A couple of years ago I used some of my savings and began investing in the oil industry, after years of trading in stocks I felt it was time to move on to something new and after much research I decided upon oil. I worked with an excellent investment company called JBH Consulting, a forward thinking and knowledgeable company who would look after my investments. I reviewed many companies before starting out but it was this one that caught my eye, firstly because their influential presidenthad excellent knowledge and experience in both the financial and oil sectors, but also because his company had an excellent track record with investments.
Through the years I’ve learned so much about the industry including who the biggest companies are, many are curious as to who generates the most income from oil so here are the top 4 for you.
By far and away the biggest producer of oil, Saudi Aramco produces around 12.5 million barrels per day and generates around $1billion each day from revenues. The largest of the company’s projects is the Shaybah mega project which is said to be sitting on top of 15 billion barrels of crude oil in the Rub-al-Khali desert.
The World’s largest producer of natural gas is the Russian company Gazprom which is controlled by the Kremlin. Gazprom makes around $40billion in profits every year and is regularly used as a political football by Russia. There is something of a monopoly on Russian gas supplies to Europe and this has given people like President Vladimir Putin the ability to project political power.
National Iranian Oil Co.
With oil production each day of around 6.3 million barrels per day, the National Iranian Oil Co. have somehow managed to continuously profit in spite of international sanctions that were imposed on Iran. It is thought that the company is still selling a lot of oil to India and Turkey which is being paid for with gold, a way to avoid breaking the sanctions. The Strait of Hormuz is the mainstay for this company and the region is predicted to have sufficient oil to keep Iran running for at least another 150 years.
The American company ExxonMobil is situated in Texas and is a descendant of John D.Rockefeller’s successful Standard Oil Company. In 2015 alone the company received revenue of $268billion and net profit of $21billion. In spite of criticisms in the past for slow reactions to oil spills, the company continues to be America’s most trusted oil production company. ExxonMobil has 37 oil refineries in 21 countries around the World. The company also has brands under its name such as Esso, Exxon and Mobil, the three brands operate as gas stations, sales brands for mechanical outlets and other petroleum related businesses. ExxonMobil are heavy investors in refinery companies around the globe and year on year continue to make smart investments into the future of oil.