averaged 49. 3 million b/d in 2014 vs. 48.7 million b/d in 2013.
Unchanged from the previous OGJ100, the world’s top
two oil producers in terms of volume are Saudi Aramco and
OAO Rosneft. During 2014, Iraq National Oil Co. overtook
National Iranian Oil Co. (NIOC), which is now No. 4, as the
No. 3 oil producer.
Reporting production of 1 billion bbl last year, an increase of 9.2%, Abu Dhabi Co. has moved up to No. 6 from
the No. 7 producer in the previous OGJ100.
BP PLC has slipped to No. 12 from No. 11 with total year
2014 output down 4.5% to 665.4 million bbl, partly
reflecting the Abu Dhabi onshore concession expiry. Production from Total SA declined 11.4% to
377.4 million bbl. Royal Dutch Shell PLC’s 2014 oil
production dipped 4.2%.
With reported crude reserves of 298 billion bbl,
Petroleos de Venezuela SA exceeds the second leading company, Saudi Aramco, with 32 billion bbl in
reserves, and the third, NIOC, with 140 billion bbl.
Petroleo Brasileiro SA moved up to 13th from
Based on the latest OGJ estimates, the top 20 reserves
leaders control 78% of total world crude oil reserves (OGJ,
Dec. 1, 2014, p. 30).
If the top 20 production and reserve leaders tables included international oil companies headquartered in the
US, ExxonMobil Corp. would rank 14th in worldwide liquids production and 5th in worldwide liquids reserves.
SPECIAL
REPORT
OGJ100: PRODUCTION AND RESERVE LEADERS
Rank Company Production, million bbl Rank Company Reserves, million bbl
1 Saudi Arabian Oil Co. .......................................................... 3,540.5 1 Petroleos de Venezuela SA...............................................298,000.0
2 OAO Rosneft ....................................................................... 1,618.7 2 Saudi Arabian Oil Co........................................................265,789.0
3 Iraq National Oil Co. ........................................................... 1,204.1 3 National Iranian Oil Co. ...................................................157,800.0
4 National Iranian Oil Co. ...................................................... 1,022.0 4 Iraq National Oil Co. ........................................................144,211.0
5 Kuwait Petroleum Corp........................................................ 1,018.0 5 Kuwait Petroleum Corp. ................................................... 101,500.0
6 Abu Dhabi National Oil Co................................................... 1,014.0 6 Abu Dhabi National Oil Co. ................................................ 92,200.0
7 PetroChina Co. Ltd. ................................................................ 945.5 7 National Oil Corp. (Libya) ...................................................48,363.0
8 Petroleos de Venezuela SA ..................................................... 912.5 8 Nigerian National Petroleum Corp. ..................................... 37,070.0
9 Petroleos Mexicanos ............................................................... 886.5 9 Qatar Petroleum Corp. ....................................................... 25,244.0
10 Petroleo Brasileiro SA ............................................................. 783.7 10 OAO Rosneft...................................................................... 25,053.6
11 Nigerian National Petroleum Corp........................................... 693.9 11 OAO Lukoil ........................................................................ 13,349.0
12 BP PLC .................................................................................. 665.4 12 Sonatrach .......................................................................... 12,200.0
13 OAO Lukoil............................................................................. 656.0 13 Petroleo Brasileiro SA......................................................... 11, 109. 6
14 Sonangol ................................................................................ 607.0 14 PetroChina Co. Ltd............................................................. 10,593.0
15 Royal Dutch Shell .................................................................. 488.0 15 Petroleos Mexicanos ............................................................ 9,711.0
16 OJSC Surgutneftegas .............................................................. 451.5 16 BP PLC................................................................................ 9,694.0
17 Sonatrach............................................................................... 404.1 17 Sonangol.............................................................................. 9,011.0
18 Total SA.................................................................................. 377.4 18 Petroleos del Ecuador .......................................................... 8,200.0
19 Statoil ASA ............................................................................. 357.0 19 Total SA ............................................................................... 5,303.0
20 Petroleum Development Oman LLC ........................................ 346.0 20 Petroleum Development Oman LLC...................................... 5,151.0
Total.................................................................................. 17,991.7 Total ............................................................................. 1,289,552.2
cont’d on p. 56
Conglin Xu
Senior Editor-Economics
Leena Koottungal
Survey Editor/News Writer
Oil & Gas Journal’s latest look at the top 100 oil and gas
producing companies based outside the US shows that profits were down worldwide last year, weighted by the sharp
decline in crude oil prices in the second half of the year as
well as the stronger US dollar.
The OGJ100 list of major non-US companies allows
comparison of size and performance of prominent
companies throughout the world. The companies are
listed by region according to the location of corporate
headquarters rather than ranked by assets or revenues,
since many do not report financial results.
Two Canadian companies included last year no
longer appear in this year’s OGJ100 list: Sonde Resources Corp. filed for bankruptcy, and Petrobank
Energy & Resources Ltd. merged with Touchstone
Exploration Inc. Touchstone and Crescent Point Energy
Corp. join the list instead.
There were no replacements of companies in the top 20
list of oil producers and reserves holders, although the order
has changed. State-owned companies continue to dominate
both lists.
Top 20 in oil production, reserves
Oil production of the top 20 producers based outside the US
Lower oil prices slam OGJ100 2014 earnings
