2020 ranking of the world's 50 largest oil companies announced!

China National Petroleum Corporation ranked third, the same as last year.
This is also the seventh consecutive year that PetroChina has remained the third largest oil company in the world! The comprehensive ranking of Sinopec remained unchanged from 2019, ranking 19th; the comprehensive ranking of CNOOC rose 1 place to 30th
.

Compared with 2019, the top 10 oil companies this year have not changed, and the top 5 companies are still Saudi Aramco, National Iranian Oil Company, PetroChina, Exxon Mobil and BP; the bottom 5 companies are ranked , Shell, Gazprom and Total ranked 7th and tied for 9th, except for Venezuela's National Petroleum Corporation, which dropped from 6th to 8th and Rosneft from 7th to 6th.

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Oil companies face unprecedented challenges in 2020
.
Investors no longer favor oil companies, Exxon Mobil was ousted from the Dow Jones Industrial Average for the first time in more than 90 years, and oil and gas companies account for only 3% of the S&P 500 index, which not only reflects Exxon Mobil's own position Dilemma, and it reflects that the traditional oil and gas industry is in a critical period of transformation and development
.

The changes in the NOC ranking were mixed, with Saudi Aramco completing an initial public offering (IPO) in 2019 and continuing to grow its downstream business to secure the top spot
.
Venezuela's national oil company was dragged down by the country's economy, and its oil production fell significantly, and its ranking fell to a record low
.

The IOCs held steady in the rankings, benefiting from organic growth in U.
S.
operations and continued growth in global gas projects (Egypt, Oman, Azerbaijan, Russia and Australia) in 2019
.
The stability of the rankings will not be sustained given the dual shocks of the 2020 COVID-19 pandemic and drastic changes in the oil market.
The dual shocks of the COVID-19 pandemic and the 2020 oil market crash have caused unprecedented contemplation among global oil companies
.
At present, the major oil companies are undergoing strategic adjustments, and the ranking of the major international oil companies will undergo major changes in the future
.

Top three oil companies in the world

The ultimate ranking list, the most comprehensive reflection of the size of each oil company
.
Who are the top three oil companies in the world in 2020? Let's take a look next time!

No.
1 Saudi Aramco

Saudi Aramco is the national oil company of Saudi Arabia
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The company employs 65,000 people
.
Is currently the world's largest oil production company
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The company's annual crude oil output is about three times that of China's national oil production
.
Saudi Aramco has total remaining recoverable crude oil and condensate reserves of 260.
8 billion barrels, natural gas reserves of 298.
7 trillion cubic feet, and refining capacity of 150 million tons
.

No.
2 National Iranian Oil Company

The total remaining recoverable oil and gas reserves owned by the National Iranian Oil Company are as high as 49 billion tons, ranking first in the world
.
Iran has the world's third-largest proven oil reserves and the second-largest proven natural gas reserves
.
Iran is estimated to have more than 560 billion barrels of oil reserves underground, of which about 140 billion barrels of recoverable oil reserves
.
Of the total oil reserves, heavy and extra-heavy oil reserves account for about 70 billion to 100 billion barrels
.
 

No.
3 PetroChina

China National Petroleum Corporation is an important state-owned enterprise and one of the major oil and gas producers and suppliers in China.
It is a comprehensive international energy company that provides services and takes a leading position in domestic oil and gas exploration and development, and conducts oil and gas business in 35 countries and regions around the world
.