The world’s five largest oil producing companies are located outside of North America: Saudi Aramco (#1-Saudi Arabia), Rosneft (#2-Russia), Kuwait Petroleum Company (#3-Kuwait), The National Iranian Oil Company (#4-Iran) and The China National Petroleum (#5-China). These companies produce an estimated 3 million to 10 million barrels of oil equivalent per day (boe/d). By contrast, the largest companies by production in the U.S. are ExxonMobil Corp (XOM:NYSE) at about 3.8 million boe/d (Q4/2022) and Chevron Corp (CVX:NYSE) at 3.0 million boe/d of global production (2022). Suncor Energy (SU:TSX/NYSE) is Canada’s largest producer exceeding 700 thousand boe/d (Q4/2022).
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By Charles Marleau CIM® and William Mitchell CIM®
By Charles Marleau CIM® and William Mitchell CIM®
