The Big Oil Show: Meet the Titans Powering Our Planet
Wealth2 Minutes Read

The Big Oil Show: Meet the Titans Powering Our Planet

May 29, 2024 Share



Have you ever wondered who’s behind the oil that heats your house and powers your daily commute? Let’s explore the power players influencing the energy world!

As we work toward a more environmentally friendly future, oil continues to play a significant role in the world economy. The oil industry is dominated by a small number of nations and businesses that hold substantial political and economic sway. Join us for an exciting tour of the leading actors transforming the energy scene.

Image Courtesy of Business2Community

The Big Giants in Oil Production

In terms of oil production, the United States, Russia, and Saudi Arabia are the dominant players, with a combined output of 32.7 million barrels per day in 2023. These three have been vying for the top slot since 1971, and there doesn’t seem to be a clear winner to unseat them. However, the next three biggest producers, Iraq, China, and Canada, together handle just more than 13 million barrels per day—barely more than the United States alone. Saudi Arabia had ambitious intentions to reach 13 million barrels per day by 2027, but those goals have since been canceled.

Saudi Aramco: The Oil Giant

– Revenue: $590.3 billion (total time)
– Net Income: $156.5 billion
– Market Capitalization: $1.8 trillion
– Exchange: Stock Exchange of Saudi Arabia

Not only is Saudi Aramco the largest oil firm in terms of revenue, but it is also among the biggest corporations globally. It is not traded on U.S. exchanges like the majority of others. This state-owned behemoth is a major participant on the international scene thanks to its substantial operations in the United States, Europe, and Asia.

Sinopec: China’s Oil Powerhouse

Revenue:  $405.4 Billion
Net Profit: $10.54 Billion  
Ownership: State-owned 
Nationality: China 

On this list, Sinopec leads the revenue charts. This massive state-owned company, with its headquarters in Beijing, is heavily involved in all facets of the oil and gas sector, from production to exploration. In China’s energy industry as well as other markets, Sinopec is essential.

Exxon Mobil Corp. (XOM)

  • Revenue: $386.8 billion
  • Net Income $51.9 billion
  • Market Cap: $445 billion
  • 1-Year Trailing Total Return: 85.6%
  • Exchange: New York Stock Exchange

Gas and oil production around the world is synonymous with Exxon Mobil. Exxon Mobil, a company well-known for its enormous earnings, explores, produces, and markets natural gas and oil on six continents. Its brands, Exxon, Mobil, and ExxonMobil, are well-known across the globe.


  • Revenue: $184.634 billion
  • Net Income: $18.06 billion
  • Market Capitalization: $150.47 Billion
  • Ownership: Public
  • Nationality: France
  • Barrels per day (mboe/d): 2.819 million

The French multinational TotalEnergies is among the world’s most valued oil businesses. With a $150.47 billion market valuation as of early 2024, it solidified its position as one of the global giants in the energy sector.


  • Revenue: $272.657 billion
  • Net Income: $20.638 billion
  • Ownership: Public Limited Company
  • Nationality: UK-Netherlands
  • 2021 Barrels per day (mboe/d): 3.237 million
  • Employees: 80,000+

Shell is still a major player in the oil sector with its unique emblem and wide network of service stations. Shell Transport and Trading Company and Royal Dutch Petroleum merged to form the company in 1907, and it is still a significant player in the global energy market.

In the global economic ring, oil continues to be the heavyweight champion even as the globe races toward renewable energy. In addition to dominating the oil production sector, the dynamic trio of nations and their impressive array of corporations, including Saudi Aramco, Sinopec, Exxon Mobil, TotalEnergies, and Shell, also play a significant role in the global economic arena. Every move they make combines the futuristic appeal of green energy with the classic swagger of oil, akin to a high-stakes game of chess. Therefore, gather your popcorn and tune in—the energy sector is a program you won’t want to miss!

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Author: perihan