2024 Report Shows That Aramco Profited More Than The Combined Earnings Of The Five Largest Oil And Gas Companies, Petrobras Ends With $8 Billion, BP Plummets To $1 Billion

Written by Bruno Teles

Published on 16/04/2025 at 21:53

Updated on 16/04/2025 at 21:54

Lucro da Saudi Aramco em 2024 supera a soma de suas cinco maiores rivais no setor de óleo e gás

Uma pessoa reagiu a isso.

Aramco Reports US$ 106 Billion Profit in 2024, While ExxonMobil, Chevron, Shell, Total, and Petronas Together Total Less Than That. Petrobras Closes the Year with US$ 8 Billion.

The global energy sector underwent significant changes in 2024. According to a report from Energy Analytics, the largest oil and gas companies in the world had financial performances below those of 2023. Still, profits remain in the billions.

The standout is Saudi Aramco, which recorded US$ 106 billion in net profit for the year. The figure is so significant that it surpasses the combined results of the five main competitors: ExxonMobil, Chevron, Shell, TotalEnergies, and Petronas.

Comparison of Profits of the Largest Oil and Gas Companies

Saudi Aramco's Profit in 2024 Exceeds the Sum of Its Five Largest Rivals in the Oil and Gas Sector

The survey shows that, in addition to Aramco, other giants also made substantial profits, although with significantly lower amounts:

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ExxonMobil: US$ 34 billion
Chevron: US$ 18 billion
Shell and TotalEnergies: US$ 16 billion each
Petronas: US$ 13 billion
Gazprom: US$ 11 billion
ConocoPhillips and Equinor: US$ 9 billion
Petrobras: US$ 8 billion

Despite a revenue decline compared to 2023, Petrobras remains among the largest oil and gas companies in the world.

BP Sees Historic Profit Drop in 2024

BP (British Petroleum) had the largest contraction among all major companies. Its profit fell from US$ 16 billion in 2023 to just US$ 1 billion in 2024 — a drop of 93%.

The Italian company Eni and the Kazakh KazMunayGas closed the year with US$ 3 billion and US$ 2 billion, respectively.

The Dominance of State-Owned Companies and the Legacy of the New Seven Sisters

Based on the 2024 data, it is clear that there is a prominence of state-owned energy companies. The list of the most profitable is led by national companies, such as Aramco, Gazprom, Petronas, and Petrobras.

The term “New Seven Sisters”, coined by the Financial Times in 2007, seems more relevant than ever. At that time, the newspaper pointed to seven dominant state-owned enterprises: Aramco (Saudi Arabia), CNPC (China), NIOC (Iran), Gazprom (Russia), Petrobras (Brazil), PDVSA (Venezuela), and Petronas (Malaysia).

Today, half of them are among the leaders in profitability in the sector.

General Decline Trend Compared to 2023

Almost all of the largest companies in oil and gas reported a decline in profits in 2024. Here are the comparative figures:

Aramco: from US$ 121B (2023) to US$ 106B (2024)
ExxonMobil: from US$ 36B to US$ 34B
TotalEnergies: from US$ 21B to US$ 16B
BP: from US$ 16B to US$ 1B

The decline reflects the volatility of oil prices, adjustments in supply chains, and the effects of transitioning energy policies.

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16/04/2025 22:29

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2024 Report Shows That Aramco Profited More Than The Combined Earnings Of The Five Largest Oil And Gas Companies, Petrobras Ends With $8 Billion, BP Plummets To $1 Billion

Aramco Reports US$ 106 Billion Profit in 2024, While ExxonMobil, Chevron, Shell, Total, and Petronas Together Total Less Than That. Petrobras Closes the Year with US$ 8 Billion.

Comparison of Profits of the Largest Oil and Gas Companies

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

BP Sees Historic Profit Drop in 2024

The Dominance of State-Owned Companies and the Legacy of the New Seven Sisters

General Decline Trend Compared to 2023

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2024 Report Shows That Aramco Profited More Than The Combined Earnings Of The Five Largest Oil And Gas Companies, Petrobras Ends With $8 Billion, BP Plummets To $1 Billion

Aramco Reports US$ 106 Billion Profit in 2024, While ExxonMobil, Chevron, Shell, Total, and Petronas Together Total Less Than That. Petrobras Closes the Year with US$ 8 Billion.

Comparison of Profits of the Largest Oil and Gas Companies

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