Top 10 oil and gas companies in the world
10: LukOil (Russia)
- Revenue: $90.4 billion
- Market Value: $36.8 billion
Founded in November 1991, LukOil is headquartered in Moscow, Russia and employs over 110,000 people from all over the world. It specialises in the exploration, production, refining, marketing, and distribution of oil. The business is divided into four core sections: Exploration and Production; Refining, Marketing and Distribution; Petrochemicals and Power Generation.
The company has over $69 billion in assets and has spent more than $1.4 billion on exploration.
LukOil has also spent over $1.5 billion on environmental security, focussing on utilising its APG (associated petroleum gas), reducing pollution levels in the atmosphere, decreasing contaminated lands and waste water discharge.
9: Reliance Industries (India)
- Revenue: $42.2 billion
- Market Value: $50.6 billion
Reliance Industries is an Indian company founded by Dhirubhai Hirachand Ambani in 1966. The company is headquartered in Mumbai, has over $91.54 billion dollars in assets and employs more than 23,853 people.
It specialises in the exploration and production of oil and gas, petroleum refining and marketing textiles, retail and special economic zones. The company is also involved in the marketing of petrochemicals, polyester, plastics and chemicals.
The company has won a large number of awards such as (most recently) the ‘Sustainable Plus Platinum Award’ awarded in 2016 by the Confederation of Indian Industries.
Reliance Industries is also very popular on social media with over 2.3 million likes on Facebook and 31,200 Twitter followers.
8. Rosneft (Russia)
- Revenue: $80.8 billion
- Market Value: $51.1 billion
Rosneft is a Russian oil and gas operations company, founded in 1993 and headquartered in Moscow. It is not just one of the largest oil and gas companies in Russia, but also one of the largest public oil and gas companies on earth with over $139 billion in assets.
The company employs over 48,000 people and its largest shareholder is ROSNEFTEGAZ OJSC which owns 69.50 percent of the equity.
7. Gazprom (Russia)
- Revenue: $102.1 billion
- Market Value: $57.1 billion
Gazprom employs more than 449,000 people and has assets worth $250.24 billion. The company, which was founded in 1989, is headquartered in Moscow.
The company is involved with the geological exploration, production, transportation, storage, processing and marketing of gas and other hydrocarbons and it has the world's richest reserves of natural gas.
Gazprom has a gas transmission system which is more than 171,000 kilometres long. This makes it the largest gas transmission system on the globe.
6. Royal Dutch Shell (Netherlands)
- Revenue: $264.9 billion
- Market Value: $210 billion
Royal Dutch Shell was founded in February 1907 and is headquartered in The Hague, Netherlands.
The company’s assets are worth over $340 billion and it operates in more than 70 countries. The bussinessess CEO is Ben van Beurden.
The company has employees in excess of 93,000 people on average and it produces the equivalent of three million barrels of oil every day.
Employees that work at Shell work on some of the most innovative energy projects on the globe such as the world’s deepest offshore oil and gas field and the largest floating liquefied natural gas production facility.
The company invested over $1.1 billion in investment in research and development in 2015.
5. Sinopec (China)
- Revenue: $283.6 billion
- Market Value: $89.9 billion
Sinopec was founded in December 2000, is headquartered in Beijing, China and currently employs over 78,000 people.
The company manufactures chemicals and petrochemical products. The business runs by working through five sections, these are: Polyester Chips, Bottle-Grade Polyester Chips, Staple Fibre and Hollow Fibre, Filament and Purified Terephthalic Acid.
4. Total (France)
- Revenue: $143.4 billion
- Market Value: $121.9 billion
Total was founded in March 1924 and is headquartered in Courbevoie, France. The company’s CEO is Patrick Pouyanné.
Total is known for its exploration, development, production and marketing of oil and gas. As of May 2016, the company has had more than $143.36 billion in sales and it employs over 96,000 people.
The business is split into three sections in which it operates, these are: Upstream, Refining & Chemicals, Marketing & Services.
The company has assets worth over $224.48 billion.
3. Chevron (United States)
- Revenue: $129.9 billion
- Market Value: $192.3 billion
Chevron was founded in 1906. It is an energy company which offers administrative, financial, management and tech support to the United States and other international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining operations, power generation and energy services.
The company has over $266.1 billion in assets, $129.87 billion in sales and is headquartered in San Ramon, California. The company employs over 61,000 people.
“Our success is driven by our people and their commitment to getting results the right way – by operating responsibly, executing with excellence, applying innovative technologies and capturing new opportunities for profitable growth.”
2. Petro China (China)
- Revenue: $274.6 billion
- Market Value: $203.8 billion
Petro China is involved in the exploration, development, production and sale of crude oil and natural gas. The business is also involved in the refining of crude oil and petroleum products, production and marketing of primary petrochemical products, derivative chemical products and other chemical products.
The company was founded on the 5th of November, 1999 and is headquartered in Beijing, China. It employs over 851,000 people and has more than $368.69 billion in assets. Petro China’s Chief Executive Officer is Wang Dongjin.
1. Exxon Mobil (United States)
- Revenue: $236.8 billion
- Market Value: $ 363.3 billion
Exxon Mobil was founded by John D. Rockefeller in 1882 (making it the oldest company on our list) and is headquartered in Irving, Texas.
Exxon Mobil Corp is involved in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through three main sections, these are: Upstream, Downstream, and Chemical.
The company employs over 75,000 people and (in 2015) had sales of over $236.81 billion and profits of over $16.15 billion. Exxon Mobil currently has assets worth $336.76 billion.
“Over the last 125 years, ExxonMobil has evolved from a regional marketer of kerosene in the United States to the largest publicly traded petroleum and petrochemical enterprise in the world. Today we operate in most of the world's countries and are best known by our familiar brand names: Exxon, Esso and Mobil. We make the products that drive modern transportation, power cities, lubricate industry and provide petrochemical building blocks that lead to thousands of consumer goods.”
Read the March 2017 edition of Energy Digital magazine
Why Transmission & Distribution Utilities Need Digital Twins
As with any new technology, Digital twins can create as many questions as answers. There can be a natural resistance, especially among senior utility executives who are used to the old ways and need a compelling case to invest in new ones.
So is digital twin just a fancy name for modelling? And why do many senior leaders and engineers at power transmission & distribution (T&D) companies have a gnawing feeling they should have one? Ultimately it comes down to one key question: is this a trend worth our time and money?
The short answer is yes, if approached intelligently and accounting for utilities’ specific needs. This is no case of runaway hype or an overwrought name for an underwhelming development – digital twin technology can be genuinely transformational if done right. So here are six reasons why in five years no T&D utility will want to be without a digital twin.
1. Smarter Asset Planning
A digital twin is a real-time digital counterpart of a utility’s real-world grid. A proper digital twin – and not just a static 3D model of some adjacent assets – represents the grid in as much detail as possible, is updated in real-time and can be used to model ‘what if’ scenarios to gauge the effects in real life. It is the repository in which to collect and index all network data, from images, to 3D pointclouds, to past reports and analyses.
With that in mind, an obvious use-case for a digital twin is planning upgrades and expansions. For example, if a developer wants to connect a major solar generation asset, what effect might that have on the grid assets, and will they need upgrading or reinforcement? A seasoned engineer can offer an educated prediction if they are familiar with the local assets, their age and their condition – but with a digital twin they can simply model the scenario on the digital twin and find out.
The decision is more likely to be the right one, the utility is less likely to be blindsided by unforeseen complications, and less time and money need be spent visiting the site and validating information.
As the energy transition accelerates, both transmission and distribution (T&D) utilities will receive more connection requests for anything from solar parks to electric vehicle charging infrastructure, to heat pumps and batteries – and all this on top of normal grid upgrade programs. A well-constructed digital twin may come to be an essential tool to keep up with the pace of change.
2. Improved Inspection and Maintenance
Utilities spend enormous amounts of time and money on asset inspection and maintenance – they have to in order to meet their operational and safety responsibilities. In order to make the task more manageable, most utilities try to prioritise the most critical or fragile parts of the network for inspection, based on past inspection data and engineers’ experience. Many are investigating how to better collect, store and analyze data in order to hone this process, with the ultimate goal of predicting where inspections and maintenance are going to be needed before problems arise.
The digital twin is the platform that contextualises this information. Data is tagged to assets in the model, analytics and AI algorithms are applied and suggested interventions are automatically flagged to the human user, who can understand what and where the problem is thanks to the twin. As new data is collected over time, the process only becomes more effective.
3. More Efficient Vegetation Management
Utilities – especially transmission utilities in areas of high wildfire-risk – are in a constant struggle with nature to keep vegetation in-check that surrounds power lines and other assets. Failure risks outages, damage to assets and even a fire threat. A comprehensive digital twin won’t just incorporate the grid assets – a network of powerlines and pylons isolated on an otherwise blank screen – but the immediate surroundings too. This means local houses, roads, waterways and trees.
If the twin is enriched with vegetation data on factors such as the species, growth rate and health of a tree, then the utility can use it to assess the risk from any given twig or branch neighbouring one of its assets, and prioritise and dispatch vegetation management crews accordingly.
And with expansion planning, inspection and maintenance, the value here is less labor-intensive and more cost-effective decision making and planning – essential in an industry of tight margins and constrained resources. What’s more, the value only rises over time as feedback allows the utility to finesse the program.
4. Automated powerline inspection
Remember though, that to be maximally useful, a digital twin must be kept up to date. A larger utility might blanche at the resources required to not just to map and inspect the network once in order to build the twin, but update that twin at regular intervals.
However, digital twins are also an enabling technology for another technological step-change – automated powerline inspection.
Imagine a fleet of sensor-equipped drones empowered to fly the lines almost constantly, returning (automatically) only to recharge their batteries. Not only would such a set-up be far cheaper to operate than a comparable fleet of human inspectors, it could provide far more detail at far more regular intervals, facilitating all the above benefits of better planning, inspection, maintenance and vegetation management. Human inspectors could be reserved for non-routine interventions that really require their hard-earned expertise.
In this scenario, the digital twin provides he ‘map’ by which the drone can plan a route and navigate itself, in conjunction with its sensors.
5. Improved Emergency Modelling and Faster Response
If the worst happens and emergency strikes, such as a wildfire or natural disaster, digital twins can again prove invaluable. The intricate, detailed understanding of the grid, assets and its surroundings that a digital twin gives is an element of order in a chaotic situation, and can guide the utility and emergency services alike in mounting an informed response.
And once again, the digital twin’s facility for ‘what-if’ scenario testing is especially useful for emergency preparedness. If a hurricane strikes at point X, what will be the effect on assets at point Y? If a downed pylon sparks a fire at point A, what residences are nearby and what does an evacuation plan look like?
6. Easier accommodation of external stakeholders
Finally, a digital twin can make lighter work of engaging with external stakeholders. The world doesn’t stand still, and a once blissfully-isolated powerline may suddenly find itself adjacent to a building site for a new building or road.
As well as planning for connection (see point 1), a digital twin takes the pain out of those processes that require interfacing with external stakeholders, such as maintenance contractors, arborists, trimming crews or local government agencies – the digital twin breaks down the silos between these groups and allows them to work from a single version of the truth – in future it could even be used as part of the bid process for contractors.
These six reasons for why digital twins will be indispensable to power T&D utilities are only the tip of the iceberg; the possibilities are endless given the constant advancement of data collection an analysis technology. No doubt these will invite even more questions – and we relish the challenge of answering them.