The company operates in various aspects of the industry, including offshore exploration, deepwater drilling, and shale gas production. Chevron's commitment to innovation and sustainability has led to the development of advanced technologies for energy extraction and production. With a strong presence in North America and international markets, Chevron continues to contribute significantly to the energy sector.
#7 Total SE
Employees: 107K
Revenue: 209B$
Website: https://www.total.com
Description: Total SE is a leading energy company headquartered in Paris, France. Founded in 1924, the company operates in the Oil & Gas Exploration & Production industry. With a workforce of approximately 107,000 employees, Total SE is actively involved in various activities related to the exploration and production of oil and gas. The company has a strong presence in Europe and operates globally, exploring and producing hydrocarbons across different continents. With a revenue of 209 billion dollars, Total SE is one of the largest players in the industry, contributing significantly to the energy sector.
#6 ExxonMobil Corporation
Employees: 74K
Revenue: 265B$
Website: https://www.exxonmobil.com
Description: ExxonMobil Corporation is a multinational oil and gas exploration and production company headquartered in Irving, United States. Founded in 1870, the company has a workforce of approximately 74,000 employees. With a revenue of 265 billion dollars, ExxonMobil operates in the Energy industry, specifically in oil and gas exploration and production. The company is involved in various activities related to the exploration, development, production, and sale of crude oil and natural gas. ExxonMobil is known for its extensive global operations and is one of the largest publicly traded companies in the world.
#5 BP PLC
Employees: 70K
Revenue: 280B$
Website: https://www.bp.com
Description: BP PLC, headquartered in London, United Kingdom, is a major player in the Oil & Gas Exploration & Production industry. Founded in 1909, the company has a workforce of approximately 70,000 employees. With a revenue of 280 billion dollars, BP operates in various segments of the energy sector, including exploration, production, refining, and distribution of oil and gas products. BP is engaged in upstream activities such as finding and extracting crude oil and natural gas from reserves across the globe. The company also operates downstream, with a strong presence in refining and marketing of petroleum products. BP is committed to delivering energy solutions while reducing its carbon footprint and embracing renewable energy sources.
#4 Royal Dutch Shell PLC
Employees: 86K
Revenue: 311B$
Website: https://www.shell.com
Description: Royal Dutch Shell PLC, headquartered in The Hague, Netherlands, is a prominent player in the Oil & Gas Exploration & Production industry. With a history dating back to 1907, Shell has established itself as a global leader in the energy sector. The company operates in various segments including Upstream, Downstream, and Integrated Gas. In the Upstream sector, Shell engages in the exploration and extraction of oil and gas resources around the world. They also have a significant presence in refining, marketing, and distribution through their Downstream operations. Shell's Integrated Gas segment focuses on the liquefaction and transportation of natural gas. With a workforce of approximately 86,000 employees, Shell generates substantial revenue, amounting to 311 billion USD. With its extensive operations and commitment to innovation, Shell continues to play a vital role in shaping the future of the energy industry.
#3 China National Petroleum Corporation
Employees: 2M
Revenue: 350B$
Website: https://www.cnpc.com.cn/
Description: China National Petroleum Corporation (CNPC) is a major player in the Oil & Gas Exploration & Production industry. Headquartered in Beijing, China, CNPC was founded in 1988. With a workforce of approximately 2 million employees, CNPC operates in various segments including exploration, production, refining, and marketing of oil and gas products. The company is involved in both upstream and downstream activities, encompassing exploration and development of oil and gas reserves, refining and processing of crude oil, as well as the distribution and marketing of petroleum and petrochemical products. CNPC has established a strong presence domestically and internationally, with operations in over 70 countries and regions. It is one of the largest oil and gas companies in the world, generating an estimated revenue of 350 billion dollars.
#2 PetroChina Company Limited
Employees: 464K
Revenue: 366.9B$
Website: https://www.petrochina.com.cn/ptr/
Description: PetroChina Company Limited, headquartered in Beijing, China, is a major player in the Oil & Gas Exploration & Production industry. Founded in 1999, the company has established itself as a leading energy corporation in China and globally. With a workforce of approximately 464,000 employees, PetroChina operates a vast network of oil and gas exploration, production, and refining assets. The company's operations span across various continents, including Asia, Africa, the Americas, and Europe. Through its strategic investments and partnerships, PetroChina aims to secure a sustainable supply of oil and gas resources to meet the growing energy demands of the world. In 2020, PetroChina reported a revenue of 366.9 billion US dollars, further solidifying its position as one of the largest companies in the industry.
#1 Lukoil
Employees: 100K
Revenue: 1.2T$
Website: https://www.lukoil.com
Description: Lukoil is a leading player in the Oil & Gas Exploration & Production industry. Headquartered in Moscow, Russia, the company has been in operation since its founding in 1991. With a workforce of approximately 100,000 employees, Lukoil is actively involved in the exploration, production, refining, and marketing of oil and gas products. The company operates in various regions around the world, including Russia, Europe, Asia, and the Americas. Lukoil's activities span the entire value chain, from exploration and production to the distribution of petroleum products. As one of the largest publicly traded oil and gas companies, Lukoil generates significant revenue, amounting to approximately 1.2 trillion USD.
Summary
The analysis of the top companies in the Oil & Gas Exploration & Production sub-industry has revealed some remarkable findings and achievements. These companies have been ranked based on their market capitalization, revenue, and production volume. Topping the list is ExxonMobil, followed by Chevron and Royal Dutch Shell. These companies have consistently shown their ability to navigate the challenges of the industry and deliver impressive results.
One unexpected finding is the increasing importance of sustainability and environmental responsibility in the oil and gas industry. Many of the top companies have made significant investments in renewable energy and are actively working towards reducing their carbon footprint. This shows a shift in the industry as it adapts to the growing demand for cleaner energy solutions.
ExxonMobil, the leading company in the sub-industry, is known for its global presence and extensive exploration and production operations. Chevron, the second-ranked company, has a strong focus on technology and innovation to drive efficiency and maximize production. Royal Dutch Shell, the third-ranked company, has a diverse portfolio and is actively investing in renewable energy.
These top companies share several common elements that contribute to their success. They have a strong focus on operational excellence, constantly striving for efficiency and cost reduction. They also prioritize safety and environmental stewardship, implementing stringent measures to mitigate risks and minimize their impact on the environment. Additionally, these companies have a robust research and development program, continuously seeking innovative solutions to improve production and exploration techniques.
What sets these eminent companies apart from their rivals is their ability to adapt to changing market conditions and embrace new technologies. They have successfully integrated digitalization into their operations, leveraging data analytics and automation to optimize exploration and production processes. These companies are also proactive in seeking partnerships and collaborations to expand their reach and diversify their portfolios. Their commitment to sustainability and renewable energy further differentiates them from their competitors, demonstrating their forward-thinking approach to the evolving energy landscape.