The oil sector has always been one of the pillars of the world economy and also in 2023 it remains a sector of primary importance. Oil companies continue to provide a crucial source of energy for industry, transportation and people's daily needs.
In this article we will explore the ten largest oil companies of 2023, based on financial valuations and oil production. Saudi Aramco, Saudi state oil company remains in first place among the world's largest oil companies in 2023.
Its oil production continues to be impressive and its oil fields are among the largest in the world. ExxonMobil is one of the best-known oil companies and with a long history in the industry, ExxonMobil remains solid in second place.
The company has diversified its operations into different energy sectors to meet future challenges.
Also a US company, Chevron occupies the third position. With a large global presence and substantial investments in research and development, Chevron continues to be a major supplier of oil.
One of the best-known British multinationals, BP remains one of the leading oil companies in 2023. Following the ecological accident in the Gulf of Mexico in 2010, the company revised its policies and focused on clean energy.
The French company recently renamed itself TotalEnergies to reflect its commitment to an energy transition towards renewable energy. Despite this, TotalEnergies continues to be a major player in the oil sector.
The biggest oil companies of 2023
The Russian company Gazprom is known for its natural gas production, but it also has a significant presence in the oil sector.
It is one of the most important and influential energy companies in the world. Another Russian company, Rosneft, is one of the world's largest oil companies. It mainly focuses on oil production and refining and manages several international projects.
As the name suggests, PetroChina is a Chinese oil company that plays a key role in the Chinese and global energy market. It operates in both oil production and refining. As Kuwait's main oil producer, Kuwait Petroleum Corporation is one of the most important oil companies in the Middle East.
It has several active divisions around the world. This Norwegian company has a unique position in the oil industry thanks to its operations in offshore oil exploration and production. Equinor is also investing in the transition to renewable energy.
Despite the increase in renewable energy and policies aimed at decarbonization, oil companies remain important players in a world still heavily dependent on oil.