The 2016 ranking of the top 50 oil companies in the world has been released, with changes in the rankings of Chinese oil companies!

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The 2016 ranking of the top 50 oil companies in the world has been released, with changes in the rankings of Chinese oil companies! Petroleum Intelligence Weekly (PIW) is a magazine on the oil industry published by the Energy Intelligence Group in the United States. It releases an annual ranking of the world’s 50 largest oil companies, using six criteria for evaluation: oil reserves, natural gas reserves, oil production, natural gas production, refining capacity, and oil product sales. This ranking holds great authority in the industry; it is the 30th time since 1987 that a list of the world’s top 50 oil companies has been published (the full list is attached at the end). China’s three major oil companies are performing strongly. CNPC ranks third, Sinopec is in 20th place, and CNOOC is in 30th place. Overall, the performance of China’s three major oil companies in 2016 was commendable, and this is closely linked to the ongoing reforms carried out by these companies throughout that year. It is worth noting that the rankings of the two Indian oil companies that made it into the Top50 list have both improved compared to the previous year. This is inevitably linked to the sharp increase in India’s oil demand in 2016; over the past 10 years, India’s oil consumption has grown at an average annual rate of 5%, and by March 2016 it exceeded 4 million barrels per day for the first time. Currently, India is the world’s fourth-largest oil consumer, behind the United States, China, and Japan, and is expected to overtake Japan in the next 12 to 18 months to become the third-largest oil consumer. The impact of shale oil and gas is beginning to show. Although the oil and gas industry showed signs of recovery in the second half of 2016, the \"low oil prices\" that persisted for nearly three years had a significant impact on the ranking of shale oil and gas producers. Anadarko Petroleum, the oil company that experienced the biggest drop in ranking, fell 5 places to land in 40th place. Next, let’s take a look at the list of the top 10 in various categories among the world’s 50 largest oil companies. Ranking of crude oil reserves: In the top 10 list of countries with the largest crude oil reserves, there is one obvious feature: the vast majority of these oil companies have the word \"oil company\" in their name. It can be seen from these oil companies that, as expected, they all come from major oil-producing countries. Moreover, oil companies from OPEC account for the majority of these positions. CNPC has become the only Chinese oil company to make it into the top ten in terms of crude oil reserves. Rankings of natural gas reserves: There have been slight changes in the lists of the top 10 countries in terms of natural gas reserves as well as those for crude oil reserves, but the regional characteristics of these oil companies remain unchanged. Oil companies from OPEC-producing countries still occupy the majority of the top positions, while those from Russia and oil-producing regions in South America have also managed to make it into the top 10. CNPC remains the only Chinese oil company to make it into the top ten in terms of natural gas reserves. Ranking of crude oil production: Among the top 10 countries in terms of crude oil production, Saudi Aramco’s output stands out significantly, while the production levels of the other nine oil companies are fairly similar to each other. CNPC ranks fairly high in terms of crude oil production, coming in fifth place. Surprisingly, among the several major Western oil companies, ExxonMobil is the only U.S.-based oil company to make it into the top 10 in terms of crude oil production. Ranking of natural gas production: Among the top 10 producers of natural gas, Gazprom leads by a large margin, far outpacing other oil companies in terms of production volume. This is inseparable from Gazprom’s substantial natural gas reserves, as well as from Russia’s status as a major gas-producing country. Four European and American oil companies appear in this ranking. ExxonMobil, Shell, BP, and Total, these well-known established oil companies are all included in the ranking. It is evident that these four European and American oil companies prefer the natural gas industry, and this is likely due to the prevailing attitudes toward natural gas consumption in Europe and America. CNPC has also made it into the top 10 list for natural gas production. Ranking of refining capacity: http://mmbiz.qpic.cn/mmbiz_png/6FRetzCCRp32FXvy4fAFvmJVaDicDibobHnk9p2IjkUnGUJ4t2dCqIHu5gvCDz9Mia4J3wiaWUST6Ay2lviaKPQIhIg/0?wx_fmt=png Among the top 10 in terms of refining capacity, oil companies from China dominate the list. Sinopec holds the top position in terms of refining capacity by a huge margin, while CNPC also makes it into the top three with a significant advantage. The refining capacity of the established oil company ExxonMobil is also significant, ranking second right after Sinopec. In addition to ExxonMobil, three other established oil companies—Shell, Total, and BP—are also among the top ten in terms of refining capacity. In terms of product sales volume rankings, established Western oil companies demonstrate their strength and experience. Shell, ExxonMobil, and BP remain in the top three positions, which is linked to the strategy of these established Western oil companies to operate in all stages of the oil industry chain. Now, more and more oil companies are focusing less on exploration and extraction, and more on downstream sales. Sinopec and CNPC also made it into the top ten in terms of product sales volume, and China’s three major oil companies realized early on the importance of integrating production with sales. Ranking of oil companies with non-state ownership interests: http://mmbiz.qpic.cn/mmbiz_png/6FRetzCCRp32FXvy4fAFvmJVaDicDibobHbo4gyh1HqkkVe68wEwiaXU98ySw85s6uSXXARquS9tLcpLho5vibUG6Q/0?wx_fmt=png In this ranking, well-known Western oil companies hold a clear advantage. Surprisingly, however, three of them are oil companies from Russia, and none of them are privately-owned oil companies from OPEC. BP ranks second among oil companies with non-state ownership, right after ExxonMobil, which is in first place. BP also saw an improvement in its overall ranking compared to the previous year. It is evident that BP’s operational capabilities and corporate strategic direction in the face of a sluggish oil market are worth learning from and studying by other oil companies. The business management philosophy promoted by BP is also an essential part of its success. Detailed list: Note: This image is sourced from Petroleum Economy Network