Press Release

Release Of Energy Intelligence Top 100: NOC & IOC Rankings

Copyright © 2022 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

Energy Intelligence has released its annual ranking of the world’s 100 largest oil companies, revealing how corporate strategy is set to be illuminated as much by gains in size as much as their declines.

The Energy Intelligence Top 100: Global NOC & IOC Rankings the only ranking system that compares private sector firms with national oil companies. This in-depth analysis ranks six key operational metrics together with 60 additional company performance parameters.

Here are some of the key findings from the recent ranking:

  • Top 10 membership remains unchanged. Saudi Aramco remains firmly in first place, ahead of National Iranian Oil Co. and China National Petroleum Corp.
  • Supermajors have stabilized their top ranking standings after delivering organic production gains last year, but broader industry pressure looms large—balance sheet protection and long-term energy transition strategies will shape future rankings.
  • US-focused independents continue to drive movement among the remaining Top 100 companies. This bloc of 23 companies, however, may have peaked in both number and production volumes as industry consolidation pace gains momentum.
  • Ovintiv (formerly Encana) delivered the strongest advancement among the entire Top 100 group in this edition, jumping from No. 60 to No. 43 following its acquisition of Newfield Exploration.
  • New entrants in the 2021 ranking include: Seven Generations Energy (No. 85) and Chrysaor (No. 94). South African firm Sasol Limited (No. 83) and Polish firm PGNiG (No. 98) return to the rank.

Alex Schindelar, President of Energy Intelligence, said:

“The latest Energy Intelligence Top 100: Global NOC and IOC Rankings reflect an industry on the cusp of transformational change. Companies have understood for some time that transition was inevitable but now we think that the tectonic impact of the twin Covid-19 and oil market crises of 2020 will accelerate that change."

Energy Intelligence’s flagship publication Petroleum Intelligence Weekly (PIW) is also publishing the rankings of the Top 50 oil companies along with valuable insights into their performance. PIW has published its annual Top 50 for more than 30 years.

Six parameters are used to compile the rankings: oil reserves, natural gas reserves, oil production, natural gas production, refinery distillation capacity and refined product sales. The Energy Intelligence Top 100: Global NOC & IOC Rankings analysis considers an additional 60 financial and operational parameters.

The Top 10 companies in this year’s rankings are:

1. Saudi Aramco
4. Exxon Mobil
5. BP
6. Rosneft
7. Shell
9. Gazprom
10. Total

The list of Top 50 companies is available to clients of Petroleum Intelligence Weekly, and the full rankings and analysis are available to clients of the Energy Intelligence Top 100: Global NOC & IOC Rankings, as part of Energy Intelligence’s suite of online interactive data services.


To discuss the Energy Intelligence Top 100: Global NOC & IOC Rankings, please contact:
Monica Enfield
Managing Director, Research & Advisory / + 1 202 421 4674

Press Release (Marketing)
Wanda Ad #2 (article footer)
The Norwegian major is poised to grab one of five leases offered in the US’ first commercial-scale floating wind lease sale.
Wed, Dec 7, 2022