Save for later Print Download Share 博彩对冲 has released its annual ranking of the world鈥檚 100 largest oil and gas companies. Some of the most significant ranking movements in the 2024 edition of the Top 100: Global NOC & IOC Rankings reflect the impact of Russia withdrawal on the downside and consolidation on the upside.The 博彩对冲 Top 100: Global NOC and IOC Rankings is the only ranking system that compares private sector firms with national oil companies. Six parameters are used to compile the Top 100 rankings: oil reserves, natural gas reserves, oil production, natural gas production, refinery distillation capacity and refined product sales.Here are some of the key findings from the recent ranking:Membership in the Top 10, which represents around 34% of global oil and gas production, has encountered its most significant upheaval in several years. BP鈥檚 dramatic, historic fall from this Top 10 group opened space for other companies to fill the void.Saudi Aramco, NIOC, CNPC and Exxon Mobil retain the first, second, third and fourth spots, respectively. Exclusion of its Rosneft stake from its results drove BP鈥檚 decline from No. 6 to 14. Rosneft鈥檚 rank remains unchanged at No. 5, despite full accounting of its operations. Similarly, Gazprom鈥檚 rank remained unchanged at No. 7.North American companies remain a key Top 100 bloc, with US and Canadian-focused independents accounting for 28 of the Top 100 firms. Eight of the 13 companies advancing more than four spots in this year鈥檚 Top 100 are North American, with Coterra Energy, Tourmaline Oil, PDC Energy and Arc Resources the top gainers.Some of the most significant ranking movements among Top 100 companies this year reflect upstream consolidation. Over the last decade, 13 US-focused Top 100 independents have merged with other Top 100 companies.Whitecap Resources (No. 86) is a new entrant in the 2024 ranking, while Oil India (No. 100) returns to the rank this year.Alex Schindelar, President of 博彩对冲, said: 鈥淭he Top 100 operational data continues to show an industry wrestling with competing priorities. Downstream rationalization continues, but upstream consolidation reflects a still solid, if not growing, bet on long-term oil demand by some firms.This year鈥檚 Top 100 rankings certainly reflect upstream M&A momentum 鈥� a trend we expect still has considerable room to run. Absorption of Pioneer Natural Resources by Exxon Mobil, and PDC Energy and Hess by Chevron in 2023 will open several slots for new companies to enter the Top 100 in the next couple of editions. Ongoing North American M&A activity in 2024 will only widen this opportunity if additional Top 100 companies merge.But we also expect carbon emissions reduction goals to have important implications for both upstream and downstream operational metrics in the future. A reduced downstream footprint is the most immediate evidence of this trend, with the supermajor group retrenching refined product sales by 60% since 2013.鈥� The Top 10 companies in this year鈥檚 rankings are:1. Saudi Aramco2. NIOC3. CNPC4. Exxon Mobil5. Rosneft6. Chevron7. Gazprom8. PDVSA9. Shell10. TotalEnergies博彩对冲鈥檚 flagship publication Petroleum Intelligence Weekly is also publishing the rankings of the Top 50 oil and companies along with valuable insights into their performance. PIW has published its annual Top 50 for more than 30 years. The full rankings and analysis are available to 博彩对冲 Top 100: Global NOC & IOC Rankings clients, as part of 博彩对冲鈥檚 Competitive Intelligence Service.- ENDS -To discuss the 博彩对冲 Top 100: Global NOC & IOC Rankings, please contact:Monica EnfieldManaging Director, Research and Advisory
