China Petroleum & Chemical Corporation (Sinopec) – $362bn
The petrochemical refining and distribution segment accounted for the majority (56.1%) of the company’s revenues in 2017, at approximately RMB1.32t ($203bn).
The segment witnessed a boost in revenue due to the rise in crude oil prices and increased sales volume of natural gas.
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Sinopec emerged fifth in the 2018 Most Valuable Chinese Brands List, which was released at the second China Brand Development Forum that was held in May 2018 by the State Administration of Market Supervision and Management of China.
The company’s main brands EPEC, Great Wall Lubricant and Easy Joy made it to the top 50 of the Top 100 China Brand Value Evaluation List in the energy and chemical industry.
China Petroleum & Chemical Corporation, also known as Sinopec Group, is an energy and chemical company based in Beijing.
The organisation’s business segments include oil and gas exploration and production, petroleum engineering, chemical marketing, petrochemical refining and refined products marketing, engineering and construction, as well as international trade.
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By GlobalDataRoyal Dutch Shell Plc – $305bn
Royal Dutch Shell’s operations are divided into four businesses, namely upstream, integrated gas, new energies and downstream.
The downstream business, which includes supply of fuel and lubricants to various industries, was the biggest contributor to the company’s revenues in 2017, accumulating a total of $268bn.
Shell simplified its upstream portfolio by divesting its North Sea assets in the UK to Chrysaor for $3.8bn in 2017.
The divestment included the company’s interests in the Buzzard, Beryl, Bressay, Elgin-Franklin, J-Area, the Greater Armada cluster, Everest, Lomond and Erskine fields.
Shell also announced the start-up of several key projects, including the Lula and Libra offshore oilfields along with the third train of the Gorgon LNG facility.
Netherlands-based Royal Dutch Shell is an oil and gas company that is primarily focused on the exploration, development, production, refining and marketing of oil and natural gas, as well as related chemicals.
It operates in more than 70 countries worldwide and produced more than 66 million tonnes (Mt) of LNG in 2017.
China National Petroleum Corporation – $269bn (2016 revenue)
Global energy firm China National Petroleum Corporation (CNPC) witnessed a 7.2% year-on-year decrease in revenue to $269bn in 2016 due to the low oil and gas prices at that time.
The company is the only entry on the list not to have declared 2017 revenues.
A major portion of CNPC’s revenue is contributed by PetroChina, which recorded $309bn worth of revenue in 2017.
CNPC produced 105.45Mt of crude and 98.1 billion cubic metres of natural gas domestically in 2016.
Its domestic and international oil and gas production totalled 259.63Mt of oil equivalent the same year.
The company also added proven domestic natural gas reserves of 541.9 billion cubic metres and proven domestic oil reserves of 649.29Mt in 2016.
CNPC operates an oil and gas pipeline infrastructure spanning 81,200km and is recognised as one of the biggest petrochemical companies in China.
It currently operates oil and gas projects in 35 countries worldwide with a workforce of approximately 1,463,700.
BP Plc – $240bn
Strong operating performance from both Upstream and Downstream segments helped surge BP’s 2017 revenue by 31% from $183bn in 2016.
The company witnessed a 12% increase in upstream production and a 24% increase in underlying profit from downstream earnings in 2017 compared to the previous year.
It transported a total of 1.5bn barrels of oil equivalent during the same year.
BP’s average daily hydrocarbons production increased by 10% year-on-year to 3.6 million barrels of oil equivalent in 2017.
The company produced 15.3Mt of petrochemical products in 2017 and reported a refinery throughput of 1.7 million barrels a day.
Its proven hydrocarbon reserves amounted to 18.44 billion barrels of oil equivalent as of the end of 2017.
BP is headquartered in London, UK, and provides customers with energy products and services relating to oil, natural gas, petrochemicals and power.
The company operates with 74,000 employees across 70 countries worldwide.
Its business segments include Upstream, Downstream, Rosneft, and other businesses.
BP started seven major projects within its Upstream segment during 2017.
ExxonMobil – $237bn
ExxonMobil reported revenue of $237.1bn in 2017, marking an 18.2% increase over 2016.
The increase in revenue was primarily driven by its upstream and downstream activities.
The company’s natural gas production increased from 84 million cubic feet a day in 2016 to 10.21 billion cubic feet during 2017.
ExxonMobil produced 2.28 million barrels of liquids in the 2017 and processed four million barrels of oil equivalent (boe) a day the same year, representing a 4% decrease in processing rates compared to 2016.
It sold 5.5 million barrels of petroleum products a day and 25.4Mt of chemical products in 2017.
The company’s refinery throughput stood at 4.29 million barrels a day as of the end of 2017.
ExxonMobil is a US-based international oil and gas company engaged in oil and gas operations.
The company markets oil and gas products within six continents and possesses an employee base of roughly 70,000.
It acquired a 25% stake in the Area 4 block in Mozambique and acquired the InterOil Corporation in 2017.
Vitol Holding BV – $181bn
Vitol Holding BV’s annual revenue in 2017 was boosted by the rising oil prices along with crude oil and product trading, which increased year-on-year to 3.6 million barrels a day, or 178Mt.
Gasoline volumes, however, decreased by 22.7% from 44Mt in 2016 to 34Mt in 2017, while LPG volumes also declined.
Vitol Holding shipped 349Mt of crude oil, gasoline and diesel in 2017, nearly unchanged from 351Mt a year before, at an average of seven million barrels a day.
The company witnessed a continuous expansion of its midstream and downstream portfolios in Africa, Europe and Eurasia in 2017.
Vitol Holding operates 40 offices globally with major operations in Geneva, Houston, London and Singapore, and possesses approximately 5,000 service stations.
The company acquired Turkish firm Petrol Ofisi from OMV in June 2017, adding 1,700 service stations to its network.
It also took over the Noble Americas Corporation from the Noble Group in January 2018.
Total SA – $149bn
Total’s revenue in 2017 increased by 16.5% year-on-year to $149bn, compared to $127.9bn in 2016, courtesy of rising oil prices and production rates.
Total’s hydrocarbons production increased by 5% to 2.56 million barrels of oil equivalent (Mboe) a day in 2017, primarily due to an increase in production and new start-ups.
The company holds 11,475Mboe of hydrocarbon reserves as of 2017.
It shipped 133 million metric tonnes (Mmt) of crude oil and petroleum products in 2017, compared to 131Mmt in 2016.
The company managed 15.6Mmt of LNG volumes in 2017. Its refinery throughput was down by 7% in 2017 compared to the previous year, while its refining capacity in the year stood at 2.02 million barrels a day.
France-based Total operates in more than 130 countries with a workforce of approximately 98,000.
Its activities include oil and gas production, refining, petrochemicals, sales and marketing.
The company’s business segments include Exploration & Production, Gas, Renewables & Power, Refining & Petrochemicals, and Marketing & Services.
Total is the second biggest refining company in Western Europe and holds equity stakes in 18 refineries.
Chevron Corporation – $134bn
Chevron’s revenue in 2017 was driven primarily by its upstream business segment.
The company’s net oil equivalent production in the year increased by 5% to 2.72 million barrels a day over 2016, while its net liquids production stood at 1.72 million barrels per day.
Chevron produced 6,032 million cubic feet of net natural gas in 2017 and the company’s net proven reserves at the end the year amounted to 11.7 billion barrels of oil equivalent.
The company’s acreage in the Permian Basin amounts to approximately 2.2 million net acres as of December 2017, while its Permian Basin unconventional production stood at an average of 181,000 net oil equivalent barrels a day.
Chevron is a US-based integrated energy firm that operates two main business segments, Upstream and Downstream, with a workforce of roughly 48,000.
The company’s activities include the exploration, production and transportation of crude oil and natural gas, and the refining and distribution of fuels and lubricants, as well as the manufacture and sale of petrochemicals and additives.
Gazprom – $113bn
International energy company Gazprom reported revenue of $113bn, which was attributable to the growth in production of crude oil and gas condensate, in addition to the sale of refined products and transportation of gas.
Gazprom’s crude oil production rose by 4% year-on-year to 59.5Mt in 2017.
Its gas exports to European countries hit a record of 194.4 billion cubic metres in 2017, up 8% year-on-year.
The company’s gas reserves as of the end of 2016 were 36.44 trillion cubic metres of gas, while its gas condensate and oil reserves amounted to 1.53 billion tonnes and 2.07 billion tonnes respectively.
Gazprom is the biggest producer and exporter of liquefied natural gas in Russia.
It employs 237,400 people across its businesses, which include the exploration, production, transportation, distribution, storage and sale of natural gas, along with the processing of oil and gas, sale of refined products and power generation.
Rosneft Oil Co – $104bn
Rosneft achieved a 2% year-on-year growth in revenues in 2017.
The company’s hydrocarbons production rate increased by 0.3%, while its oil refining capacity increased by 12.5%.
Rosneft acquired a 30% interest in the Zohr field from Eni SPA for a sum of $1.1bn in 2017.
The acquisition is expected to strengthen the company’s oil and gas production portfolio.
Rosneft also acquired Independent Petroleum Company LLC for $849m and a 49% stake in Essar Oil Limited.
The acquisitions are anticipated to improve Rosneft’s refining capacity and grant the company access to new markets.
Rosneft is a Russian oil and gas company involved in the exploration, production and marketing of oil and gas.
The company is jointly owned by a consortium of JSC ROSNEFTEGAZ (50%), BP Russian Investments Limited (19.75%), QHG Oil Ventures Pte Ltd (19.5%), National Settlement Depository (10.38%), other legal entities (0.01%), the Russian Federation (0.01%), individuals (0.35%) and unknown members (0.01%).
