Robert J. Beck
Associate Managing Editor -- Economics
Michelle Williamson
Survey Editor
The OGJ100, (51144 bytes) which lists major non-U.S. oil and gas companies, usually has fewer changes than its U.S. counterpart. This year is no exception.
State-owned companies continue to dominate the list. And rankings of companies not owned wholly by governments changed very little.
Since many state-owned oil and gas companies report only production and reserves information and do not report financial data, OGJ100 companies are not ranked by assets or revenues but instead are listed by region based on the location of corporate headquarters.
The leading nongovernment company in both reserves and production is Royal Dutch/Shell -- No. 6 in liquids production and No. 12 in liquids reserves. Shell occupied the same positions on last year's OGJ100.
British Petroleum is the next largest nongovernment company. BP ranks 12th in liquids production and 18th in liquids reserves.
Also among production leaders are Elf Aquitaine of France, which is 55.8% government-controlled, No. 16 in liquids production; Total of France, No. 19 in liquids production; and AGIP of Italy, No. 20 in liquids production.
In 1994 the top 20 producers outside of the U.S. had crude production averaging 36.8 million b/d -- 60.9% of total world production. In 1993 the top 20 produced 36.4 million b/d, which represented 60.8% of total world output.
There were no changes in the companies that represented the top 20 in terms of crude oil reserves. The total crude reserves for these companies was 868.5 billion bbl, down from 872.3 billion bbl in 1993. The top 20 posted reserves of 869.3 billion bbl in 1992, 869.5 billion bbl in 1991, and 854.2 billion bbl in 1990.
Based on the latest OGJ estimates of worldwide reserves, the top 20 OGJ100 companies now control 86.9% of total world crude oil reserves. This is down slightly from 87.3% of the total world crude oil reserves in 1993. The top 20 companies had 87.2% of total world oil reserves in 1992, 87.7% in 1991, and 85.5% in 1990.
The crude oil reserves to production ratio for the top 20 was 64.6 years in 1994 compared with 65.7 years in 1993.
The major U.S. international oil companies headquartered in the U.S. are not included in the OGJ100 list, but several of the companies would rank in the top 20. Exxon would rank 10th in worldwide liquids production and 13th in worldwide liquids reserves. Chevron would rank 14th in production and 20th in reserves. Other U.S. companies that would make the list of top oil producers in the world are, Mobil 15th and Texaco 16th.
No other companies on the OGJ300 list would make the list of the top 20 companies worldwide in terms of liquids reserves.
OGJ100 spread sheet (183323 bytes)OGJ100 spread sheet (179496 bytes)Copyright 1995 Oil & Gas Journal. All Rights Reserved.
