Top 10: Oil and Gas Companies
Oil and gas have long been foundational to the global energy system.
Despite the global energy transition, as the leading energy sources worldwide these fuels will remain important for many years.
With high energy density, ease of transport and established infrastructure, oil and gas are highly reliable and desirable compared to alternative energy sources.
The industry remains a major economic engine with millions of jobs and trillions in tax revenue.
Energy Digital has ranked 10 of the top oil and gas companies by market cap.
10. Enbridge
CEO: Gregory Ebel
Headquarters: Calgary, Canada
Market cap: US$100.12bn
Founded: 1949
Headquartered in Alberta, Enbridge owns and operates pipelines throughout Canada and the US transporting oil and natural gas alongside generating renewable energy.
It has the longest pipeline system in North America and the largest oil export pipeline in the world.
Enbridge says it is supporting low carbon energy technologies alongside fossil fuels including clean hydrogen, renewable natural gas and carbon capture and storage.
"How well we perform as a safe operator of essential energy infrastructure, a steward of the environment and a responsible corporate citizen continues to be core to our mission to be North America's first-choice energy delivery company," said Pete Sheffield, Enbridge's Chief Sustainability Officer.
9. TAQA
CEO: Jasim Husain Thabet
Headquarters: Abu Dhabi, UAE
Market cap: US$100.72bn
Founded: 2005
The Abu Dhabi National Energy Company (TAQA) is a government-owned energy holding company of Abu Dhabi.
Alongside investment in the production and storage of oil and gas, it focuses on power generation, water desalination and mining.
On the announcement of its Q1 2025 results, Jasim Husain Thabet, Group CEO and Managing Director of TAQA, said: “Our first-quarter performance demonstrates the resilience of our core utilities business and shows that we are continuing to make progress in the successful delivery of our growth strategy.
“TAQA delivered solid revenue growth and has laid strong foundations for the remainder of 2025.”
8. ConocoPhillips
CEO: Ryan Lance
Headquarters: Texas, US
Market cap: US$115.11bn
Founded: 1875
Houston headquartered ConocoPhillips is one of the largest independent exploration and production companies.
It has operations across 15 countries including the US, Norway, Canada and Australia.
In 2024, the company had a production output of 12,160,000 GJ a day and nearly 12,000 employees.
On the announcement of its Q1 2025 results, Ryan Lance, Chairman and CEO at ConocoPhillips, said: “Amid a volatile macro environment, we remain confident in the competitive advantages provided by our differentiated portfolio, strong balance sheet and disciplined capital allocation framework that prioritises returns on and of capital to shareholders.”
7. CNOOC
CEO: Li Fanrong
Headquarters: Beijing, China
Market cap: US$116.16bn
Founded: 1982
China National Offshore Oil Corporation (CNOOC) is a state owned oil company headquartered in Beijing.
It is the largest producer of offshore crude oil and natural gas in China and one of the largest in the world.
Primarily, CNOOC engages in the exploration, development, production and sale of these fuels.
In a statement reflecting on 2024, CNOOC’s Chairman Wang Dongjin said: “In face of the macroeconomic uncertainties, CNOOC Limited stood united and made great efforts to increase reserves and production, focused on enhancing quality and efficiency while effectively mitigating risks and challenges.”
6. TotalEnergies
CEO: Patrick Pouyanné
Headquarters: Paris, France
Market cap: US$139.65bn
Founded: 1924
TotalEnergies says that its integrated multi-energy strategy is built on oil and gas.
It plans to reduce the emissions of its operations while increasing its oil and gas production by 3% per year until 2030.
Alongside this, it is constructing a portfolio of renewable and flexible energy assets including storage, solar and wind power.
In June 2025, it acquired a pipeline of eight solar projects in the UK with a capacity of 350 MW alongside battery storage projects with 85 MW of capacity.
5. Shell
CEO: Wael Sawan
Headquarters: London, England
Market cap: US$207.94bn
Founded: 1907
Shell is active in every area of the oil and gas industry, from exploration and production to distribution and marketing.
It employs 96,000 people across more than 70 countries and says that it aims to become “one of the most diverse and inclusive organisations in the world”.
In May 2025, It announced an agreement to increase interest in Nigeria’s deep-water Bonga field.
“Following our final investment decision on Bonga North last year, this acquisition brings another significant investment in Nigeria deep-water that contributes to sustained liquids production and growth in our Upstream portfolio,” said Peter Costello, President, Upstream at Shell.
4. PetroChina
CEO: Wang Dongjin
Headquarters: Beijing, China
Market cap: US$212.86bn
Founded: 1999
PetroChina is the largest oil and gas producer in Asia with more than 500,000 employees.
It is the listed arm of state-owned China National Petroleum Corporation (CNPC).
In 2024, the company reported “significant progress” in boosting oil and gas reserves production with a sustained increase in oil and gas output.
PetroChina said: “Looking ahead to 2025, the Company will uphold the general principle of pursuing progress while ensuring stability, and adhere to the five development strategies of Innovation, Resources, Market, Internationalisation and Green & Low-carbon development.”
3. Chevron
CEO: Mike Wirth
Headquarters: Texas, US
Market cap: US$250.39bn
Founded: 1879
Chevron is active in more than 180 countries and says its purpose is to provide “affordable, reliable and ever-cleaner energy”.
Its foundations stem from an oil discovery in California in 1876 and it took on the name Chevron in 1984.
It introduced Chevron New Energies in 2021 to help its customers meet lower carbon goals and reduce the carbon intensity of its own operations.
In 2024 it increased its US production by nearly 20% alongside investing in local energy projects and jobs in all 50 states.
“Our strong performance in 2024 and through the first quarter reflects strong project execution and cost and capital discipline,” said Mike Wirth, Chevron’s Chairman and CEO.
“We appreciate the confidence our stockholders have shown in our governance and performance and look forward to continuing to deliver industry-leading value.”
2. ExxonMobil
CEO: Darren Woods
Headquarters: Texas, US
Market cap: US$462.12bn
Founded: 1882
ExxonMobil was founded as the largest direct successor of Standard Oil and was formed in its current state in 1999 through the merger of Exxon and Mobil.
Its operations cover the entire oil and gas industry alongside its chemicals division.
It is the largest investor-owned oil company in the world and owns a large number of brands including Exxon, Mobil, Esso and XTO.
Upstream makes up the largest portion of ExxonMobil’s revenue, and its other business divisions include Low Carbon Solutions, Chemicals and Downstream.
The company has proposed projects in Baytown, Texas, US to produce both low carbon hydrogen and ammonia and reduce greenhouse gas emissions from its operations.
“Reducing our emissions at Baytown would benefit our customers by lowering the carbon footprint of the products we make there, including the modern polymers found in everything from medical equipment to cell phones and electric cars,” said Darren Woods, CEO at ExxonMobil, on its low carbon hydrogen announcement.
“We also plan to make this low-carbon hydrogen available to other Houston-area industrial facilities, to help them reduce their emissions.”
1. Saudi Aramco
CEO: Amin Nasser
Headquarters: Dhahran, Saudi Arabia
Market cap: US$1.67tn
Founded: 1933
Officially the Saudi Arabian Oil Company, Saudi Aramco is a majority state owned company with the largest daily production of all oil-producing companies.
It operates the Master Gas System, the world’s largest single hydrocarbon network.
With a workforce of more than 75,000, its operations span the world and include exploration, production, refining, chemicals, distribution and marketing.
Originally, Aramco came about through a concession agreement signed between Saudi Arabia and the Standard Oil Company of California which resulted in the creation of the California Arabian Standard Oil Company.
Its commercial oil production began in 1938 and reached 500,000 barrels per day in 1949.
In 1973, the Saudi government purchased a 25% interest in the company which was increased to 60% in 1974. This was increased to 100% in 1980.
On the announcement of its 2025 Q1 results, Aramco President and CEO Amin H. Nasser said: “With all forms of energy key to meeting energy demand we continue to advance our growth strategy across Upstream, Downstream and New Energies, while working to reduce emissions.
“Our ambition is reflected in milestones already announced in 2025, including progress towards our gas production growth target, our global retail expansion, the advancement of our petrochemicals strategy, headway in blue hydrogen business development and further innovation in carbon capture.”
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