Some Of These Oil Companies Have Strong Operations In Brazil, A Great Opportunity To Outline Strategies And Career Plans
The Royal Dutch Shell ranked first among oil and gas companies on Forbes’ Global 2000 list of the largest and most powerful publicly traded companies, surpassing last year’s leader, Exxon Mobil Corp. The Anglo-Dutch oil and gas giant ranked 11th among all companies on the list, compared to 20th the previous year, mainly due to higher sales of its commodities. Exxon, based in Irving, Texas, came in 13th, the same as last year.
Top 10 Oil Companies Ranking
- Royal Dutch Shell
- Exxon Mobil Corp
- Chevron Corp
- Total SA
- Sinopec
- PetroChina Co
- BP PLC
- Gazprom
- Rosneft
- Reliance Industries
Chevron Corp – based in San Ramon, California, was the third-largest oil and gas company on the list, ranking 21st compared to 359th the previous year, which ended with a $431 million loss due to lower commodity prices, among other things.
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Total SA – from France, was the fourth company on the oil and gas list, followed by China Petroleum & Chemical Corp., known as Sinopec, and PetroChina Co. Ltd.
BP PLC, Gazprom, and Rosneft from Russia, along with Indian Reliance Industries Ltd, completed the top 10.
The Forbes Global 2000 is determined by a composite score of equally weighted measures of revenue, profits, assets, and market value.
Forecasts, Prices, And Market Fluctuations
The financial results of oil and gas companies improved significantly last year due to rising oil prices, with West Texas Intermediate reaching $51 per barrel in 2017, $7 per barrel higher than the previous year, according to the U.S. Energy Information Administration.
WTI oil prices exceeded $72 per barrel early this year before falling to about $65 after ministers from Russia and Saudi Arabia indicated they might increase production later this year in response to President Donald Trump’s criticism over rising prices.
Although oil prices have fallen from their highs this year, Andy Lipow of Lipow Oil Associates said he expects oil prices to bounce back to $80, from the recent $75 as Venezuelan production declines and the impact of Iranian sanctions on supply becomes clearer. Saudi Arabia prefers higher prices ahead of the Aramco IPO.
The top 25 oil and gas companies on the Forbes Global 2000 generated $144.6 billion in revenues from $2.9 trillion in sales during the 12-month period of the list, well above the $73 billion in sales from $2.2 trillion the previous year.
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