Mapped: The World’s Largest State-Owned Oil Companies

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Map of the largest state-owned oil companies

Mapped: The World’s Largest State-Owned Oil Companies

Oil is one of the world’s most important natural resources, playing a critical role in everything from transportation fuels to cosmetics.

For this reason, many governments choose to nationalize their supply of oil. This gives them a greater degree of control over their oil reserves as well as access to additional revenue streams. In practice, nationalization often involves the creation of a national oil company to oversee the country’s energy operations.

What are the world’s largest and most influential state-owned oil companies?

Editor’s Note: This post and infographic are intended to provide a broad summary of the state-owned oil industry. Due to variations in reporting and available information, the companies named do not represent a comprehensive index.

State-Owned Oil Companies by Revenue

National oil companies are a major force in the global energy sector, controlling approximately three-quarters of the Earth’s oil reserves.

As a result, many have found their place on the Fortune Global 500 list, a ranking of the world’s 500 largest companies by revenue.

Country Name Fortune Global 500 Rank 2019 Revenues 
China Sinopec Group 2 $443B
China China National Petroleum Corporation (CNPC)  4 $379B
Saudi Arabia Saudi Aramco 6 $330B
Russia Rosneft 76 $96B
Brazil Petrobras 120 $77B
India Indian Oil Corporation (IOCL)  151 $69B
Malaysia Petronas 186 $58B
Iran National Iranian Oil Company (NIOC)  Not listed $19B* 
Venezuela  Petróleos de Venezuela (PDVSA) Not listed $23B (2018)

*Value of Iranian petroleum exports in 2019. Source: Fortune, Statista, OPEC

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Disclosure: This material has been distributed for informational purposes only. It is the opinion of the author and should not be considered as investment advice or a recommendation of any ...

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