Oct. 25, 2021
15 biggest oil companies | Huge profit (DVN, PSX, MPC, CVX,
XOM, CHK, OXY) | Texas (DVN, PSX, MPC,
CVX, XOM, CHK, OXY) | 15 PARR, 14 DVN 13 CHK 12 DK 11 PXD 10 PBF 9 HFC 8 EOG 7
OXY 6 VLO 5 COP 4 PSX 3 MPC 2 CVX 1 XOM
Here is the article.
15 biggest oil companies | Huge profit
(DVN, PSX, MPC, CVX, XOM, CHK, OXY) |
Texas (DVN, PSX, MPC, CVX, XOM, CHK, OXY) | 15 PARR, 14 DVN 13 CHK 12 DK 11 PXD
10 PBF 9 HFC 8 EOG 7 OXY 6 VLO 5 COP 4 PSX 3 MPC 2 CVX 1 XOM
The
oil industry got clobbered in 2020 and continues to face volatility amid the
coronavirus crisis. However, oil investors are hopeful as countries begin to
vaccinate their populations and industries restart their operations. Recently,
the International Energy Agency said in a report that it expects oil demand to
hit 100.6 million barrels for the first time since late 2019 in the last
quarter of 2022. However, the agency noted that the slow pace of vaccinations
in Asia could dent the expected recovery.
Nonetheless,
analysts believe that oil companies have seen the rock bottom and are set to
gain in the coming months. Despite the global push towards renewable energy and
price fluctuations, the oil industry is expected to thrive for years to come,
with major oil companies like Devon Energy (NYSE:DVN), Phillips 66 (NYSE:PSX),
Marathon Petroleum (NYSE:MPC), Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM),
Chesapeake Energy (NYSE:CHK) and Occidental Petroleum (NYSE:OXY) expecting huge
profits.
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The
oil and gas industry is a major player in the U.S. economy, and contributes
close to 6 million jobs, or 5.6% of total employment in the United States,
which is absolutely massive, with a lot of these coming from the biggest oil
companies in USA.
Within
the United States, the leading oil producer is the state of Texas, which is
followed by the Gulf of Mexico, North Dakota and New Mexico. Several companies
like Devon Energy (NYSE:DVN), Phillips 66 (NYSE:PSX), Marathon Petroleum
(NYSE:MPC), Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM), Chesapeake Energy
(NYSE:CHK) and Occidental Petroleum (NYSE:OXY) have operations in Texas.
To
determine the biggest oil companies in USA, we used data from Fortune 500,
which ranks and provides information on the top 500 companies in the United
States. We used revenue, profits, assets and total employees of the company as
per the latest report to calculate our own rankings, giving precedence to
revenue and assets over profits and employees. After all, Amazon was a loss
making company just up to a few years ago, but was still among the biggest
retailers in the world. So without further ado, let's take a look at the
companies dominating one of the cornerstones of the American economy, starting
with number 15:
15. Par Pacific
Holdings (NYSE:PARR)
- Total revenue of the company in 2019 (in millions of dollars): 5,402
- Total profits of the company in 2019 (in millions of dollars): 41
- Total assets of the company in 2019 (in millions of dollars): 2,701
- Total employees of the company in 2019: 1,408
Par Pacific is headquartered in Houston, Texas and is the owner
of the largest refinery in the state of Hawaii.
14. Devon Energy (NYSE:DVN)
- Total revenue of the company in 2019 (in millions of dollars): 7,372
- Total profits of the company in 2019 (in millions of dollars): -355
- Total assets of the company in 2019 (in millions of dollars): 13,717
- Total employees of the company in 2019: 1,800
Devon Energy is engaged in hydrocarbon exploration, and was
founded half a century ago in 1971. The company currently has around 752
million barrels of oil reserves. It has been involved in the acquisition of
several acquisitions over the years, worth several tens of billions of dollars.
13. Chesapeake
Energy (NYSE:CHK)
- Total revenue of the company in 2019 (in millions of dollars): 8,489
- Total profits of the company in 2019 (in millions of dollars): -308
- Total assets of the company in 2019 (in millions of dollars): 16,193
- Total employees of the company in 2019: 2,300
Headquartered in Oklahoma City, Oklahoma, the company was
founded 32 years ago in 1989 and produces more than 445,000 barrels of oil a
day. It is also among the 100 most polluting companies in the world, ranking
90th, according to the Guardian. Like Devon Energy (NYSE:DVN), Phillips 66
(NYSE:PSX), Marathon Petroleum (NYSE:MPC), Chevron (NYSE:CVX), Exxon Mobil
(NYSE:XOM) and Occidental Petroleum (NYSE:OXY), Chesapeake is one of the
biggest oil companies in the US.
12. Delek US
Holdings (NYSE:DK)
- Total revenue of the company in 2019 (in millions of dollars): 9,298
- Total profits of the company in 2019 (in millions of dollars): 311
- Total assets of the company in 2019 (in millions of dollars): 7,016
- Total employees of the company in 2019: 3,707
Founded in 2001, the 20 year old company is a diversified
downstream energy company and is headquartered in Tennessee.
11. Pioneer National
Resources (NYSE:PXD)
- Total revenue of the company in 2019 (in millions of dollars): 9,304
- Total profits of the company in 2019 (in millions of dollars): 756
- Total assets of the company in 2019 (in millions of dollars): 19,067
- Total employees of the company in 2019: 2,323
Pioneer is engaged in hydrocarbon exploration and is currently
headquartered in Irving, Texas. The company currently has more than 1.2 billion
barrels of oil reserves. Like Devon Energy (NYSE:DVN), Phillips 66 (NYSE:PSX),
Marathon Petroleum (NYSE:MPC), Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM),
Chesapeake Energy (NYSE:CHK) and Occidental Petroleum (NYSE:OXY), PXD is one of
the biggest oil companies in USA.
10. PBF Energy (NYSE:PBF)
- Total revenue of the company in 2019 (in millions of dollars): 24,508
- Total profits of the company in 2019 (in millions of dollars): 319
- Total assets of the company in 2019 (in millions of dollars): 9,132
- Total employees of the company in 2019: 3,442
PFB Energy is one of the newer countries in our list, having
only been founded 13 years ago in 2008. However, it has grown quite fast in the
past decade.
9. HollyFrontier (NYSE:HFC)
- Total revenue of the company in 2019 (in millions of dollars): 17,487
- Total profits of the company in 2019 (in millions of dollars): 772
- Total assets of the company in 2019 (in millions of dollars): 12,165
- Total employees of the company in 2019: 4,074
HollyFrontier is headquartered in Dallas, Texas and was founded
74 years ago in 1947.
8. EOG Resources (NYSE:EOG)
- Total revenue of the company in 2019 (in millions of dollars): 17,380
- Total profits of the company in 2019 (in millions of dollars): 2,735
- Total assets of the company in 2019 (in millions of dollars): 37,125
- Total employees of the company in 2019: 2,900
You will find a few of the biggest oil companies in USA
headquartered in Houston, Texas and EOG is exactly the same. The company was
founded 22 years ago in 1999. Like Devon Energy (NYSE:DVN), Phillips 66
(NYSE:PSX), Marathon Petroleum (NYSE:MPC), Chevron (NYSE:CVX), Exxon Mobil
(NYSE:XOM), Chesapeake Energy (NYSE:CHK) and Occidental Petroleum (NYSE:OXY),
EOG is one of the biggest oil companies in USA.
7. Occidental
Petroleum (NYSE:OXY)
- Total revenue of the company in 2019 (in millions of dollars): 21,971
- Total profits of the company in 2019 (in millions of dollars): -667
- Total assets of the company in 2019 (in millions of dollars): 109,330
- Total employees of the company in 2019: 14,400
Founded in 1920, the company is just over a century old and has
operations in various countries including the Middle East, Colombia, Canada and
Chile.
6. Valero Energy (NYSE:VLO)
- Total revenue of the company in 2019 (in millions of dollars): 102,729
- Total profits of the company in 2019 (in millions of dollars): 2,422
- Total assets of the company in 2019 (in millions of dollars): 53,864
- Total employees of the company in 2019: 10,222
One of the biggest oil companies in USA, Valero was founded 41
years ago in 1980 and operates 15 refineries, with 1 in Wales. The company also
has at least 6,800 retail and branded wholesale outlets in various countries
including the United Kingdom, Canada, the United States as well as the
Caribbean. One of its most popular brands is the Texaco brand. Like Devon
Energy (NYSE:DVN), Phillips 66 (NYSE:PSX), Marathon Petroleum (NYSE:MPC),
Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM), Chesapeake Energy (NYSE:CHK) and
Occidental Petroleum (NYSE:OXY), Valero is one of the biggest oil companies in
USA.
5.
ConocoPhillips (NYSE:COP)
- Total revenue of the company in 2019 (in millions of dollars): 36,670
- Total profits of the company in 2019 (in millions of dollars): 7,189
- Total assets of the company in 2019 (in millions of dollars): 70,514
- Total employees of the company in 2019: 10,400
ConocoPhillips was founded 146 years ago back in 1875. It is
currently, like many of the biggest oil companies in USA, headquartered in Texas,
in the city of Houston. It is responsible for the biggest oil reserve discovery
of 2020, with between 75.5 million to 201 million barrels of oil discovered. In
2019, the company was producing around 1,348 thousand barrels of oil daily and
is also considered to be one of the biggest polluters in the world.
4.
Phillips 66 (NYSE:PSX)
- Total revenue of the company in 2019 (in millions of dollars): 109,559
- Total profits of the company in 2019 (in millions of dollars): 3,076
- Total assets of the company in 2019 (in millions of dollars): 58,720
- Total employees of the company in 2019: 14,500
Phillips 66 was founded 94 years ago in 1927 and is currently
headquartered in Houston, Texas. The company has activities in at least 65
countries across the world, and is one of the few companies in the world to
have revenues of more than $100 billion.
3.
Marathon Petroleum (NYSE:MPC)
- Total revenue of the company in 2019 (in millions of dollars): 124,813
- Total profits of the company in 2019 (in millions of dollars): 2,637
- Total assets of the company in 2019 (in millions of dollars): 98,556
- Total employees of the company in 2019: 60,910
Marathon Petroleum used to be a subsidiary of Marathon Oil,
before becoming a spin-off back in 2011. The company is currently headquartered
in Ohio and has at least 6,900 retail outlets which are independently owned as
well as 1,100 direct dealer locations.
2.
Chevron (NYSE:CVX)
- Total revenue of the company in 2019 (in millions of dollars): 146,516
- Total profits of the company in 2019 (in millions of dollars): 2,924
- Total assets of the company in 2019 (in millions of dollars): 237,428
- Total employees of the company in 2019: 48,200
Founded 141 years ago, Chevron is currently 141 years old and
one of the most recognizable oil companies in the world, maintaining a presence
in more than 180 countries as well as being involved in every aspect of the oil
industry.
1.
Exxon Mobil (NYSE:XOM)
- Total revenue of the company in 2019 (in millions of dollars): 264,938
- Total profits of the company in 2019 (in millions of dollars): 14,340
- Total assets of the company in 2019 (in millions of dollars): 362,597
- Total employees of the company in 2019: 74,900
The direct descendant of Standard Oil, the largest
oil company in US history, Exxon Mobil currently easily tops the rank of the biggest oil companies in USA. Exxon Mobil is
headquartered in the biggest oil producing state in America, Texas , and by
revenue, is the second biggest company in the United States. The company is
also responsible for one of the biggest oil spills in history because of the
1989 Exxon Valdez oil spill.
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