20 World’s Biggest Oil and Gas Corporations

 

20 World’s Biggest Oil and Gas Corporations in 2025

 

20 World’s Biggest Oil and Gas Corporations in 2025-According to the Annual Report of Oil and Gas Corporations in 2025, there are 20 Biggest Oil and Gas Corporations in the World. This company certainly has abundant total assets with profits/ net income of up to billions of US dollars. As we all know, these corporations certainly have abundant oil and gas production and with huge oil and gas deposits/ reserves, which can be processed into some useful derivative products for example diesel fuel, heating oil, jet fuel, petrochemical feedstocks, waxes, lubricating oils, and asphalt. 

Chemically, oil and gas are natural resources found under the earth’s surface. Some corporations try to find and process it into useful products for humans. Along with the passage of time and technological developments and industries, since the industrial revolution, the need for oil and gas has been increasing day by day. Many transportation, manufacturers, and most of the global economy sectors were driven by the availability of oil and gas.

 

From time to time, in this world, there are some largest oil and gas corporations. Many of these corporations have huge deposits of oil and gas and production of oil and gas. They can produce many products which people need. Here are the ranks of 20 World’s Biggest Oil and Gas Corporations in 2025. The following is the company’s performance based on the net profit generated in 2025. This data was obtained from the Annual Report of oil and gas corporations in 2025.

 

Table Rank of 20 World’s Biggest Oil and Gas Corporations Based on Net Income in 2025

 

Rank	Name of Oil and Gas Corporations	Total Revenue in 2025	Total Revenue in 2025	Net Income in 2025	Net Income in 2025
		Origin Currency	US Dollar	Origin Currency	US Dollar
1	Saudi Aramco	USD 415 billion	USD 415 billion	USD 93.4 billion	USD 93.4 billion
2	ExxonMobil Holdings Corporation	USD 332 billion	USD 332 billion	USD 28.8 billion	USD 28.8 billion
3	QatarEnergy	QAR 294 billion	USD 79.4 billion	QAR 99.9 billion	USD 27 billion
4	PetroChina Company Limited	RMB 2,864 billion	USD 429 billion	RMB 172 billion	USD 25.8 billion
5	Royal Dutch Shell	USD 273 billion	USD 273 billion	USD 18.1 billion	USD 18.1 billion
6	Petróleo Brasileiro S.A (Petrobras)	USD 89.2 billion	USD 89.2 billion	USD 18.1 billion	USD 18.1 billion
7	TotalEnergies	USD 201 billion	USD 201 billion	USD 13.4 billion	USD 13.4 billion
8	Chevron Corporation	USD 189 billion	USD 189 billion	USD 12.3 billion	USD 12.3 billion
9	Petroliam Nasional Berhad (PETRONAS)	MYR 266 billion	USD 64 billion	MYR 45 billion	USD 10.8 billion
10	ConocoPhillips	USD 61.5 billion	USD 61.5 billion	USD 7.9 billion	USD 7.9 billion
11	Rosneft Oil	RUB 8,236 billion	USD 107 billion	RUB 544 billion	USD 7 billion
12	Marathon Petroleum	USD 135 billion	USD 135 billion	USD 5.8 billion	USD 5.8 billion
13	Equinor ASA	USD 105 billion	USD 105 billion	USD 5 billion	USD 5 billion
14	China Petroleum and Chemical Corporation (Sinopec)	RMB 2,783 billion	USD 417 billion	RMB 31.8 billion	USD 4.7 billion
15	Phillips 66 Company	USD 137 billion	USD 145 billion	USD 4.5 billion	USD 4.5 billion
16	Kuwait Petroleum Corporation	KWD 35.2 billion	USD 113 billion	KWD 1.36 billion	USD 4.4 billion
17	Indian Oil Corporation	INR 7,844 billion	USD 78.4 billion	INR 420 billion	USD 4.2 billion
18	Eni S.p.A.	EUR 83.6 billion	USD 95.3 billion	EUR 2.75 billion	USD 3.1 billion
19	Valero Energy Corporation	USD 123 billion	USD 123 billion	USD 2.24 billion	USD 2.24 billion
20	Eneos Holdings, Inc	JPY 11,765 billion	USD71.7 billion	JPY 258 billion	USD 1.57 billion
21	British Petroleum	USD 192.5 billion	USD 192.5 billion	USD 1.29 billion	USD 1.29 billion
22	Pemex	USD 87 billion	USD 87 billion	(USD -20 billion)	(USD -20 billion)
Source: Annual Report, 2025
Description:
Origin Currency = Currency officially used in the Annual Report of 2025
US Dollar = Converted Currency from Origin Currency to US Dollar Based on Currency Rate
Currency Rate:
1 Renminbi (RMB)= 0.15 US Dollar (USD)
1 Euro = 1.14 US Dollar (USD)
1 Russian Rubles (RUB) = 0.013 US Dollar (USD)
1 Kuwaiti Dinar (KWD) = 3.28 US Dollar (USD)
1 Qatari Riyal (QAR) = 0.27 US Dollar (USD)
1 Malaysian Ringgit (MYR) = 0.24 US Dollar (USD)
1 Japanese Yen (JPY) = 0.0061 US Dollar (USD)
1 Indian Rupee (INR)= 0.010 US Dollar (USD)

 

Besides the revenue and the net income, there is some additional data related to the financial position of the oil and gas corporations, i.e., total assets and total liabilities. This data came from the Balance Sheet, Company Annual Report in 2025. These two indicators show the financial position of the company in running the business.

 

Table Rank of 20 World’s Biggest Oil and Gas Corporations Based on Total Assets in 2025

 

Rank	Name of Oil and Gas Corporations	Total Assets in 2025	Total Assets in 2025	Total Liabilities in 2025	Total Liabilities in 2025
		Origin Currency	US Dollar	Origin Currency	US Dollar
1	Saudi Aramco	USD 680 billion	USD 680 billion	USD 221 billion	USD 221 billion
2	ExxonMobil Holdings Corporation	USD 449 billion	USD 449 billion	USD 182 billion	USD 182 billion
3	Royal Dutch Shell	USD 370 billion	USD 370 billion	USD 195 billion	USD 195 billion
4	PetroChina Company Limited	RMB 2,827 billion	USD 424 billion	RMB 1,028 billion	USD 154 billion
5	Chevron Corporation	USD 324 billion	USD 324 billion	USD 131 billion	USD 131 billion
6	China Petroleum and Chemical Corporation (Sinopec)	RMB 2,155 billion	USD 323 billion	RMB 1,165 billion	USD 175 billion
7	Rosneft Oil	RUB 22,560 billion	USD 293 billion	RUB 12,482 billion	USD 162 billion
8	TotalEnergies	USD 291 billion	USD 291 billion	USD 173 billion	USD 173 billion
9	British Petroleum	USD 278 billion	USD 278 billion	USD 204 billion	USD 204 billion
10	Petróleo Brasileiro S.A (Petrobras)	USD 222 billion	USD 222 billion	USD 146 billion	USD 146 billion
11	Petroliam Nasional Berhad (PETRONAS)	RM 775 billion	USD 186 billion	RM 273 billion	USD 66 billion
12	QatarEnergy	QAR 663 billion	USD 179 billion	QAR 156 billion	USD 42 billion
13	Kuwait Petroleum Corporation	KWD 53.1 billion	USD 171 billion	KWD 22.5 billion	USD 72.5 billion
14	Eni S.p.A.	EUR 137 billion	USD 156 billion	EUR 84.2 billion	USD 96 billion
15	Equinor ASA	USD 131 billion	USD 131 billion	USD 91 billion	USD 91 billion
16	ConocoPhillips	USD122 billion	USD122 billion	USD 57.4 billion	USD 57.4 billion
17	Pemex	USD 122 billion	USD 122 billion	USD 233 billion	USD 233 billion
18	Marathon Petroleum	USD 84 billion	USD 84 billion	USD 60 billion	USD 60 billion
19	Phillips 66 Company	USD 73.6 billion	USD 73.6 billion	USD 43.4 billion	USD 43.4 billion
20	Valero Energy Corporation	USD 58 billion	USD 58 billion	USD 31.4 billion	USD 31.4 billion
21	Eneos Holdings, Inc	JPY 9,094 billion	USD 55.47 billion	JPY 5,336 billion	USD 32.5 billion
22	Indian Oil Corporation	INR 5,289 billion	USD 53 billion	INR 3,034 billion	USD 30 billion
Source: Annual Report, 2025
Description:
Origin Currency = Currency officially used in the Annual Report of 2025
US Dollar = Converted Currency from Origin Currency to US Dollar Based on Currency Rate
Currency Rate:
1 Renminbi (RMB)= 0.15 US Dollar (USD)
1 Euro = 1.14 US Dollar (USD)
1 Russian Rubles (RUB) = 0.013 US Dollar (USD)
1 Kuwaiti Dinar (KWD) = 3.28 US Dollar (USD)
1 Qatari Riyal (QAR) = 0.27 US Dollar (USD)
1 Malaysian Ringgit (MYR) = 0.24 US Dollar (USD)
1 Japanese Yen (JPY) = 0.0061 US Dollar (USD)
1 Indian Rupee (INR)= 0.010 US Dollar (USD)

 

Besides the financial data, operational data about oil and gas corporations were obtained. In this article, we compared the hydrocarbon production in each oil and gas company in 2025 obtained from Annual Report of 2025. Basically, in organic chemistry science, the term “hydrocarbon” is an organic compound consisting purely of chemical elements of hydrogen (H) and carbon (C) which   chemically, hydrocarbons are generally colorless and hydrophobic (repelled from a mass of water). Furthermore, in the fossil fuel/ oil and gas industries, hydrocarbon refers to naturally occurring petroleum, natural gas and coal, or their hydrocarbon derivatives and purified forms including gasoline/ petrol, diesel fuel/ oil, Jet fuel, Liquefied Petroleum Gases (LPG), Kerosene, Lubricants and Paraffin, Petrochemical, feedstock, and others.

 

The 15 World’s Largest Oil and Gas Corporations in 2025 Based on Daily Hydrocarbon Production

 

Rank	Name of Oil and Gas Corporations	Hydrocarbon Production in 2025
		in Million barrels of oil equivalent per day (mmboe/d)
1	Saudi Aramco	12.9
2	PetroChina	5.05
3	Rosneft	5.02
4	Exxon Mobil	4.7
5	Chevron	3.7
6	Petrobras	2.99
7	Royal Dutch Shell	2.8
8	TotalEnergies	2.5
9	Petronas	2.42
10	ConocoPhillips	2.37
11	British Petroleum	2.3
12	Equinor	2.13
13	Eni	1.73
14	Pemex	1.63
15	Sinopec	1.43
Source: Annual Report, 2025

 

In the table above about hydrocarbon production in 2025 obtained from Annual Report of 2025, Saudi Aramco still became the largest oil and gas corporations based on Hydrocarbon production with average daily production of Hydrocarbon reaching 12.9 million barrels of oil equivalent per day (mmboe/d). Furthermore, behind Saudi Aramco, PetroChina has hydrocarbon production around 5.05 million barrels of oil equivalent per day (mmboe/d). In addition, Rosneft, Exxon Mobil, Chevron, Petrobras, and Royal Dutch Shell also has huge production of hydrocarbon with average daily hydrocarbon production reaching 5.02 mmboe/d, 4.7 mmboe/d, 3.7 mmboe/d, 2.9 mmboe/d, and 2.8 mmboe/d, respectively.

In this table above, we just showed the 15 list of Largest Oil and Gas Corporations because we just found the data in the Annual Report of 2025. Specifically, the hydrocarbon daily production data of QatarEnergy, Marathon Petroleum, Kuwait Petroleum Corporation Valero, Phillips 66, Indian Oil Corporation were not found in the annual report of 2025.

 The 15 World's Largest Oil and Gas Corporations Based on Total Assets in 2025 

  

   The 15 World's Largest Oil and Gas Corporations Based on Net Income in 2025

   

The 15 World’s Largest Oil and Gas Corporations in 2025 Based on Daily Hydrocarbon Production

 

 

Brief Description of the World’s Biggest Oil and Gas Corporations in 2025

 

1. Saudi Aramco

The Saudi Arabian Oil Company or commonly known as Saudi Aramco is one of the world’s biggest oil and gas corporations. This Company was founded on 29 May 1933 and has a primary office in Dhahran, Saudi Arabia. This Saudi Aramco has abundant resources of oil gas with total hydrocarbon reserves 247.2 billion barrels of oil equivalent (BOE), specifically with total reserves of crude oil and condensate around 186.5 billion barrels, NGL’s reserve of around 26.2 billion barrels, Natural gas reserves around 211.7 trillion standard cubic feet (TSCF). Furthermore, as of 2025 total employees of Saudi Aramco achieved more than 76,640. Operationally, Saudi Aramco still managed the Ghawar Field (the world's largest onshore oil field) and the Safaniya Field (the world's largest offshore oil field).

In 2019, Aramco becomes a public company with shares listed on Tadawul or Saudi Stock Exchange. Throughout the year of 2025, Saudi Aramco has hydrocarbon production around 12.9 million barrels of oil equivalent per day (mmboed), liquids production around 10.7 million Barrels of Oil Per Day (mmbpd), gas production around 11.4 billion standard cubic feet per day (bscfd). Overall, Saudi Aramco has marketed some diversified products including Crude oil, Gas, NGL, Condensate, Refined products, Chemicals, Electricity, Blue ammonia, and Nonmetallic. In terms of business activities, Aramco completes its historic acquisition of a 70% stake in SABIC or Saudi Basic Industries Corporation in 2020. To date, the majority owner of Saudi Aramco was the Government of Saudi Arabia with a percentage of ownership reaching 90.19%.

Financially, in 2025, Saudi Aramco successfully generated USD 415 billion of total revenue and net income reached USD 93.4 billion. Furthermore, in terms of financial position based on the balance sheet in the annual report of 2025, Saudi Aramco has total assets of around USD 680 billion with total liabilities of around USD 221 billion. Overall, this performance stated that Saudi Aramco is still the world’s biggest of oil and gas corporations based on total revenue, total assets and net income compared to other world’s oil and gas corporations.

 

2. PetroChina

PetroChina Company Limited, or commonly known as PetroChina, is one of the biggest ones. The Company was established as a joint stock company with limited liability under the Company Law of the People’s Republic of China (the “PRC” or “China”) (the “Company Law”) on November 5, 1999, as part of the restructuring of China National Petroleum Corporation (“CNPC”). Operationally, this company has a primary office in Dongzhimen North Street, Dongcheng District, Beijing. Geographically, in China, the exploration sites of oil and gas from PetroChina are located across Daqing, Changqing, Xinjiang, Tarim, and Sichuan.  

Based on business performance, in 2025, PetroChina can produce oil and gas by achieving crude oil of 948 million barrels, natural gas output of 5,363 billion cubic feet, oil and natural gas output of 1,841 million barrels. In addition, as of 2025, PetroChina still has reserves of 6,183 million barrels of crude oil and natural gas around 72,814 billion cubic feet. Based on quantities of its marketed product in 2025, PetroChina successfully sold Crude oil 160 million tons, natural gas 3,147.13 hundred million cubic meters, Gasoline 62.7 million tons, Diesel 73.5 million tons, Kerosene 24.4 million tons, Polyethylene 7.3 million tons, Polypropylene 3.09 million tons, and Lubricant 1.7 million tons.

 

Financially, in 2025, the total revenue of PetroChina reached RMB 2,864 billion or equivalent to USD 429 billion, in addition, the PetroChina earned net Income of RMB 172 billion or equivalent to USD 25.8 billion. In terms of financial position in 2025, total assets of PetroChina reached RMB 2,827 billion or equivalent to USD 424 billion and total liabilities of RMB 1,028 billion or equivalent to USD 154 billion.

 

3. Royal Dutch Shell

Royal Dutch Shell plc is an Anglo-Dutch multinational oil and gas company. This company has two main offices i.e., Haagse Hout, The Hague, ​Netherlands (Headquarters) and Shell Centre, London,​ England, UK (Registered office). Historically, this company was founded in April 1907 by Marcus & Samuel, Jean B.A. Kessler, Henri Deterding, and Hugo Loudon.

Operationally, in 2025, Shell employed 85 thousand people spreading out to more than 70 countries and this company also have more than 47,000 retail stations. Furthermore, throughout 2025, Shell produced Crude oil and natural gas liquids 1,494 thousand Barrels of Oil Equivalent Per Day (boe/d), Synthetic crude oil 41 thousand Barrels of Oil Equivalent Per Day (boe/d), and Natural gas 1,265 thousand Barrels of Oil Equivalent Per Day (boe/d). As of 2025, related to its natural resources’ deposits, from Shell subsidiaries and Shell share of joint ventures and associates, total reserves of proved Crude oil and natural gas liquids reached 2,696 million barrels and total reserves of Natural gas achieved 17,152 thousand million scf. Geographically, the location of oil and gas exploration and production activities are spreading across Europe (Albania, Netherlands, Norway, United Kingdom), Asia (Brunei, Malaysia, Oman), Oceania (Australia), Africa (Egypt, Namibia, Nigeria, São Tomé and Príncipe, and South Africa), North America (Barbados, Canada, Mexico, USA), South America (Argentina, Brazil, Colombia, Suriname, Trinidad and Tobago, Uruguay).

Financially, in 2025, according to its annual report, the total revenue of Royal Dutch Shell reached USD 273 billion, and Shell gained net income around USD 18.1 billion. In terms of financial position, Royal Dutch Shell has total assets of around USD 370 billion and total liabilities of around USD 195 billion.

             

4. ExxonMobil

Exxon Mobil Corporation was founded on November 30, 1999, with a merger between Exxon and Mobil. Presence in 60 countries globally with more 62,000 scientists, engineers, researchers, technicians, professionals and other employees, ExxonMobil still has headquartered in Spring, Texas, U.S. A. Operationally, this company has some exploration areas in some countries with the ExxonMobil exploration activities concentrated in the Permian Basin, Bakken Formation, Woodford Shale, Caney Shale, and the Gulf of Mexico. Meanwhile, some sites of gas exploration are located in Marcellus Shale, Utica Shale, Haynesville Shale, Barnett Shale, and Fayetteville Shale. Overall, as of 2025, total productive development wells drilled owned by Exxon Mobil are 725 units, and most of its wells located in the United States with 698 units.

In 2025, ExxonMobil produced Crude Oil of around 2,262 thousand barrels daily, Liquefied Natural Gas (NGL) 612 thousand barrels daily, and Total natural gas production available for sale 8,442 million cubic feet daily. Meanwhile, as of 2025, total Exxon Mobil’s proved reserves of Crude Oil are about 8,187 million barrels, Natural Gas Liquids’ proved reserves of around 2,437 million barrels, Bitumen’s proved reserves are about 2,330 million barrels, Synthetic Oil’s proved reserves 288 million barrels, Natural Gas’s proved reserves 36,480 billion of cubic feet.

 

Financially, in 2025, according to its annual report, ExxonMobil successfully generated total revenue of USD 332 billion and gained net income around USD 28.8 billion. In terms of financial position, total assets of Shell in 2025 reached USD 449 billion with total liabilities around USD 182 billion.

 

 5. Sinopec

China Petroleum & Chemical Corporation or commonly known as Sinopec is a Chinese oil and gas company established in July 1998. Operationally, Sinopec still has a primary office in Chaoyang, Beijing, China. Related to exploration and production aspects in 2025, Sinopec can produce Oil and gas production 525.28 million barrels of oil equivalent (mmboe), Crude oil production 282 million barrels of oil (mmbbls), Natural gas production 1,456.63 billion Cubic Feet (bcf). Furthermore, total crude oil proved reserves are around 2,074 million barrels of oil (mmbbls) as of December 2025.

 

Financially, in 2025 based on its annual report, according to the annual report, Sinopec is still in good positive performance which successfully gained total revenue around RMB 2,783 billion or equivalent to USD 417 billion with net income around RMB 31.8 billion or equivalent to USD 5.8 billion. In terms of financial position, total assets of Sinopec reached RMB 2,155 billion or equivalent to USD 323 billion with total liabilities of around RMB 1,165 billion or equivalent to USD 175 billion.

 

 6. British Petroleum

 

The British Petroleum Company plc is the next British-based company that became the biggest oil and gas company. This company was founded by William Knox D’Arcy and Charles Greenway in April 1909. As of 2025, operationally, this company has its primary office in London, England with the total employees Reaching 93,700 people spreading out in 61 countries. In terms of business performance, in the year of 2025, British petroleum (BP) produced Liquids 1,199 thousand barrels per day (mb/d), Natural gas 6,450 million cubic feet per day (mmcf/d), and total hydrocarbons 2,312 thousand barrels of oil equivalent per day (mboe/d). Meanwhile, the net proved reserves of British Petroleum reached Liquids 3,477 million barrels (mmb) of Liquids, 15,916 billion cubic feet (bcf) of natural gas, 6,191 million barrels of oil (mmboe) of hydrocarbons.

Geographically, British Petroleum (BP) has oil and gas activities in some regions including the Europe (UK, Norway), North America (deepwater Gulf of America, the Lower 48 states, Canada and Mexico), South America (Argentina, Brazil, Trinidad and Tobago, Argentina and Bolivia), Africa (Angola, Egypt, Libya, Mauritania and Senegal), Asia (Abu Dhabi, Azerbaijan, China, India, Indonesia, Iraq, Kuwait and Oman).
 

Financially, in 2025, based on the annual report, the British Petroleum could generate total revenue of USD 192 billion and gain net income reaching USD 1.29 billion. In terms of financial position, British Petroleum has total assets of around USD 278 billion with total liabilities of around USD 204 billion.

  

7. TotalEnergies

 

TotalEnergies is an oil and gas company from Europe that has become the biggest oil and gas company with total employees of around 101,513 spreading across 170 nations. Operationally, this company has a central office in Tour Total, Courbevoie, France. Historically, this company was founded by Ernest Mercier and Raymond Poincaré. Statistically, based on the business performance, as of 2025, TotalEnergies could produce Oil (including bitumen) achieving 1,151 thousand barrels per day (kb/d) and Gas (including condensates and associated NGL) reaching 1,378 thousand barrels of oil equivalent per day (kboe/d). Geographically, the production sites of Liquids and Natural gas of TotalEnergies located in some regions including Africa (Angola, Gabon, Nigeria, Republic of the Congo),  Americas (Argentina, Bolivia, Brazil, Canada, United States, Venezuela),  Asia-Pacific (Australia, Brunei, China, Indonesia, Kazakhstan, Malaysia, Myanmar, Thailand), Europe (Azerbaïjan, Denmark, Italy, Norway, Netherlands, United Kingdom, Russia), and Middle East and North Africa (Algeria, Egypt, United Arab Emirates, Iraq, Libya, Oman, Qatar, Yemen).

Financially, in 2025, based on TotalEnergies’ published annual report, the total revenue of TotalEnergies reached USD 201 billion and gained net income around USD 13.4 billion. In terms of financial position, TotalEnergies has total assets of around USD 291 billion and total liabilities of around USD 173 billion.

 

8. Chevron

Chevron Corporation is the oldest company in the oil and gas industry. This company was founded on September 10, 1879, and has a primary office in San Ramon, California with total employees around 37,860 people.

Statistically, In the year of 2025, Chevron Corporation has net production of crude oil, condensate and synthetic oil reaching 1,827 thousand barrels per day, net production of natural gas liquids reaching 477 thousand of barrels per day, net production of natural gas of around 8,515 million of cubic feet per day. Meanwhile, based on its resources, Chevron Corporation has net proved reserves of crude oil, condensate and synthetic oil reaching 4,369 million barrels, Net proved reserves of natural gas liquids of 1,348 million barrels, and net proved reserves of natural gas 29,245 billion cubic feet. Geographically, Chevron Corporation has productive oil wells of around 41,859 and most of the productive oil wells located in the United States of America with total wells around 41,859 units. Meanwhile, the productive gas wells located at Chevron corporation reached 41,859 units with most of the gas wells located in the United States with around 2,110.

Financially, in 2025, according to its published annual report, Chevron successfully generated total revenue of USD 189 billion and gained net income around USD 12.3 billion. In terms of financial position, Chevron has total assets of around USD 324 billion with total liabilities around USD 131 billion.

  

9. Eni S.p.A

 

Eni S.p.A is an Italian-based company that has a primary office in Rome, Italy. Historically, this company was founded on 10 February 1953.To date, Eni has become one of the world’s largest Oil and gas corporations in 2025 with has operation in more than 60 countries and employed 9,188 people in 2025.

Operationally, in 2025, Eni has production of hydrocarbons reaching 1,728 thousand barrels of oil equivalent per day (kboe/day). Meanwhile, the net proved reserves of hydrocarbons achieved 6,885 million barrels of oil equivalent (mmboe). In more detail, the hydrocarbons production of Eni concentrated in North Africa with production of around 214 million barrels of oil equivalent (mmboe). Based on the geographical region, Egypt still becomes the main producer with output of hydrocarbons reaching 88 million barrels of oil equivalent (mmboe), followed by Libya with output of 59 million barrels of oil equivalent (mmboe), and Kazakhstan with 59 million barrels of oil equivalent (mmboe). In other resources of Eni, the production of Eni’s natural gas is mostly explored in North Africa with production of 668 billion cubic feet (bcf) and Egypt has huge production of Eni’s natural gas with output around 343 billion cubic feet (bcf), followed by Libya with 206 billion cubic feet (bcf), and Algeria with 116 billion cubic feet (bcf).

Financially, in 2025, Eni S.p.A successfully gained total revenue around EUR 83.6 billion or equivalent to USD 95.3 billion and gained net income of around EUR 2.75 billion or equivalent to USD 3.1 billion. In terms of financial position, Eni S.p.A has total assets of around EUR 137 billion or equivalent to USD 156 billion and total liabilities of around EUR 84.2 billion or equivalent to USD 92 billion.

  

10. Marathon Petroleum

 

Marathon Petroleum was founded on November 9, 2009, and has a primary office in Findlay, Ohio, United States. To date, Marathon petroleum still owns and operates refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States. Statistically, based on the business performance in 2025, the production of Gasoline 1,499 thousand Barrels per Day (mbpd), Distillates 1,093 thousand Barrels per Day (mbpd), NGLs and petrochemicals 195 thousand Barrels per Day (mbpd), Asphalt 79 thousand Barrels per Day (mbpd), Propane 67 thousand Barrels per Day (mbpd), Heavy fuel oil 90 thousand barrels per day (mbpd).

Financially, in 2025, Marathon Petroleum successfully generated total revenue of USD 135 billion but gained net income of USD 5.8 billion. In terms of financial position, Marathon Petroleum has total assets of around USD 84 billion with total liabilities of around USD 60 billion.

 

11.Equinor

 

Equinor is Norwegian oil and gas company, which was founded in 1972. With around 24,600 employees spread in more than 20 countries, Eaunor still has its headquarters in Stavanger, Norway. In their business performance, in oil and gas, Equinor operates around 70% of the total Norwegian oil and gas production. In 2025, Liquids liftings of Equinor reached 1,025 thousand barrels of oil equivalent per day (mboe) per day and Gas liftings of Equinor reached 1,045 thousand barrels of oil equivalent per day (mboe) per day). Specifically, some of the Liquids and gas production areas/ field operated by Equinor and has huge contribution, including Johan Sverdrup with output production reaching 310 thousand barrels of oil equivalent per day (mboe/day), followed by Troll Phase 1 (Gas) with output of 215 thousand barrels of oil equivalent per day (mboe/day), Appalachian (APB) with output of 305 thousand barrels of oil equivalent per day (mboe/day), Oseberg with output of 103 thousand barrels of oil equivalent per day (mboe/day), Block 17 with output of 71 thousand barrels of oil equivalent per day (mboe/day), Aasta Hansteen with output of 61 thousand barrels of oil equivalent per day (mboe/day), Gullfaks with output of 81 thousand barrels of oil equivalent per day (mboe/day), and Visund with output of 57 thousand barrels of oil equivalent per day (mboe/day). 

Financially, in 2025, Equinor gained USD 105 billion in total revenue with Net Income around USD 5 billion. In terms of financial position, Equinor has total assets of around USD 131 billion with total liabilities of around USD 91 billion.

  

12. Phillips 66

 

The Phillips 66 Company, formerly known as ConocoPhillips (2002–2012) was founded by L.E. Phillips and Frank Phillips. This company has a central office in Westchase, Houston, Texas, U.S. As of 2025, Phillips 66 has approximately 70,000 miles of U.S Pipelines, 550,000 barrels per day (bpd) of fractionation capacity, 5.5 billion cubic feet per day (BSFD) of natural gas processing. Furthermore, some of the refineries owned by Phillips 66 are Bayway Refinery, Billings Refinery, Borger Refinery, Ferndale Refinery, Humber Refinery, Lake Charles Manufacturing Complex, Los Angeles Refinery, MiRO Refinery, Ponca City Refinery, Santa Maria Refinery, Sweeny Refinery, Wood River Refinery.

Financially, in 2025, according to its annual report, Phillips 66 successfully gained total revenue of around USD 145 billion, furthermore Phillips 66 gained net income around USD 4.5 billion. In terms of financial position, total assets of Phillips 66 are around USD 73.6 billion with total liabilities of around USD 43.4 billion.

  

13.Valero

Valero was founded on January 1, 1980, and has a central office in San Antonio, Texas, United States. Along with development of the company, Valero has 15 petroleum refineries located in the U.S., Canada, and the U.K. with total capacity 3.2 million barrels per day. In addition, Valero also has 12 ethanol plants located in the states of Indiana, Iowa, Minnesota, and Nebraska. Overall, these ethanol plants have a combined ethanol production capacity of approximately 1.7 billion gallons per year, 4 million tons of DDGs, and 553 million bushels of corn processing capacity. In terms of marketing products, Valero sold its products primarily in the United States (U.S.), Canada, the United Kingdom (U.K.), Ireland, and Latin America.

Financially, in 2025, Valero successfully collected total revenue of USD 123 billion and gained net income of USD 2.24 billion. In terms of financial position, Valero has total assets of around USD 58 billion with total liabilities of around USD 31.4 billion.

    

14. Kuwait Petroleum Corporation

The Kuwait Petroleum Corporation (KPC) was established in October 1980. Based on business structure, Kuwait Petroleum Corporation also has some subsidiary corporations including Kuwait Gulf Oil Company, Kuwait Oil Company, and Kuwait National Petroleum Company. Specifically, Kuwait Petroleum Corporation has oil refining capacity achieving 879 thousand barrels per day (mboe/d) with the refining facility located in Al-Zour, Mina Al-Ahmadi, Mina Abdullah. In addition, through its subsidiary company, namely Kuwait National Petroleum Company (KNPC), Kuwait Petroleum Corporation owns a gas liquefaction plant at Mina Al-Ahmadi Refinery, which includes 5 gas processing and production units with a total production capacity of 3.13 billion standard cubic feet per day of gas and 332 thousand barrels per day of condensates.

Financially, in 2025, Kuwait Petroleum Corporation successfully gained total revenue of KWD 35.2 billion or equivalent to USD 113 billion and gained net income of KWD 1.36 billion or equivalent to USD 4.4 billion. Related to financial position, Kuwait Petroleum has total assets of around KWD 53.1 billion or equivalent to USD 171 billion with total liabilities of around KWD 22.5 billion or equivalent to USD 72.5 billion.

  

15. ConocoPhillips       

 

ConocoPhillips is an Exploration & Production (E&P) company which has a central office in Houston, Texas. Historically, this company was founded on August 30, 2002, with the merger between Conoco Inc. and Phillips Petroleum Company. In the year 2025, ConocoPhillips has more than 9,900 employees spread across more than 14 countries. Furthermore, ConocoPhillips can produce 2,375 thousand barrels of oil equivalent per day (MBOED). On November 22, 2024, ConocoPhillips completed the acquisition of Marathon Oil Corporation (Marathon Oil). Based on its resources, ConocoPhillips has Net Proved Reserves including Total Crude Oil of 3,424 million barrels, total natural gas liquids of 1,225 million barrels, and total natural gas 2,586 million barrels. ConocoPhillips is the largest crude oil producer in Alaska and has major ownership interests in Prudhoe Bay, Kuparuk and Western North Slope asset areas. Specifically, Alaska operations contributed 14 percent of ConocoPhillips's consolidated liquids production and two percent of ConocoPhillips's consolidated natural gas production with average daily net production of around 177 million barrels per day (MBD) of crude oil, 15 barrels per day (MBD) of NGL, 14 barrels per day (MBD) Natural Gas.

Financially, in 2025, according to the published annual report, ConocoPhillips gained positive performance with total revenue of USD 61.5 billion and successfully gained net income of USD 7.9 billion. In terms of financial position, ConocoPhillips has total assets of around USD 122 billion with total liabilities of around USD 57.4 billion.

  

16. Petronas     

  

National Petroleum Limited or commonly known as Petronas is a Malaysian oil and gas company which was founded on August 17th, 1974. Operationally, this company still has a central office in Petronas Towers, Kuala Lumpur, Malaysia. This company also has 5 refineries, 19 petrochemical manufacturing sites, 4 LNG plants, 2 LNG floating facilities, and 5 gas processing complexes. Along with business development, in 2023, Petronas had a total daily production average of 2,432 thousand barrels of oil equivalent (boe) per day. In addition, in 2023, Petronas can sell 36.6 million metric tons of LNG, 10.5 million metric tons of chemical, and 209.4 million barrels of petroleum. 

 

Financially, according to the 2025 annual report, Petronas gained total revenue of MYR 266 billion or equivalent to USD 64 billion with net income around MYR 45 billion or equivalent to USD 10.2 billion. In terms of financial position obtained from the Balance sheet, Petronas has total assets of around MYR 775 billion or equivalent to USD 186 billion with total liabilities of around MYR 273 billion or equivalent to USD 66 billion.

  

17. QatarEnergy            

 

QatarEnergy is a state-owned petroleum company of Qatar. Historically, this company was founded in 1974 and still has a central office in Doha Qatar. Operationally, Qatar Energy manages the world's largest single non-associated gas field, the North Field, spanning over 6,000 km2 and it contains 20% of the world's total gas reserves. In Onshore Oil production, Dukhan is one of the largest onshore oil and gas fields and this field produces crude oil, associated gas, condensate, and non-associated gas. Furthermore, QatarEnergy​ operates three offshore production stations on these fields, PS-1, PS-2 and PS-3 with the average oil production from PS-1, PS-2 and PS-3 is more than 100,000 barrels per day and gas delivery to the downstream of more than 50 million Standard Cubic Feet (mmscf) per day.

In terms of financial aspects, throughout the year of 2025, according to the Annual Report, Qatar Energy gained total revenue of QAR 294 billion or equivalent to USD 79.4 billion. Furthermore, Qatar energy had gained net income around QAR 99.9 billion or equivalent to USD 10.8 billion. Meanwhile, in the financial position, total assets of Qatar Energy reached   QAR 663 billion or equivalent to USD 179 billion with total liabilities of around QAR 156 billion or equivalent to USD 42 billion.

 

18. Petrobras   

 

Petrobras is a Brazilian oil and gas company which was founded on October 3, 1953. This company still has a central office in Rio De Janeiro and has several employees of around 45 thousand. Statistically, Petrobras still become the backbone of oil production to Brazil because this company contributes around 30% of Brazil's national oil and gas production. In 2025, Petrobras managed 1,105 production wells. Basically, some of the Petrobras oil came from Campos Basin, Santos Basin, and other areas in Brazil. Specifically, in 2025, the proved reserves of oil and natural gas of Petrobras reached 12,112 million barrels of Oil (boe). Furthermore, in 2025, Petrobras’ total oil and gas production, including NGL reached 2.99 million barrels of oil per day (mboed). 

Financially, in 2025, according to its published annual report, in terms of business performance, Petrobras successfully gained total revenue of USD 89 billion with net income around USD 18 billion. In terms of financial position, obtained from the Balance sheet of annual report, Petrobras has total assets of around USD 222 billion with total liabilities of around USD 146 billion. 

 

19. Rosneft       

 

PJSC Rosneft Oil Company or commonly known as Rosneft is The Leader of The Russian Oil Industry which operates in all major oil and gas-bearing provinces of Russia, including Western and Eastern Siberia, the Volga region, the Urals, the Far East, Timan-Pechora, Krasnodar Territory, as well as in the offshore regions of the Russian Federation. Based on statistical data, Rosneft contributed 40% share in oil production in Russia, 14% share in gas production in Russia. Specifically, in terms of operational performance of 2025, total hydrocarbon production of Rosneft reached 5.02 million barrels of oil equivalent (mmboe) per day with. Furthermore, total natural gas of Rosneft is around 79.6 billion Cubic Meters (bcm).

Financially, according to the annual report of 2025, Rosneft has total assets of around RUB 22,560 billion or equivalent to USD 293 billion with total liabilities of around RUB 12,482 billion or equivalent to USD 162 billion. Related to financial and business performance in 2025, Rosneft successfully gained total revenue of around RUB 8,236 billion or equivalent to USD 107 billion with net income of around RUB 544 billion or equivalent to USD 7 billion.

 

20. Eneos

Eneos Corporation was Established on May 10, 1888, and still has headquarters in Otemachi, Chiyoda-ku, Tokyo. As of March 31, 2025, total employees of Eneos Corporation reached 7,159 people. Operationally, Eneos has some refineries throughout Japan including Oita Refinery, Sendai Refinery, Kashima Refinery, Negishi Refinery, Mizushima Refinery, Kawasaki Refinery, Marifu Refinery, Chiba Refinery, Sakai Refinery. Overall, total oil and petrochemical production and manufacturing is in 11 areas spreading inside Japan with processing capacity of around 1.64 million barrels per day.

Financially, in 2025, Eneos has total assets of around JPY 9,094 billion or equivalent to USD 55.47 billion with total liabilities of around JPY 5,336 billion or equivalent to USD 32.5 billion. In terms of business performance in 2025, Eneos gained total revenue of around JPY 11,765 billion or equivalent to USD 71.7 billion and net income of around JPY 258 billion or equivalent to USD 1.57 billion.

 

21. Indian Oil Corporation

Indian Oil Corporation Limited (IOCL or IOC) or known as Indian Oil is one of India’s foremost downstream energy players. Historically, Indian Oil was founded on 30 June 1959 and still has headquarters in New Delhi, India. There are some major business activities in the organization including Refining, Pipelines, Research & Development, Marketing, Petrochemicals, Natural Gas, City Gas Distribution (CGD), E&P, Explosives, and Cryogenics. In refining industry, Indian Oil has some refinery facilities including Bongaigaon Refinery, Barauni Refinery, Paradip Refinery, Haldia Refinery, Mathura Refinery, Gujarat Refinery, Panipat Refinery & Petrochemical Complex, Guwahati Refinery, Digboi Refinery.

 

Indian Oil Corporation has total assets of around INR 5,289 billion or equivalent to USD 53 billion with total liabilities of around INR 3,034 billion equivalent to USD 30 billion. In terms of business performance in 2025, Indian Oil Corporation collected total revenue of around INR 7,844 billion or equivalent to USD 78.4 billion with net income of around INR 420 billion or equivalent to USD 4.2 billion.

 

22. Pemex         

Pemex or Petróleos Mexicanos is the Mexican state-owned petroleum corporation founded on June 7, 1938. Operationally, the Crude oil and condensate production of Pemex in 2025 reached 1,367 million barrels per day (Mbd), natural gas production of Pemex 3,879 million Standard Cubic Feet per Day (MMpcd), and Crude Oil Processing of around 1,014 million Barrels per day (Mbd).

Financially, in 2025, Pemex has total assets of around USD 122 billion and total liabilities of around USD 233 billion. In terms of business performance in 2025, Pemex collected total revenue of around USD 87billion but unfortunately, Pemex suffered a net loss of around (USD -20 billion).

 

 

Bibliography of 20 World’s Biggest Oil and Gas Corporations 2025

 

Saudi Aramco. 2026. Annual Report 2025. Accessed via https://www.aramco.com/en/investors/annual-report on July 29th, 2026.

Exxon Mobil. 2026. Annual Report 2025. Accessed via https://investor.exxonmobil.com/sec-filings/annual-reports  on July 29th, 2026.

ConocoPhillips. 2026. Annual Report 2025. Accessed via https://www.conocophillips.com/company-reports-resources/annual-report/ July 29th, 2026.

Royal Dutch Shell. 2026. Annual Report 2025. Accessed via https://www.shell.com/about-us/annual-publications/annual-reports-download-centre.html  on July 29th, 2026.

Qatar Energy. 2026. Annual Report 2025. Accessed via https://www.qatarenergy.qa/en/pages/home.aspx on July 29th, 2026.

Petrobras. 2026. Annual Report 2025. Accessed via https://www.investidorpetrobras.com.br/en/presentations-reports-and-events/annual-reports/ on July 29th, 2026.

Chevron. 2026. Annual Report 2025. Accessed via https://www.chevron.com/-/media/chevron/annual-report/2022/documents/2022-Annual-Report.pdf on July 29th, 2026.

Equinor. 2026. Annual Report 2025. Accessed via https://www.equinor.com/investors/annual-reports  on July 29th, 2026.

Petrochina. 2026. Annual Report 2025. Accessed via http://www.petrochina.com.cn/ptr/ndbg/202304/160574715e654711b0f723a3868f6e22/files/85e626beab274137ac1e8068de282d72.pdf  on July 29th, 2026.

Total. 2026. Annual Report 2025. Accessed via https://totalenergies.com/investors/publications-and-regulated-information/regulated-information/annual-financial-reports  on July 29th, 2026.

Petronas. 2026. Annual Report 2025. Accessed via https://www.petronas.com/media/reports  on July 29th, 2026.

Eni. 2026. Annual Report 2025. Accessed via https://www.eni.com/en-IT/investors/financial-results-and-reports.html  on July 29th, 2026.

Marathon Petroleum. 2026. Annual Report 2025. Accessed via https://www.marathonpetroleum.com/Investors/Annual-Report-Proxy-Statement/ on July 29th, 2026.

Valero. 2026. Annual Report 2025. Accessed via https://investorvalero.com/financials/default.aspx on July 29th, 2026.

Phillips 66. 2026. Annual Report 2025. Accessed via https://investor.phillips66.com/financial-information/  on July 29th, 2026.

Sinopec. 2026. Annual Report 2025. Accessed via http://www.sinopec.com/listco/En/investor_centre/reports/annual_report/ on July 29th, 2026.

Kuwait Petroleum Corporation. 2026. Annual Report 2025. Accessed via https://www.knpc.com/en/media/publications/periodic-publications/annual-report on July 29th, 2026.

British Petroleum. 2026. Annual Report 2025. Accessed via https://www.bp.com/en/global/corporate/investors/results-reporting-and-presentations/annual-report.html  on July 29th, 2026.

Rosneft. 2026. Annual Report 2025. Accessed via https://www.rosneft.com/Investors/Reports_and_presentations/Annual_reports/  on July 29th, 2026.

Eneos. 2025. 2026. Annual Report 2025. Accessed via https://www.hd.eneos.co.jp/english/ir/library/annual/  on July 29th, 2026.

Indian Oil Corporation. 2026. Annual Report 2025. Accessed via https://iocl.com/pages/AnnualReports  on July 29th, 2026.

Pemex. 2026. Annual Report 2025. Accessed via https://www.pemex.com/en/investors/publications/Paginas/annual-report.aspx  on July 29th, 2026.

 

 

 

 

 

 

 

 

 

 

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