Sinopec continued to lead the world’s biggest oil and gas companies in 2018, enjoying a double-digit revenue growth when compared to 2017.
The majority of the ten biggest witnessed a similar double-digit growth, which was as high as 31.4% for Rosneft. Offshore-technology.com profiles the ten biggest oil and gas companies by 2018 revenues, excluding the state-owned Saudi Aramco.
Index of this series of articles covering the top 10 Oil & Gas companies:
- 10. Phillips 66
- 9. Lukoil
- 8. Rosneft
- 7. Chevron
- 6. Total
- 5. ExxonMobil
- Numbers 4, 3, 2 and 1 will be published on April 9nd, 2019
7. Chevron – $158.9bn
US-based multinational energy corporation Chevron reported a 17.99% year-on-year revenue growth to $158.90bn in 2018. The company’s net oil-equivalent production in 2018 averaged at 2.93Mbpd, compared with 2.73Mbpd in 2017. The net liquid production was 1.78Mbpd, whereas the net natural gas production was 6.9bcfd.
With an average refinery input of 1.61Mbpd, the company’s sales of refined products stood at 2.6Mbpd. The company’s top six refineries in Singapore, Thailand and South Korea, as well as the US states of California and Mississippi, comprise more than 90% of its total crude oil refining capacity.
The company’s ongoing flagship projects include Gorgon, Wheatstone, Tengiz Expansion, Big Foot, Mafumeira Sul, Alder, and Angola LNG. In December 2018Chevron announced a $20bn ($17.3bn upstream and $2.5bn downstream) investment programme for 2019.
6. Total – $209.36bn
French energy company Total’s revenues increased by 22.08% to $209.36bn in 2018. The refinery and chemical segment contributed 44%, while the marketing and services segment accounted for 43%, and the exploration and production segment had a 5.25% share of the total revenue.
The company’s total hydrocarbon production increased by 8.1% to 2.78Mboe/d in 2018. Liquids production increased by 16% to 1.56Mbpd, while gas production decreased by 1% to 6.59bcfd. Its refinery throughput increased by 1% to 1.85Mbpd in the year.
The major project start-ups and ramp-ups during the year included the Egina field, Yamal LNG, Moho Nord, Fort Hills, Kashagan, Kaombo Norte, and Ichthys.
5. ExxonMobil – $290.2bn
US-based oil and gas major ExxonMobil’s revenue increased by 18.76% to reach $290.2bn in 2018. The company produced 2.26Mbpd of liquids and 9.4 billion cubic metres (bcm) of natural gas a day in 2018.
With a refinery throughput of 4.27Mbpd, ExxonMobil reported average petroleum product sales of 5.5Mbpd in 2018. The US market accounted for 2.2Mbpd of the company’s petroleum product sales, while 1.55Mbpd was sold in the European market.
ExxonMobil made its final investment decision to develop the West Barracouta gas field in Bass Strait to bring gas supplies to the Australian domestic market. It also secured LNG offtake commitments for its upcoming Rovuma LNG project in Mozambique during the year.