Which Oil And Gas Companies Are Making The Most Money Per Barrel In 2024? Ranking Reveals A Difference Of Up To $22 Per BOE

Written by Bruno Teles

Published on 17/04/2025 at 10:29

Descubra quais empresas de petróleo e gás estão ganhando mais dinheiro por barril em 2024. Ranking mostra lucros por BOE e queda da Petrobras para a 7ª posição

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New Analysis Shows That Aramco, ExxonMobil, and TotalEnergies Lead By Far in Profitability Per Barrel, While Petrobras and BP Appear in the Last Positions.

In 2024, profitability per production has become the new benchmark for efficiency in the energy sector. Data from Energy Analytics reveals which oil and gas companies are making the most money per barrel in 2024, with numbers that stand out due to the contrast between industry leaders and laggards.

The Saudi state-owned Aramco tops the list with an impressive US$ 23.5 per barrel of oil equivalent (BOE). Next are ExxonMobil with US$ 21.3 and TotalEnergies with US$ 18.

Billion-Dollar Differences Between Industry Giants

The gap between the top and bottom positions is striking. While BP languishes at the bottom with only US$ 1.4 per BOE, Aramco profits almost 17 times more per barrel.

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The list of the 5 most efficient companies includes:

Aramco: US$ 23.5/boe
ExxonMobil: US$ 21.3/boe
TotalEnergies: US$ 18/boe
Shell: US$ 16/boe
Chevron: US$ 14.6/boe

Petrobras: Drop in Ranking and Efficiency Warning

Among the companies analyzed, Petrobras occupies a delicate position. With US$ 7.7 per BOE, the Brazilian state-owned company has fallen to 7th place in the global ranking of net profit among publicly traded companies.

In absolute terms, Petrobras made US$ 7.2 billion in 2024, a contraction of almost 70% compared to the previous year, according to data from Energy Analytics. This was the worst placement for the company since 2019.

What Explains the Differences in Profitability?

The analysis suggests that, more than scale or reserves, what defines which oil and gas companies are making the most money per barrel in 2024 is operational efficiency and cost discipline.

Aramco and ExxonMobil maintain highly automated operations, very low extraction costs, and advantageous commercial contracts. Meanwhile, companies like BP and Eni face tight margins, heavy overhead, and difficulties adapting to the new energy transition landscape.

Mergers on the Horizon? Strategy May Be Answer to Low Profitability

With companies like BP operating on minimal margins, the market speculates on movements of mergers and acquisitions as a way to quickly boost profit per unit produced.

“If a company is making only US$ 1.4 per BOE, the question is not whether it needs to reinvent itself. It’s when,” summarizes Energy Analytics.

Complete Ranking: Profit Per Barrel of Oil and Gas Giants in 2024

Company	Profit Per BOE (US$)
Aramco	23.5
ExxonMobil	21.3
TotalEnergies	18.0
Shell	16.0
Chevron	14.6
Petronas	14.5
ConocoPhillips	12.7
PetroChina	12.6
Equinor	11.7
KazMunaiGas	9.9
Petrobras	7.7
Eni	4.5
BP	1.4

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Arnaldo

#131281

17/04/2025 11:47

O posicionamento da Petrobrás nesse ranking é injustificável, pois o Brasil tem a posse de uma das maiores reservas de petróleo do mundo.
Como dizia Monteiro Lobato: “O petróleo é nosso.”
Diante disso, fica a pergunta: Não temos autonomia sobre a gestão dos nossos recursos naturais?

Responder

Which Oil And Gas Companies Are Making The Most Money Per Barrel In 2024? Ranking Reveals A Difference Of Up To $22 Per BOE

New Analysis Shows That Aramco, ExxonMobil, and TotalEnergies Lead By Far in Profitability Per Barrel, While Petrobras and BP Appear in the Last Positions.

Billion-Dollar Differences Between Industry Giants

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Petrobras: Drop in Ranking and Efficiency Warning

What Explains the Differences in Profitability?

Mergers on the Horizon? Strategy May Be Answer to Low Profitability

Complete Ranking: Profit Per Barrel of Oil and Gas Giants in 2024

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Which Oil And Gas Companies Are Making The Most Money Per Barrel In 2024? Ranking Reveals A Difference Of Up To $22 Per BOE

New Analysis Shows That Aramco, ExxonMobil, and TotalEnergies Lead By Far in Profitability Per Barrel, While Petrobras and BP Appear in the Last Positions.

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What Explains the Differences in Profitability?

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Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state wants to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

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