World’s Next Top Oil Company

Posted by Oilism.com on January 1st, 2008 at 03:29pm

As you may know, oil & energy companies are becoming some of the richest companies in the world, even toping larger companies like Microsoft and Apple. Just last year, ExxonMobile, America’s largest oil company, toped at 195 billion dollars. Second in the US ranking was the ChevronTexaco with over 130 billion dollars, but spent over 6 billion that same year.

The absolute top oil company of the world is Saudi Aramco which is a state owned national oil company for Saudi Arabia which is headquartered in Dhahran. Saudi Aramco owns and operates within the world’s largest hydrocarbon network.

Coming up to the second in row of Worlds Largest Oil Companies is Petroleos Mexicanos (or PEMEX), which distributed just over 1270 million barrels of crude oil in 1998. PEMEX is the stat-owned, nationalized petroleum company for Mexico, and is located in Mexico City. PEMEX made over 98 billion dollars in 2006 and employees over 138,000 people.

Even more interesting is number 5 for world distribution which is a company called Petroleos de Venezuela, which is located in Caracas, Venezuela, and distributed over 1200 million barrels in 2006. This oil company is 100% ownership of Hugo Chavez and toped its revenue at over 100 billion dollars in 2006, and is expected to release even more profit when the yearly figures for 2007 come in. This company was founded in 1975, and ever since has had record amounts for producing and refining crude oil, revenue income, and company popularity – imago.

Energy Intelligence produces every year the complete Top 50 of Oil companies worldwide. The past annual reports are available on the EI website but for the race of World’s Next Top Oil Company the following key findings are already published;

• Saudi Aramco holds on the poll position for 2008 and leaves the oil competition way behind.  Their ongoing investment in both downstream as upstream oil and gas producing/refining is paying them out in the first place of the Top 50 2007 Oil Companies.
• ConocoPhillips makes top ten debut; Mexico’s Pemex drops out of the top ten
• For the first time in years, Iran’s NIOC enters the top 10, helped by the ascent of ConocoPhillips and its acquisition of Burlington Resources, which moved it ahead of Chevron and Total.
• Russia’s Novatek enters the Top 50 on position 49. These rankings are based on rapid increases in both their oil and gas supplies and oil output. Japanese Inpex benefits from its merger with Teikoku Oil.

Under Middle East+ Oil