Thursday, February 6, 2014

Exploring the world’s three biggest oil and gas companies

For decades, various industries have been dependent on oil and petroleum companies for the maintenance and development of civilization. According to a report, natural gas is the fastest growing fossil fuel in terms of global consumption and is projected to increase 1.7 percent annually, creating an international market similar to oil.

This Forbes article lists the world’s top oil companies based on their overall volume of production of oil and gas. The following take the top three spots:

3. National Iranian Oil Co. - 6.4 million barrels per day
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In third place, the National Iranian Oil Co. produces 6.4 million barrels of oil and gas per day. Since its establishment in 1951, the company has been one of the world’s largest oil companies through its exploration, drilling, production, research and development, refining, distribution and export of oil, gas, and petroleum products.

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The second biggest company is Russia’s Gazprom. Dubbed as the world’s largest producer of natural gas, Gazprom specializes in geological exploration, production, transportation, storage, processing and sale of gas, gas condensate and oil, and gas as a vehicle fuel, as well as the generation and marketing of heat and electric power. The company owns 18 and 72 percent of the global and Russian gas reserves, respectively.

1. Saudi Aramco - 12.5 million barrels per day
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Finally, taking the top spot is Saudi Aramco, which produces 12.5 million barrels of oil in a day. For 80 years, the company has been a world leader in hydrocarbons exploration, production, refining, distribution, shipping, and marketing, as well as a leading exporter of crude oil and natural gas liquids.

Dr. Ali Ghalambor is a renowned petroleum engineer who has delivered numerous technical presentations and courses that discuss aspects of petroleum production. Learn more about his insights about the industry by following this Twitter account.

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