Downstream Retrenchment, M&A Shake Up Oil Hierarchy

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

Energy Intelligence’s annual ranking of the world’s Top 100 oil companies has thrown up intriguing changes to the industry’s pecking order that could signal a bigger shift ahead, as independents gained ground through M&A and majors scaled back in refining and reserves replacement. Based on operational results for national and international oil companies’ 2021 fiscal years, our proprietary Top 100: Global NOC & IOC Rankings analysis shows an energy world bouncing back from the coronavirus pandemic but also continuing to navigate the transition. Here are our key takeaways from the 2023 edition:

NOCs, Majors, Independent E&Ps, Refining, M&A
Wanda Ad #2 (article footer)
We see Shell’s purchase of biomethane producer Nature Energy as an acknowledgement that natural gas must be cleaner to play a role in the transition.
Tue, Nov 29, 2022
Suncor is making safety the keystone of its larger strategy to reverse its fortunes following a rough 2022.
Tue, Nov 29, 2022
The Sinopec-QatarEnergy LNG deal not only shows the firm's interest in Qatar's NFE project but could set the tone for Asian price review talks.
Tue, Nov 29, 2022