Biggest oil and gas companies based on market value 2017
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Largest publicly traded international oil and gas company Oil is a name used to describe the world's six or seven largest publicly traded oil and gas companiesalso known as supermajors. The term, analogous to others, such as Big Steel largest publicly traded international oil and gas company, that describe industries dominated by a few giant corporations, was popularized in print from the late s. In the maritime industry, six to seven large oil companies that decide a majority of the crude oil tanker chartering business are called "Oil Majors".
The history of the supermajors traces back to the " Seven Sisters ", the seven oil companies which formed the " Consortium for Iran " cartel and dominated the global petroleum industry from the mids to the s. The supermajors began to emerge in the lates, in response to a severe fall in oil prices. Large petroleum companies began to merge, often in an effort to improve economies of scalehedge against oil price volatilityand reduce large cash reserves through reinvestment.
This largest publicly traded international oil and gas company of consolidation created some of the largest global corporations as defined by the Forbes Global ranking, and as of all were within the top Trading under various names around the world, the supermajors are considered to be: ConocoPhillips Company United States was also sometimes described as forming part of the group,  before largest publicly traded international oil and gas company Downstream activities spin-off.
As of ExxonMobil ranked first among the supermajors measured by market capitalization, cash flow and profits. Petroleum and gas supermajors are sometimes collectively referred to as "Big oil", a term that emphasizes their economic power and perceived influence on politics, particularly in the United States.
Big oil is often associated with the fossil fuels lobby. Usually used to refer to the industry as a whole in a pejorative or derogatory manner, "Big oil" has come to encompass the enormous impact crude oil exerts over first-world industrial society.
In the maritime industry, a group of six companies that control the chartering of the majority of oil tankers worldwide are together referred to as "Oil Majors". From Wikipedia, the free encyclopedia. Retrieved 28 April The New York Times. Oil companies may rank as some of the biggest private-sector corporations, but when it comes to oil Some thought that largest publicly traded international oil and gas company oil companies got rich from the Raw Materials Investments and Nixon's campaigns were partly financed by oil money, and his Secretary of the Interior, Walter Hickel, was an A - C - Volume 1 - Page Charles Wankel - The older term Big Oil, used in reference to the cooperative behavior and lobbying of oil companies, is often used now to refer specifically to the supermajors.
Each supermajor has revenues in the hundreds of billions of dollars, benefiting from An A-to-Z Guide - Page Dustin Mulvaney - "the oil majors have the power to manipulate oil prices, profiteering at the expense of consumers in North America and Europe.
Petroleum in World History Brian C. Black - "Therefore, Big Oil included large-scale corporate infrastructure that spanned the globe without ever releasing the basic elements that titillated the public: Today, the term Big Oil most likely evokes a negative visceral However, while some of those companies are indeed among the largest in the Retrieved 20 November Retrieved 6 December The Seven Sisters Still Rule".
Retrieved 24 October NewsHour with Jim Lehrer. The Times South Africa. Retrieved 26 October Archived from the original on 22 December Retrieved 20 Jan Law and the sea. Acronyms Oil shale gas Peak oil mitigation timing People Petrocurrency Petrodollar recycling Shale band Shale gas Swing producer Unconventional oil heavy crude oil sands oil shale.
China National Offshore Oil.