Infographic: The World's 10 Biggest Oil and Gas Companies
Today’s infographic not only ranks oil producers based on factors such as barrel production per day, but it also compares data from a decade ago with today’s information for better perspective.
From 2005 to 2015, global oil usage has only increased from 83 million to 93 million bpd (1.13% CAGR).
However, the overall rate at which the Top 10 has grown production has been at a 1.29% CAGR pace, and their production now makes up about 58% of all global production.
The companies with the most impressive increases over this time are all state-owned. Saudi Aramco, the world’s largest producer, increased production from 10.8 million bpd (2004) to 12 million bpd (2014). Rosneft, National Iranian Oil, Petrochina, and Kuwait Petrol Corp all saw sizeable increases.
The only company to see a big decrease was also state-owned (Gazprom).
Oil and gas continues to make up the majority of the global energy mix with 33% and natural gas at 24%. That said, based on the CAGRs above, it does seem that we are making progress in tapering the growth of production.
Human population and the economy are growing at rates higher than 1.13%, so that means oil is giving up ground to other energy sources.
Editor’s Note: Be sure to sign up for The Daily Reckoning — a free and entertaining look at the world of finance and politics. The articles you find here on our website are only a snippet of what you receive in The Daily Reckoning email edition. Click here now to sign up for FREE to see what you’re missing.