Did you know that Houston hosts 4,600 energy-related companies and 800 oilfield service companies? Moreover, there are more than 90 pipeline establishments in the area. Additionally, Houston plays an important role in renewable energy, with over 100 solar-related and more than 30 wind-related companies based in the region. Firstly, considering Houston’s rich history, industry concentration, and adaptability, we have listed a few of the top oil and gas companies in Houston.
Moreover, below are some of the highest revenue-producing firms from the Energy Capital of the world:
1. Saudi Aramco
- Founded: 1933
- Headquarters: Dhahran, Saudi Arabia
- Top local executive: Amin H. Nasser
- Revenue in 2023 (TTM): $495.34 B
- Official website: https://www.aramco.com/en
Saudi Aramco is one of the biggest integrated energy and chemical businesses globally. It is one of the top oil and gas companies in Houston. Additionally, Aramco Americas, a subsidiary of Saudi Aramco based in Houston, is involved in various aspects of Aramco’s downstream operations and investments in the Americas. Aramco brings its culture of innovation, global research knowledge, and experience with early-stage technology companies.
The market capitalization of Saudi Aramco as of June 2024 is $1.787 trillion. Moreover, this places Saudi Aramco as the sixth most valuable business in the world by market capitalization. In 2023, Saudi Aramco’s average hydrocarbon production was 12.8 million barrels of oil equivalent per day (MMboed), including 10.7 million barrels per day (MMbpd) of total liquids.
2. Sinopec
- Founded: 2000
- Headquarters: Beijing, China
- Top local executive: Zhang Dong
- Revenue in 2023 (TTM): $473.53 B
- Official website: http://www.sinopecgroup.com/
One of China’s biggest integrated chemical and energy businesses is Sinopec Corp. Its principal operations include the exploration and production, pipeline transportation, and sale of petroleum and natural gas. Additionally, it engages in an import and export agency business for petroleum, natural gas, petroleum products, petrochemicals, and chemical products.
Moreover, the Company is a large-scale integrated energy and chemical company with upstream, midstream, and downstream operations. As of June 2024, Sinopec has a market cap of $97.50 Billion. This makes Sinopec the world’s 164th most valuable company by market cap according to our data. In 2023, Sinopec produced 504.09 million barrels of oil equivalent (mboe), which represents a 3.1% increase compared to the previous year.
3. PetroChina
- Founded: 1999
- Headquarters: Beijing, China
- Top local executive: Ma Yongsheng
- Revenue in 2023 (TTM): $424.78 B
- Official website: http://www.petrochina.com.cn/ptr/
PetroChina Co. Ltd. offers services and goods connected to the petroleum industry. Additionally, it operates in the following segments: Natural Gas Sales. It is one of the top oil and gas companies in Houston. Additionally, in 2023, PetroChina experienced a 4.4% rise in production, reaching 1,759 million barrels of oil equivalent (Mboe).
PetroChina produced 937.1 million barrels of crude oil in 2023, up from 906.2 million barrels in the previous year. PetroChina Company Limited is a Chinese oil and gas company, and the world’s second-largest oil and gas company based on revenue in 2023. PetroChina’s market capitalization as of June 2024 is $245.18 billion. Moreover, based on statistics, this places PetroChina as the 42nd most valuable corporation in the world by market capitalization.
4. Exxon Mobil
- Founded: 1882
- Headquarters: Texas, U.S.
- Top local executive: Joseph Hooley
- Revenue in 2023 (TTM): $334.69 B
- Official website: https://corporate.exxonmobil.com/
Firstly, Exxon Mobil is an oil and natural gas exploration, production, trading, transport, and sales company. Moreover, it is a market leader in the energy and chemical manufacturing industries for profitability, operating facilities, and selling products worldwide. Additionally, ExxonMobil conducts exploration for natural gas and oil on six continents.
Furthermore, they use the four brands—Esso, Exxon, Mobil, and ExxonMobil—to market fuels, lubricants, and chemicals. In terms of production, ExxonMobil generated 7.7 billion cubic feet of natural gas per day in 2023, along with 2.4 million barrels of oil and natural gas liquids. Lastly, Exxon Mobil’s market capitalization stands at $501.25 billion as of June 2024, placing them as the 17th most valuable business globally by market capitalization.
5. Shell PLC
- Founded: 1907
- Headquarters: London, England, UK
- Top local executive: Wael Sawan
- Revenue in 2023 (TTM): $316.61 B
- Official website: https://shell.com/
Shell is a global energy corporation that operates in 70 countries. They are engaged in the production, marketing, refining, and exploration of natural gas and oil, as well as the production and distribution of chemicals. In addition, Shell produced approximately 23 million barrels through joint ventures and associates.
Moreover, they produced 507.6 million barrels of crude oil and natural gas liquids through subsidiaries in 2023. Furthermore, Shell’s market capitalization as of June 2024 stands at $220.38 billion. Consequently, based on these statistics, Shell ranks as the 52nd most valuable corporation globally by market capitalization.
6. Total Energies
- Founded: 1924
- Headquarters: Courbevoie, France
- Top local executive: Mr. Pouyanné
- Revenue in 2023 (TTM): $218.94 B
- Official website: https://totalenergies.com/
One of the leading gas and oil firms in Houston is Total Energies. One of the seven supermajor oil companies, it is a global, French company that combines energy and petroleum business operations. Its operations cover the whole oil and gas value chain, from the production and exploration of crude oil and natural gas to the production of electricity, transportation, refining, marketing of petroleum products, and worldwide trading of crude oil and petroleum products.
Firstly, in 2023, Total Energies generated over 1.55 million barrels of oil liquids daily. Additionally, they produced about 340 Mcf/d12 of net U.S. natural gas. Moreover, as of June 2024, TotalEnergies’ market capitalization stands at $153.49 billion. Consequently, based on these statistics, TotalEnergies ranks as the 90th most valuable company globally by market capitalization.
7. BP
- Founded: 1909
- Headquarters: London, England, UK
- Top local executive: Helge Lund
- Revenue in 2023 (TTM): $210.13 B
- Official website: https://bp.com/
BP is a London, England-based international oil and gas business that was founded in Britain. Based on sales and earnings, it is among the largest enterprises in the world and one of the oil and gas “supermajors”.Firstly, with five production platforms and plans to add more, BP’s Gulf of Mexico operation, headquartered in Houston, can produce more than 400,000 barrels of oil equivalent per day (boe/d).
Moreover, they predict that through the second half of the decade, volumes will average about 350,000 boe/d. Additionally, in 2023, production at BP’s onshore oil and gas company, bpx, increased by 13% year over year. Firstly, as of June 2024, BP’s market capitalization stands at $99.03 billion. Furthermore, based on the statistics, this places BP as the 161st most valuable corporation globally by market capitalization.
8. Chevron
- Founded: 1879
- Headquarters: California, United States
- Top local executive: Mike Wirth
- Revenue in 2023 (TTM): $196.91 B
- Official website: https://www.chevron.com/
Chevron is one of the top oil and gas companies in Houston. Firstly, Chevron is an oil business that operates both downstream and upstream. Furthermore, Chevron also engages in non-energy sectors such as technological development, mining, and chemical operations. With shale advances and acquisitions, Chevron’s oil and gas output increased to 3.1 million barrels per day in 2023.
Chevron specifically predicted a 10% rise in oil production in the Permian Basin, reaching roughly 867,000 barrels per day (bpd). Over 1.5 million barrels of oil and natural gas liquids were produced daily by Chevron Corporation, with 997,000 of those barrels being produced domestically. Moreover, Chevron’s market capitalization is $280.40 billion as of June 2024. Based on the statistics, this places Chevron as the 33rd most valuable business in the world by market capitalization.
9. Marathon Petroleum
- Founded: 2009
- Headquarters: Findlay, Ohio, U.S.
- Top local executive: Mr. Hennigan
- Revenue in 2023 (TTM): $148.37 B
- Official website: https://www.marathonpetroleum.com/
The headquarters of American petroleum refining, marketing, and transportation firm Marathon Petroleum Corporation are located in Findlay, Ohio. The business was a corporate spin-off in 2011 after being a fully owned subsidiary of Marathon Oil. The company holds 13 refineries with a total crude oil throughput of 2,950,000 barrels per calendar day (bpcd).
Marathon Oil Corporation announced oil production of 190,000 net barrels per day (bpd) for the entire year 2023. This figure was in line with the midpoint of the company’s annual projection. Moreover, at the midpoint of guidance, the company’s total oil-equivalent output was projected to be 395,000 net barrels of oil equivalent per day (bored).
10. Valero Energies Corporation
- Founded: 1980
- Headquarters: Texas, United States
- Top local executive: Joe Ogilvie
- Revenue in 2023 (TTM): $144.76 B
- Official website: https://www.valero.com/
Valero Energies Corporation is one of the top oil and gas companies in Houston. Valero Energy Corporation is an American-based downstream petroleum company mostly involved in manufacturing and marketing transportation fuels, other petrochemical products, and power.
Moreover, Valero Energy Corporation projected that its 14 crude oil refineries would run at a combined throughput capacity of 3 million barrels per day (bpd) in the first quarter of 2023, between 85% and 88% of that capacity. As of June 2024, Valero Energy has a market cap of $49.85 Billion. This makes Valero Energy the world’s 372nd most valuable company by market cap according to our data.
End Note
We hope that after reading the entire blog, you will be better able to identify the various traits of top oil and gas companies in Houston. Houston has become the world’s energy capital thanks in large part to the oil and gas sector.
Currently, Houston is home to the largest petrochemical complex in the world, with 4,000 energy firms, and enormous infrastructure assets. Gaining a grasp of Houston’s oil and gas legacy is essential to understanding the past, present, and future of global energy.
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