The Largest Oil And Gas Companies in 2022 

Oil remains a dominant source of energy worldwide, fueled by giant oil corporations that feed billions of barrels daily of petroleum products to energy thirsty economies. 

All this despite rising public concerns about climate change and moves to reduce the use of carbon-based fuels such oil.

The pandemic brought strong headwinds for the oil and gas industry, and oil majors felt the blow.

Global primary energy consumption fell by 4.5% relative to 2019 and oil demand declined by 9%. For a brief period in April 2020, the price of West Texas Intermediate (WTI) crude futures went subzero, marking the largest one-day price plunge since 1983. 

Oil prices have suffered from extreme volatility in 2020 as a result of the COVID-19 pandemic and exacerbating trade tensions. 

But many of the world's leading oil companies still have generated significant revenue. We look below at the 10 biggest oil companies by 12-month trailing (TTM) revenue. 

While Chinese and U.S. companies make up half of the 10 companies, major players also are from Saudi Arabia, Europe and Russia. This list is limited to companies which are publicly traded in the U.S. or Canada, either directly or through ADRs. 

Some foreign companies may report semiannually, and so may have longer lag times. 

Biggest Oil Companies 

1.) China Petroleum and Chemical Corp. (SNP) 

China Petroleum and Chemical is a producer and distributor of a variety of petrochemical and petroleum products. 

The company's products include gasoline, diesel, kerosene, synthetic rubbers and resins, jet fuel, and chemical fertilizers, among other related offerings. 

Also known as Sinopec, China Petroleum & Chemical is among the very largest oil refining, gas, and petrochemical companies in the world.

• Revenue (TTM): $355.8 billion

• Net Income (TTM): $486.6 million

• Market Cap: $53.9 billion

• 1-Year Trailing Total Return: -19.9%

• Exchange: New York Stock Exchange.  

2.) PetroChina Co. Ltd. (PTR) 

Oil and gas company PetroChina is engaged in oil products exploration, development, production, and sales. 

The company's primary products include crude oil, petrochemical products, and their derivatives. 

PetroChina is the exchange-listed branch of the Chinese state-owned China National Petroleum Corporation and is counted among the largest oil and gas producers in business today. 

• Revenue (TTM): $320.0 billion

• Net Income (TTM): -$1.8 billion

• Market Cap: $59.5 billion

• 1-Year Trailing Total Return: -33.0%

• Exchange: New York Stock Exchange. 

3.) Saudi Arabian Oil Co. (Saudi Aramco) (Tadawul: 2222)

 Saudi Aramco, which went public in 2019, is one of the largest companies in the world across all industries, as well as among the very largest global oil companies by revenue. 

This company is unusual in this list in that its stock does not trade in the U.S. 

While Investopedia would not normally include non-U.S.-listed stocks, Saudi Aramco is such a major player in the oil industry that a list of the biggest oil companies would not make sense without including it. 

Revenue (TTM): $286.9 billion

Net Income (TTM): $64.5 billion

Market Cap: $1.9 trillion

1-Year Trailing Total Return: 1.4%

Exchange: Tadawul. 

4.) Royal Dutch Shell PLC (RDS.A) 

Based in the Netherlands, Royal Dutch Shell explores, produces, and refines petroleum through its subsidiary companies. 

In addition to operating gas stations around the world, Shell produces and sells fuels, lubricants, and other chemicals.

• Revenue (TTM): $263.1 billion

• Net Income (TTM): -$11.3 billion

• Market Cap: $109.4 billion

• 1-Year Trailing Total Return: -46.8%

• Exchange: New York Stock Exchange. 

5.) BP PLC (BP)

British oil company BP is involved in oil and petrochemical exploration, production, and supply. 

The company refines and sells petroleum products including chemicals such as acetic acid, ethylene, polyethylene, and terephtalic acid. BP also generates solar energy for sale as well.

• Revenue (TTM): $230.7 billion

• Net Income (TTM): -$21.9 billion

• Market Cap: $68.1 billion

• 1-Year Trailing Total Return: -42.2%

• Exchange: New York Stock Exchange. 

6.) Exxon Mobil Corp. (XOM)

This is a global petroleum and petrochemicals business. The company explores, produces, trades, transports, and sells oil and natural gas. 

It's also involved in electrical power generation through coal and minerals operations. Among the many products that Exxon Mobil sells are fuel, lubricants, and other petroleum-derived chemicals. 

After Saudi Aramco, Exxon Mobil is the second-largest oil company in the world by market value even though Exxon Mobil is more than 10 times smaller than the Saudi Arabian company. 

• Revenue (TTM): $213.9 billion

• Net Income (TTM): $7.2 billion

• Market Cap: $161.4 billion

• 1-Year Trailing Total Return: -42.5%

• Exchange: New York Stock Exchange. 

 7.) Total SE (TOT)

Total, headquartered in France, explores and produces crude oil, natural gas, and low-carbon electricity. 

Total also refines and produces petrochemical products. The company owns and operates gas stations throughout Europe, the U.S., and Africa. 

Like most of its large competitors, Total is an integrated energy company that engages in all aspects of the oil and gas business, from exploration through sale.

• Revenue (TTM): $146.1 billion

• Net Income (TTM): -$2.9 billion

• Market Cap: $99.9 billion

• 1-Year Trailing Total Return: -19.5%

• Exchange: New York Stock Exchange. 

8.) Chevron Corp. (CVX)

Chevron is an integrated oil company with primary business operations both upstream and downstream. 

The upstream division is involved in the exploration and production of oil and natural gas, while the downstream operations cover refining, transportation, and marketing. 

Chevron is also involved in chemical and mining operations as well as non-energy activities such as technology development.

• Revenue (TTM): $115.0 billion

• Net Income (TTM): -$8.7 billion

• Market Cap: $147.5 billion

• 1-Year Trailing Total Return: -29.8%

• Exchange: New York Stock Exchange. 

9.) Marathon Petroleum Corp. (MPC)

Marathon is a crude oil refining company. Serving customers across the U.S., the company refines, supplies, transports, and sells petroleum products. 

Marathon is leaseholder or owner of thousands of miles of petroleum pipelines and has been the owner of the Speedway gas station chain. In early August, Marathon agreed to sell Speedway and its 4,000 outlets to Japan's Seven & i Holdings, for for $21 billion. 

The Japanese retailer is owner of 7 Eleven. 

• Revenue (TTM): $102.4 billion

• Net Income (TTM): -$7.7 billion

• Market Cap: $21.0 billion

• 1-Year Trailing Total Return: -35.2%

• Exchange: New York Stock Exchange. 

10.) PJSC Lukoil (LUKOY) 

Russian oil and gas company Lukoil conducts exploration, production, refining, transportation, and marketing of petroleum products primarily in the Siberian region. 

The company distributes oil and petroleum through an extensive pipeline system and by ship, serving customers in both Russia and the U.S.

• Revenue (TTM): $99.1 billion

• Net Income (TTM): $3.9 billion

• Market Cap: $40.3 billion

• 1-Year Trailing Total Return: -18.9%

• Exchange: OTC. 

The Largest Oil and Gas Companies by Market Cap. 

  1.) Saudi Aramco _ $1,979 _ Saudi Arabia 🇸🇦

  2.) ExxonMobil _ $257.30 _ U.S. 🇺🇸

  3.) Chevron _ $205.29 _ U.S. 🇺🇸

  4.) Shell _ $175.28 _ Netherlands 🇳🇱

  5.) PetroChina _ $162.55 _ China 🇨🇳

  6.) TotalEnergies _ $130.56 _ France 🇫🇷

  7.) Gazprom _ $121.77 _ Russia 🇷🇺

  8.) ConocoPhillips _ $95.93 _  U.S. 🇺🇸

  9.) BP   _   $93.97  _   U.K. 🇬🇧

10 .) Rosneft _ $84.07 _ Russia 🇷🇺  

11.) Equinor _ $83.60 _ Norway 🇳🇴

12.) Enbridge _ $82.82 _ Canada 🇨🇦

13.) Sinopec _ $80.48 _ China 🇨🇳

14.) Novatek _ $79.18 _ Russia 🇷🇺

15 .) Duke Energy _ $78.08 _ U.S. 🇺🇸

16.) Petrobras _ $69.91 _ Brazil 🇧🇷

17.) Company _ $66.64 _ U.S. 🇺🇸

18 .) Lukoil _ $64.70 _ Russia 🇷🇺

19.) CNOOC _ $52.04 _ China 🇨🇳

20.) Enterprise Products _ $50.37 _ U.S. 🇺🇸 

Big Oil, Bigger Emissions 

Due to the nature of fossil fuels, the biggest oil and gas companies are also among the biggest greenhouse gas (GHG) emitters.

In fact, Saudi Aramco is the world’s largest corporate GHG emitter and accounts for over 4% of the entire world’s emissions since 1965. Chevron, Gazprom, ExxonMobil, BP, and several other oil giants join Aramco on the list of top 20 GHG emitters between 1965 and 2017.

Shifting towards a low-carbon future will undoubtedly require the world to rely less on fossil fuels. But completely shunning the oil and gas industry isn’t possible at the moment, as shown by the global energy crisis.