Save for later Print Download Share LinkedIn Twitter Energy Intelligence has released its annual ranking of the world’s 100 largest oil and gas companies. “More supply” has been a key rallying cry as the energy crisis deepens. However, the latest rankings show a post-pandemic oil and gas industry still wrestling with strategic direction.The Energy Intelligence Top 100: Global NOC and IOC Rankings is 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:The Top 10 companies, which represent around 35%-40% of global oil and gas production, remain unchanged this year. Yet, European supermajor shrinkage in the downstream segment is driving some reshuffling. BP, Shell and TotalEnergies each dropped a spot (to #6, # 8 and #10, respectively), as part of this long-term trend.Consolidation and price-related reserve growth have opened space in the Top 100 for both new and returning companies in this latest ranking. The US-focused Independents drove the largest changes in the Top 100 ranks this year on the back of upstream M&A deals and consolidation: Devon Energy, Pioneer Natural Resources, Diamondback Energy and Southwestern Energy were among the largest advancers in this edition.Next year’s Top 100 edition will capture further M&A deals from 2022, with expected jumps in rank for EQT, Chesapeake Energy, Devon Energy, Diamondback Energy and Cenovus Energy.Companies continue to thread the needle between the vital need for traditional oil and gas investment and fulfillment of longer-term transition strategies. Windfall revenues allows them to do both, for now.New entrants in the 2022 ranking include: Harbour Energy (No. 97), Energean (No. 98) and National Fuel (No. 100). Imperial Oil (No. 91) and Crescent Point Energy (No. 96) return to the rank this year.Alex Schindelar, President of Energy Intelligence, said: “Upstream oil and gas activity has recovered substantially, with gas production growing even more meaningfully. But oil output remains well below pre-pandemic levels.The Russia-Ukraine war has only amplified post-pandemic recovery imbalances and underinvestment across all fuels, while illuminating the difficulty in finding quick solutions compatible with longer-term transition strategies.The latest Top 100 rankings reflect this holding pattern.” 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 2. NIOC 3. CNPC 4. Exxon Mobil 5. Rosneft 6. BP 7. Gazprom 8. Shell 9. Chevron 10. TotalEnergies Energy Intelligence’s flagship publication Petroleum Intelligence Weekly also publishes the rankings of the Top 50 oil and gas companies, along with valuable insights into their performance – this is available to clients of Petroleum Intelligence Weekly.The full rankings and analysis of the Energy Intelligence Top 100: Global NOC & IOC Rankings are available to clients through Energy Intelligence’s Competitive Intelligence Service.- ENDS - To discuss the Energy Intelligence Top 100: Global NOC & IOC Rankings, please contact:Monica EnfieldManaging Director, Research and Advisorymenfield@energyintel.com | +1 202 421 4674For further information on Energy Intelligence, please contact:Pascalle OllerheadMedia Relations Managerpollerhead@energyintel.com | +44 (0)20 7518 2246
