9 Biggest Oil Companies in the World

Saudi Aramco is widely considered the largest oil company in the world and the most valuable energy company by market cap. The company holds a market capitalization of roughly $1.7 trillion and plays a dominant role in the global energy market.

Saudi Aramco controls roughly 10 percent of global oil supply and produces more than 10 million barrels per day. Total hydrocarbon production reached about 12.9 million barrels of oil equivalent per day in 2025.

The company owns and operates the massive Ghawar field, the largest oil field on Earth. Through its oil and gas operations, Saudi Aramco remains a major player influencing energy security and supply across the world.

ExxonMobil ranks among the largest oil and gas companies globally with a market capitalization of around $650 billion. The company explores, produces, trades, transports, and sells crude oil and natural gas across a wide global network.

ExxonMobil operates in more than 50 countries and focuses heavily on oil natural gas production and petrochemical products. The company also invests in emerging technologies such as carbon capture and storage as it balances fossil fuels with new global energy strategies.

In 2024 the company reported sales and other operating revenue of about $339.2 billion.

Chevron Corporation is another major oil company with a market capitalization near $393 billion. As an integrated oil and gas company, Chevron manages both upstream exploration and downstream operations.

Chevron's upstream division focuses on exploration and production of crude oil and natural gas. Its downstream operations include refining, transportation, and marketing of petroleum products such as gasoline, diesel, and jet fuel.

The company maintains large oil and gas projects in areas such as the Permian Basin, Kazakhstan, and the Gulf of Mexico, giving Chevron strong influence in global oil gas production.

PetroChina is the largest oil and gas producer in China and one of the biggest oil companies in the world by market capitalization, estimated around $313 billion.

The company contributes roughly 50 percent of China's domestic crude oil production and about 60 percent of its natural gas output. PetroChina plays a major role in maintaining the country's energy security while supporting the broader global energy supply.

Its oil and gas operations cover exploration, production, refining, and distribution across China and international markets.

Shell is one of the most recognizable companies in the global oil industry. With a market capitalization of approximately $253 billion, the company operates oil and gas operations in more than 70 countries.

Shell explores and produces oil natural gas while also refining petroleum products and manufacturing petrochemical products used in plastics and industrial materials. The company reported revenue of about $266.9 billion for 2025.

Shell is also known for its strong focus on integrated gas and large natural gas projects. At the same time, the company continues investing in renewable energy and biofuels.

Sinopec is one of the largest companies in the global oil and gas industry and a major producer of petrochemical products. The company is widely recognized as one of the world's largest refiners.

Its operations span exploration, refining, transportation, and marketing of petroleum products. Sinopec also manufactures chemicals and fuels used throughout the global economy.

The company's extensive refining network makes it a critical supplier of fuels and industrial materials across Asia and international markets.

TotalEnergies ranks among the largest oil and gas companies with a market capitalization near $177 billion. The company explores and produces crude oil and natural gas while also generating low carbon electricity.

TotalEnergies has been making strategic investments in renewable energy technologies including solar, wind, and biofuels. Despite expanding into renewable fuels, oil production, and gas operations still represent a large share of the company's global energy portfolio.

The company's strategy reflects the broader shift occurring across the energy sector as companies invest in both traditional fuels and new energy technologies.

BP PLC is another major player in the global oil and gas industry with a market capitalization around $110 billion. The company operates large oil and gas projects involving exploration, production, and supply of petroleum and petrochemical products.

BP is actively expanding investments in renewable energy, biofuels, and low-carbon energy technologies. However, oil and gas operations remain the core of its revenue as the company continues supplying fuels used throughout the global economy.

Valero Energy Corporation stands out as the largest independent petroleum refiner in the world. The company operates refining systems capable of processing roughly 3.2 million barrels per day.

Valero is also the world's second largest producer of renewable diesel. Its refining operations convert crude oil into fuels such as gasoline, diesel, and jet fuel used in transportation and industry.

The global oil industry is dominated by a small group of extremely powerful companies. These corporations influence the supply of crude oil, natural gas, and refined fuels that drive the global economy.

Government policies, geopolitical tensions, and supply disruptions can dramatically affect energy markets. For example, ongoing conflicts involving major countries have created volatility in oil prices and supply chains.

Despite increasing investment in renewable energy, oil remains the backbone of operations for many major oil companies. The future of the energy sector will depend on how these companies continue investing in innovation, expanding energy production, and adapting to new global energy demands.

We created this article in conjunction with AI technology, then made sure it was fact-checked and edited by a HowStuffWorks editor.