CRUDE OIL EXPORT IMPORT STATISTICS AND BIGGEST OIL COMPANIES

BIGGEST OIL COMPANIES

Oil is the third most exporting product all over the world. According to international trade statistics, international oil sales amount is more than 2 trillion USD per year. Its clear that the industrial countries are the big importers because of fuel and energy needs. Its a big industry and directly effects Thousands of different products in different sectors.

National Oil Companies

Goverment agencies authorized for commercial activities related to oil and petroleum products are called National Oil Companies (NOC) and have a certain administrative structure and specialized personnel required by the sector, such as any International Oil Company (IOC). The biggest difference is that the IOCs publish their earnings reports and have stockholders.

The ten largest NOCs in the world in terms of reserve size are listed in the table below. The figures in the table below are based on liquid petroleum export data

Most of these countries do not disclose earnings from oil sales, so it is relatively difficult to judge on income basis. However, the comparison of the size of reserves with IOCs should provide a rough estimate of potential revenues.


Company Name
Company base
 Oil Reserve (billion USD)
Suudi Armaco
Suudi Arabistan - Orta Doğu
303
Ulusal İran Petrol Şirketi
İran - Orta Doğu
300
Quatar Petrolü
Quatar - Orta Doğu
170
Irak Ulusal Petrol Şirketi
Irak - Orta Doğu
134
Petroleos de Venezuela
Venezuela - Güney Amerika
129
Abu Dabi Ulusal Petrol Şirketi
Abu Dabi - Orta Doğu
126
Kuveyt Petrol Şirketi
Kuveyt - Orta Doğu
111
Nijerya Ulusal Petrol Şirketi
Nijerya - Afrika
68
Libya NOC
Libya - Afrika
50
Sonatrach
Cezayir - Afrika
39



History of National Oil Companies

At the beginning of the 20th century, the IOCs were the main producers worldwide. In the last 50 years, National Oil Companies NOCs have been established in many countries with large oil reserves. This trend took place for two reasons.

The first reason for the establishment of NOCs is political change. Most of the countries with large oil reserves were either the colonies of the imperialist countries in which the IOCs were initially established, or were controlled by the governments under their control. As the colonial system came to an end and the nation states began to grow, the dominance of the IOCs on oil production in these countries decreased.

Many military dictators in the Middle East, Africa and South America have implemented pressure regimes in their countries with the support of various countries, including the United States and the multinational oil companies, who want to keep the oil under control. Although it is an important source of income for these countries, oil has always caused the people to be exposed to poor and democratic rights because of the dictatorial or monarchical rule that acts under the control of foreign powers.


BIGGEST OIL COMPANIES


Establishment of OPEC

Another reason for the rise of NOCs is the industrial progress. Many of the oil-rich countries have benefited from their enormous natural resources to negotiate profitable contracts with the IOCs for extraction and development. In 1960, OPEC was established with the international oil companies, as well as the political forces of the oil importing countries, as defined by the abbreviation of the Organization of Petroleum Exporting Countries or the Petroleum Exporting Countries for the control of oil prices, which fell apart from the oil-producing countries' initiatives.

It was a direct response to the bargaining power of the IOCs. Like a gigantic union, OPEC allowed oil-rich countries to exert more pressure on IOCs to offer price concessions. The development of their own means of oil extraction and refining has also reduced the dependence on Multinational oil companies.

OPEC Member Countries

Algeria, Angora, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela


Top Oil Exporter Countries

When 2018 oil export datas examined, its clearly see that the oil production and international trade is increasing. Russia increase oil exports %35 and Canada increase %20. US also increase its totall export capacity more than %55. By the way we couldnt see whole picture cause oil international trade statistics not ready for 2018 complately.

According to 2017 data, approximately 40% of the world's oil exports are carried out by Middle Eastern countries. 80% of the world's oil exports are carried out by 15 countries listed below
  1. Saudi Arabia: USD 133.62 billion (15.9% of world total crude oil exports)
  2. Russia: $ 93.30 billion 
  3. Iraq: $ 61.46 billion 
  4. Canada: $ 53.96 billion 
  5. United Arab Emirates: $ 49.31 billion 
  6. Iran: $ 40.12 billion 
  7. Kuwait: 38.16 billion dollars 
  8. Nigeria: $ 32.96 billion 
  9. Angola: $ 30.55 billion 
  10. Kazakhstan: 26.58 billion 


Top Oil Importer Countries

  1. China: $ 163,8 billion 
  2. USA: $ 139,3 billion 
  3. India: $ 82 billion 
  4. Japan: $ 63,7 billion 
  5. Korea republic: $ 59,5 billion 
  6. Germany: $ 36,2 billion 
  7. Netherland: 28,3 billion 
  8. Italy: $ 26 billion 
  9. Spain: $ 25,6 billion 
  10. France: $ 23,8 billion  

The Biggest Oil Companies

According to the 2018 Forbes Global 2000 ranking, the following oil and gas companies are among the world's top 10 oil companies:
  • Royal Dutch Shell (Netherlands)
  • Exxon Mobile (United States)
  • Chevron (United States)
  • Total (France)
  • Sinopec - PetroChina (China)
  • BP (United Kingdom)
  • Gazprom (Russia)
  • Rosneft (Russia)
  • Reliance (India)
  • Petrobras (Brazil)

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