5 Leading Oil Companies of the World

The production of oil is decreasing. This is true at nearly all of the leading global oil companies. The reserves of these companies are also decreasing. These companies have therefore no other option but to expand their exploration in order to find new petroleum fields and to increase their production. Trillions of dollars may be exhausted in the next 15 to 20 years in their pursuit of oil and gas.

Let us take a look at 5 of the leading global oil companies.

Saudi Arabian Oil Company

Saudi Aramco is the state-owned domestic oil company of the Kingdom of Saudi Arabia. Aramco is an acronym for the Arabian American Oil Company. It is probably the world's biggest company in terms of verified petroleum reserves and output. The company's headquarters is located in Dhahran, Saudi Arabia.

National Iranian Oil Company

The National Iranian Oil Company is believed to be the second biggest petroleum company in the world. It was founded in 1948 and is involved with the exploration, production and sales of petroleum and natural gas. Its main office is in Tehran, the capital of Iran.

Qatar Petroleum

Qatar Petroleum is presently the third largest oil company in the world because of its oil and gas stockpiles. It is situated in Qatar and is involved with the exploration, production, refinement and storage of petroleum.

Abu Dhabi National Oil Company

The Abu Dhabi National Oil Company is among the world's leading oil companies with major stockpiles. It is a state-owned company of the United Arab Emirates. It is a fully integrated company and their processes include all aspects of working in the petroleum industry.

Petróleos de Venezuela South America

Petróleos de Venezuela is a crude oil company owned by the Venezuelan state. It has activities in exploring, producing and exporting oil and natural gas. It predominates the oil business of the Republic of Venezuela.

Oil answers for a significant percentage of the world's energy needs. Crude oil is critical to numerous industries and is necessary to sustain an industrialized society.

Copyright 2008 - Dan Theron. All Rights Reserved Worldwide. Reprint Rights: You may reprint this article as long as you leave all of the links active, do not edit the article in any way, give author name credit and follow all of the EzineArticles terms of service for Publishers.

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