What Companies are in the Energy Field – Top 10 Energy Giants

You may be wondering what companies are in energy field and their contribution to the world’s energy requirements.

In this article, we have compiled a list of top energy giants controlling the world’s energy business and how much money they are making.

What is the energy sector?

The energy field includes all activities related to producing and selling energy from fuel extraction, manufacturing, refining extracted materials, and distribution.

The energy sector is very complex and highly regulated.

Mainly big energy giants and governments are controlling this sector. 

A quick look at the energy field reveals various possibilities, from oil and gas to wind and solar.

In this post, we’ll look at some companies that have managed to rise to the top of their respective fields.  

Here are some of the major energy companies, you should keep an eye on.

Top companies in the energy field by revenue

Top 10 Energy Companies leading the energy sector

1. Saudi Aramco

Saudi Aramco is one of the largest single private employer in the world, with more than 66,800 employees. It operates globally through several segments, including refining and marketing, oil products, petrochemicals, oilfield services, power generation, chemicals, and real estate. It has interests in the following sectors: petroleum, chemicals, electricity, mining, construction, and real estate.

2. PetroChina

PetroChina has built a very interesting business model. They have found a way to leverage the demand for oil in China. PetroChina is building massive infrastructure projects and is creating jobs for thousands of Chinese workers. So what is the model? There is a lot of oil in China, and the price of oil is rising, so there is an opportunity for a company that knows how to profit from these rising prices. Their strategy is to build the largest network of oil refineries, pipelines, and storage facilities worldwide, using state resources and their own investments. The business plan is impressive and has been praised by many as the best thing since sliced bread.

3. ExxonMobil

ExxonMobil is an American company that engages in the exploration, production, transportation, and storage of crude oil, natural gas, and other petroleum products. It also operates in refining, chemical manufacturing, and marketing of such products. ExxonMobil is the largest non-government company in the energy field and contributes 2% to the entire world’s energy production.

4. Shell

Shell plc is a British multinational oil and gas company headquartered in London, England. Shell is a public limited company with a primary listing on the London Stock Exchange (LSE) and secondary listings on Euronext Amsterdam and the New York Stock Exchange. The primary operations of Shell plc are exploration, production, refining, marketing, trading, and transportation of energy products. The company has approximately 86,000 employees. It operates globally and has offices in almost all major countries.

5. TotalEnergies

TotalEnergies SE, a French multinational energy company, has been around since 1924. It’s one of the seven supermajor oil companies and covers everything related to oil and gas – from finding and producing them to generating power, refining, selling petroleum products, and even trading oil globally. Plus, it’s a big player in the chemicals industry.

TotalEnergies is based in La Défense district, near Paris. It’s also part of the Euro Stoxx 50 stock market index.

In 2023, Forbes ranked TotalEnergies as the 21st largest public company worldwide, highlighting its massive presence in the global business landscape.

TotalEnergies, a global energy company, underwent a name change in 2021 to emphasize its focus on green electricity.

In 2022, it ended operations in Myanmar due to human rights issues and continued operations in Russia. It also entered a major LNG expansion project with QatarEnergy. In 2023, the company conducted a groundbreaking LNG trade in Chinese yuan and signed substantial energy agreements in Iraq and LNG import deals in India. These developments showcase TotalEnergies’ commitment to sustainable energy and its strategic role in the global energy landscape.

6. British Petroleum (BP)

BP p.l.c. is a British multinational oil and gas company headquartered in London. It’s a major player in the energy industry, involved in everything from finding and extracting oil to refining it, distributing and selling it, generating power, and trading.

BP’s roots trace back to 1909 when it was known as the Anglo-Persian Oil Company, focusing on oil exploration in Iran. It went through several name changes and expanded globally, becoming British Petroleum in 1954. In 1959, it expanded to Alaska.

In 1978, BP gained control of Standard Oil of Ohio and later became privately owned as the British government sold its shares between 1979 and 1987. In 1998, BP merged with Amoco, forming BP Amoco plc. They continued to grow by acquiring companies like ARCO and Burmah Castrol in 2000 and Aral AG in 2002.

As of 2018, BP operated in nearly 80 countries, producing millions of barrels of oil equivalent daily and having significant oil reserves. They run around 18,700 service stations worldwide under various brand names.

BP is one of the world’s largest oil companies, ranking fourth in revenue in 2021, following ExxonMobil, Shell, and TotalEnergies. In 2022, it had a market capitalization of approximately $98.36 billion and ranked 35th in the Fortune Global 500 with revenues of $164.2 billion.

BP has faced environmental challenges and safety incidents over the years, including the infamous 2010 Deepwater Horizon oil spill, which was one of the largest accidental oil releases in history and led to significant consequences and financial penalties.

7. Chevron Corporation

Chevron Corporation is a prominent energy company primarily engaged in the oil and gas sector. It ranks as one of the top players in the industry and has a noteworthy history. Originally known as the Standard Oil Company of California, it is now headquartered in San Ramon, California, and operates in more than 180 countries.

Chevron is one of the biggest companies globally and the second-largest oil company in the United States when it comes to making money. It’s only outranked by another giant, ExxonMobil, which, interestingly, also has roots in the famous Standard Oil.

In 2023, Chevron claimed the 10th spot on the Fortune 500 list. It’s the only oil and gas company left in the Dow Jones Industrial Average. That’s a prestigious list of 30 major companies that are considered important indicators of how the stock market is doing. ExxonMobil used to be on that list but left in 2020. Chevron, however, is still standing strong in the Dow Jones club.

Chevron, the big energy company, is not just about oil and gas. They’re also diving into alternative energy sources to be more environmentally friendly.

Chevron claims to be the world’s largest geothermal energy producer. In simple terms, they use the Earth’s heat to make electricity. They used to do this a lot in Southeast Asia, but they sold those operations in 2017.

In the past, Chevron had geothermal projects in Indonesia and the Philippines. These projects generated electricity for places like Jakarta and some provinces in the Philippines.

In 2021, Chevron started projects with using biofuels, like biomethane, from dairy farms. This means they’re using natural stuff like cow waste to make cleaner fuels.

Chevron has been working with the U.S. Department of Energy to make fuel from algae. Exactly, the green stuff in ponds. They also collaborated with Weyerhaeuser to turn plant waste into biofuels. However, some of these plans had to shrink in 2013 because they wanted to allocate money for other projects, especially ones using fossil fuels.

8. Equinor ASA

Equinor ASA belongs to Norway. This state-owned company is currently active in 36 countries. The main business revolves around petroleum-related products. Forbes ranked Equinor ASA 169th largest public company in 2020. The company has employed more than 20,000 employees worldwide.

9. ConocoPhillips

ConocoPhillips Company is a relatively small energy company based in Texas, United States. The company is engaged in the exploration and production of hydrocarbon.

The global footprint is limited to 15 countries. In Fortune 500 companies list, ConocoPhillips stands at 156th position.

10. NextEra Energy

NextEra Energy, Inc. is another American energy company with total revenue of $17 billion reported in 2021. The company employs 14,900 employees in different regions of the US and Canada. NextEra Energy operates with its subsidiaries Florida Power & Light (FPL), Gulf Power Company, NextEra Energy Resources (NEER), NextEra Energy Partners, and NextEra Energy Services. The company is standing at 167th position in Fortune 500 companies list.

Some interesting facts

Who is the biggest energy company in the world?

In terms of revenue and production capacity of 10.8 million barrels per day (b/d), Saudi Aramco is the biggest energy company in the world. 

Who is leading in renewable energy?

China is leading the renewable energy sector by producing 1,020 gigawatts in 2021.

Which country is only using renewable energy?

Iceland, with a population of 329,100, only relies on renewable energy sources.