Biggest Oil Companies in the World
The importance of oil has not stopped growing since its first industrial applications in the mid-nineteenth century, and its demand is increasing rapidly with passage of time. here we will discuss largest oil companies in the world, The global oil discoveries attracted the attention of companies, both private and state, who were devoted to extract this wealth that exists in the subsurface.
At present many companies have the this business: from extracting oil and gas through pipelines and installation of platforms, to the production of derivatives as fuel and plastics. The world’s major top oil companies are located in four continents: Asia, Europe, America and Africa. The most important, The Middle East is one of the places where there are large reserves of crude account. There is the half of the world’s oil reserves: 1.2 billion barrels , approximately.
The vast wealth that exists on that side of the planet began to astonish the oil after the Second World War with the discovery of large oilfields in Saudi Arabia and Iran, according to Ephraim review Barberii, author of The Well Illustrated. Only these two countries have a third of the oil reserves in the world. also the gas production statistics resemble with oil extraction countries mainly the oil and gas are little identical natural resources found near to each other.
According to a report published in the journal Comparative Petroleum Weekly Intelligence over 100 major oil companies, the first place is the state of Saudi Arabia: Aramco. The report takes into account several aspects: investment, sales, refining and production. Aramco currently produces 8.9 million barrels of crude oil and its reserves are in the order of 264 billion barrels. the crude oil is processed through hundreds of steps for finalization of petroleum, gasoline and other usable products.
Upscale. Besides Iran, the UAE and China, the list also includes three Latin American and Brazil’s Petrobras that ranks # 15, Mexico’s Pemex in 11th and Petroleos de Venezuela which rose from fifth to fourth step.
Following is the list of world’s biggest and top five oil companies according to their revenue generation: The first one is based in united states.
Top 5 Largest Oil Companies in the World (List)
PDVSA produced 3.2 million barrels a day, according to official figures at the end of last year. According to the ranking published by Petroleum Intelligence Weekly, the corporation passed in 2008 from fifth to fourth place among the world’s most important companies.
The company has been accumulating assets in the order of U.S. $ 131.832 million in 2008, representing an increase of U.S. $ 24.938 million (23%) compared to the previous period. These variations are mainly due to increase in property, plant and equipment as a result of investments established in the business plan of the company and also the product of nationalization.