Oil currently represents only a third of the world's energy. In this article we will understand why pay attention to oil and observe the classification of the main oil producing companies.
Oil and gas play an extremely important role in the economies of many countries around the world, which has led to the development and growth of oil companies and gas and greater influence. Going forward, we will classify the main oil producing companies in 2021. But before that, we need to understand the importance of oil today to move on to other steps, such as why pay attention to oil and then get to know the companies.
How important is oil today?
Oil currently represents only a third of the world's energy. and the companies oil companies invested a lot of money in exploration and offshore projects to ensure they can continue to help meet global energy demand. Approximately 6.000 products and merchandise are also made from the oil, ranging from household products to the pharmaceutical and automotive industries. This commercial use means that the demand for oil has surpassed the energy sector and makes oil companies play an important role in society as a whole.
This surge in the energy and manufacturing sectors brings a significant impact, which makes oil an important commodity for years.
Why pay attention to oil?
Diversification in dollar products, the super cycle of commodities and the Chinese five-year plan are other determining factors for oil assets to take advantage of the scenario. And during the US presidential elections in 2020, Biden paid attention to greater regulation of the export of WTI oil, aiming to contain the advances of global warming.
With Biden's election, even if it takes a few years for these measures to materialize, the threat of the impact of exports inevitably generates pressure on the futures market.
Largest oil companies by production
The data released are from Brand Finance published in 2021, which bet on who are the 25th most oil companies of the world. Unfortunately, the Petrobras does not appear in ranking.
1 – Shell Oil Company
First on the list is Shell Oil Company, better known as Shell. She is a Dutch company.
The world's largest oil producer had a net profit of US$42,156 million in the first quarter of 2021. However, compared to last year, it fell by more than US$5 million, when the net profit recorded was US$47,529 million.
2 – Saudi Arabian Oil Company
Second is the Saudi Arabian Oil Company, known as Saudi Aramco. It was the world leader in oil production, reaching more than 10 million barrels of oil per day. But last year it ended up losing half of its profit and ending up in 2021 with just 37,479 million dollars in the first quarter.
Saudi Arabian has the second largest crude oil reserves in the world and accounts for around 10% of the world's crude oil supply.
3 – PetroChina
In third place is PetroChina, the largest oil companies from China ranking third in the world with net profit of US$31,415 million in the first quarter of the year. And just like Saudi Arabian, PetroChina also lost profits from 2020 to 2021. Last year its net worth was 38,028 million dollars.
4 – Sinopec
In fourth place, also from China was the Sinopec group with the net worth of 26,398 million dollars and also losing its profit compared to last year. Sinopec has already ranked first in the ranking of the company more oil companys in the world in the year 2018.
5 – BP
In fifth place is the British company BP with profit in the first quarter of 2021 of 21,367 million reais, also losing profit compared to last year.
6 - Total
In sixth place, the Italian company Total is behind with its profit of 18,122 million dollars. To know the other biggest companies oil companies in the ranking.
Petrobras
A Petrobras is currently ranked 31st in the world
