The World’s Largest Oil & Gas Companies 2018

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This year’s ranking of the largest companies in the world brings few changes to the Oil & Gas companies. The biggest upturn can be seen in the revenues, all the big players reported significant growth due to the higher commodity prices than last year. With higher profits Oil & Gas companies were ranked higher this year, showing that if only oil keeps the price they can still compete with other modern high-value industries. The upturn we could have seen during last year brought Oil & Gas companies back to the head of this list. WTI crude with the average price $51 per barrel in 2017, raised $7 per barrel over the previous year, according to the U.S. Energy Information Administration. Earlier this year WTI oil prices hit the level of $72 per barrel but again fall to $65 due to the tension between US, Russia and Saudi Arabia. The last two indicated they may increase production later this year in response to US criticism about rising prices. Although there are signs to predict further oil prices rise such as Venezuelan production cut, the impact of Iranian sanctions on supply and Saudi Aramco IPO, where Saudi Arabia would prefer higher oil prices.

The Forbes Global 2000 is determined by a composite score of equally weighted measures of revenue, profits, assets and market value.

Royal Dutch Shell took the top spot among oil and gas companies on the Forbes Global 2000′s list of the biggest and most powerful public companies, surpassing last year’s leader Exxon Mobil Corp.

The Anglo-Dutch company was ranked 11th among all companies on the list, gaining 9 levels up from the 20th position last year. The US, Texas-based Exxon kept 13th, same as last year.

Chevron Corp. was the third-biggest oil and gas company on the list with a 21st ranking compared with 359th the previous year, which it ended $431 million in the red because of lower commodity prices, among other things.

France’s Total SA was the fourth-ranked oil and gas company on the list, followed by China Petroleum & Chemical Corp., known as Sinopec, and PetroChina Co. Ltd.

BP plc, Gazprom and Rosneft of Russia and India’s Reliance Industries Ltd. rounded out the top 10.

 The top 25 oil and gas companies on the Forbes Global 2000 earned $144.6 billion on sales of $2.9 trillion during the list’s 12-month measurement period, way up from $73 billion in earnings on sales of $2.2 trillion the previous year and $81 billion in earnings on sales of $2.6 trillion the year before that.

Source: Forbes

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