Apart from BP, the net income of major oil and gas companies in the first quarter of 2025 decreased across the board. However, all companies were able to turn a profit this quarter despite economic uncertainty and lower than expected crude prices. Saudi Aramco continues to dominate the sector, with net earnings exceeding ** billion U.S. dollars. This performance underscores the continued financial strength of state-owned oil enterprises in a volatile global energy market. State-owned giants lead production and profits Saudi Aramco's financial dominance is rooted in its unparalleled production output. The company extracts approximately **** million barrels of crude oil and associated liquids per day, more than ***** times that of its closest competitor. This vast output dwarfs that of shareholder-owned companies like ExxonMobil, which produces around ***** million barrels daily. The scale of state-controlled oil companies extends beyond production to reserves as well, with Saudi Aramco holding nearly *** billion barrels of proved hydrocarbon reserves in 2023, over ** times ExxonMobil's reported reserves. Shifting strategies in a changing industry As the oil and gas sector faces pressure to adapt to climate concerns, companies are diversifying their portfolios. Shell has maintained the highest brand value among oil and gas companies, estimated at **** billion U.S. dollars in 2024, partly due to its increased focus on low-carbon investments. TotalEnergies is leading the supermajors in capital expenditure on renewables and other low-carbon sources, spending *** billion U.S. dollars in 2024. In contrast, ExxonMobil allocated just **** billion U.S. dollars to such initiatives, while Saudi Aramco's low-carbon investments remain limited to blue ammonia production and solar project investments.

In 2024, the total revenue of the United States’ oil and gas industry came to ******billion U.S. dollars. That was a decrease from the previous year, when U.S. oil and gas reached *** billion U.S. dollars. Figures peaked in 2022 as a result of decade-high oil and gas prices. The advent of shale oil and gas Following the financial crisis, investors in the U.S. sought to increase domestic production and reduce dependence on foreign oil and gas in turbulent international markets. Despite high start-up costs, shale gas and tight oil became economically viable to extract as the result of new methods such as hydraulic fracturing (also known as fracking). Production expanded rapidly in states with large permeable rock formations of sandstone, such as Texas and North Dakota. Changes in future shale production In addition to global market developments that impact short-term demand and prices, the trajectory of gross output in the oil and gas extraction industry largely precipitates the changes in U.S. oil revenue seen here. Going forward, production of U.S. shale gas and tight oil is expected to see only a moderate increase until 2050.

Graph and download economic data for Corporate profits before tax: Domestic industries: Mining: Oil and gas extraction (N3007C0A144NBEA) from 1998 to 2021 about extraction, corporate profits, mining, oil, gas, tax, domestic, corporate, industry, GDP, and USA.

The oil and gas industry has brought in over a trillion U.S. dollars in annual profits for much of the past decade. Despite a decrease in 2020 when the coronavirus pandemic reduced fuel demand, oil & gas profits have remained high. A peak of over ************ U.S. dollars was reported in 2008, 2011 and 2012. The figures reflect profits less costs of production and translate into *********** U.S. dollars of daily profits over the past 50 years.

Income statement and balance sheet for the oil and gas extraction sector (formerly known as conventional) and the oil sands sector (formerly known as non-conventional).

Total-Revenue Time Series for Murphy Oil Corporation. Murphy Oil Corporation, together with its subsidiaries, operates as an oil and gas exploration and production company in the United States, Canada, and internationally. It explores for and produces crude oil, natural gas, and natural gas liquids. The company was formerly known as Murphy Corporation and changed its name to Murphy Oil Corporation in 1964. Murphy Oil Corporation was incorporated in 1950 and is headquartered in Houston, Texas.

ExxonMobil reported a net income of over ** billion U.S. dollars in 2024. The only year in the period of consideration that ExxonMobil ended the year on a net loss was in 2020. This was the result of lower transportation fuel demand and a dramatic fall in oil prices following the spread of the coronavirus pandemic. ExxonMobil's origin story ExxonMobil is a United States-based oil and gas company founded in 1999 through the merger of two companies and is considered one of the Big Oil supermajors. Headquartered in Texas, it has been one of the world’s largest oil and gas companies based on net income. Like its competitors Marathon Petroleum and Chevron, ExxonMobil is derived from John D. Rockefeller’s Standard Oil Company, the first U.S. oil monopoly, which was declared illegal and subsequently dissolved in 1911. ExxonMobil's net income by segment ExxonMobil is made up of three divisions: upstream, product solutions (combining downstream and chemical), and low-carbon solutions. In previous years, more than half of the company's net income came from their upstream segment, which consists of oil exploration, shipping, extraction, and wholesale operations. By comparison, their product solutions segment consists of marketing, refining, and retail operations for petroleum, chemical, and specialty products.

Paz Oil Company reported ILS598M in Gross Profit on Sales for its fiscal quarter ending in December of 2024. Data for Paz Oil Company | PZOL - Gross Profit On Sales including historical, tables and charts were last updated by Trading Economics this last November in 2025.

Enbridge Incorporated is the largest oil and gas company based in Canada. In the 12-month period leading up to June 2025, it had generated a revenue of 32.86 billion U.S. dollars. This was over 10 percent more than the amount generated by Cenovus Energy. Cenovus Energy is based in Alberta and parent company to another large hydrocarbon producer - Husky Energy.

The average for 2021 based on 181 countries was 2.69 percent. The highest value was in Libya: 56.38 percent and the lowest value was in Antigua and Barbuda: 0 percent. The indicator is available from 1970 to 2021. Below is a chart for all countries where data are available.

Paz Oil Company reported ILS211M in Operating Profit for its fiscal quarter ending in June of 2025. Data for Paz Oil Company | PZOL - Operating Profit including historical, tables and charts were last updated by Trading Economics this last December in 2025.

Russia Federal Government Revenue: Oil & Gas data was reported at 1,081.300 RUB bn in Mar 2025. This records an increase from the previous number of 771.300 RUB bn for Feb 2025. Russia Federal Government Revenue: Oil & Gas data is updated monthly, averaging 519.726 RUB bn from Dec 2005 (Median) to Mar 2025, with 230 observations. The data reached an all-time high of 1,812.372 RUB bn in Apr 2022 and a record low of 164.633 RUB bn in Feb 2009. Russia Federal Government Revenue: Oil & Gas data remains active status in CEIC and is reported by Ministry of Finance of the Russian Federation. The data is categorized under Global Database’s Russian Federation – Table RU.FB006: Federal Government Revenue and Expenditure: General.

Paz Oil Company reported ILS285M in Pre-Tax Profit for its fiscal quarter ending in June of 2024. Data for Paz Oil Company | PZOL - Pre Tax Profit including historical, tables and charts were last updated by Trading Economics this last December in 2025.

Gross-Profit Time Series for APA Corporation. APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally. APA Corporation was incorporated in 1954 and is headquartered in Houston, Texas.

Total-Revenue Time Series for Occidental Petroleum Corporation. Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. The Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates, and calcium chloride; and vinyls comprising vinyl chloride monomer, polyvinyl chloride, and ethylene. The Midstream and Marketing segment purchases, markets, gathers, processes, transports and stores oil, condensate, NGLs, natural gas, carbon dioxide, and power. This segment invests in entities. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.

Total-Revenue Time Series for Baker Hughes Co. Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations. This segment also provides drilling services, drill bits, and drilling and completions fluids; completions, intervention, measurements, pressure pumping, and wireline services; artificial lift systems, and oilfield and industrial chemicals; subsea projects and services, flexible pipe systems, and surface pressure control systems; and integrated well services and solutions. It serves oil and natural gas companies; the United States and international independent oil and natural gas companies; national or state-owned oil companies; engineering, procurement, and construction contractors; geothermal companies; and other oilfield service companies. The IET segment provides gas technology equipment, including drivers, driven equipment, and turnkey solutions for the mechanical and electric-drive, compression, and power-generation applications; and energy sectors, such as oil and gas, LNG operations, petrochemical, and carbon solutions. This segment also provides rack-based vibrating monitoring equipment and sensors; integrated asset performance management products; inspection services; pumps, valves, and gears; precision sensors and instrumentation, and condition monitoring solutions. It serves upstream, midstream, downstream, onshore, offshore, and small-to-large scale customers. The company was formerly known as Baker Hughes, a GE company and changed its name to Baker Hughes Company in October 2019. Baker Hughes Company was incorporated in 2016 and is based in Houston, Texas.

Retained-Earnings Time Series for Marathon Petroleum Corp. Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company in the United States. The company operates through three segments: Refining & Marketing; Midstream; and Renewable Diesel. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products through transportation, storage, distribution, and marketing services. Its refined products include transportation fuels, such as reformulated gasolines and blend-grade gasolines; heavy fuel oil; and asphalt. This segment also manufactures propane and petrochemicals. It sells refined products to wholesale marketing customers in the United States and internationally, buyers on the spot market, and independent entrepreneurs who operate primarily Marathon branded outlets, as well as through long-term fuel supply contracts to direct dealer locations primarily under the ARCO brand. The Midstream segment gathers, transports, stores, distributes, and markets crude oil and refined products, including renewable diesel and other hydrocarbon-based products through refining logistics assets, pipelines, terminals, towboats, and barges; gathers, processes, and transports natural gas; and transports, fractionates, stores, and markets natural gas liquids. The Renewable Diesel segment processes renewable feedstocks into renewable diesel, markets, and distributes renewable diesel through its Midstream segment and third parties. It sells renewable diesel to wholesale marketing customers, buyers on the spot market, and through long-term supply contracts to direct dealers under the ARCO brand. Marathon Petroleum Corporation was founded in 1887 and is headquartered in Findlay, Ohio.

Net-Profit-Margin Time Series for Energean Oil & Gas PLC. Energean plc engages in the exploration, production, and development of oil and gas. It operates through Europe, Israel, and New Ventures segments. The company's flagship project is the 100% owned Karish and Karish North projects located in Israel. It also offers financing services; carbon capture storage; and holds a gas transportation license. The company was formerly known as Energean Oil & Gas plc and changed its name to Energean plc in May 2020. Energean plc was founded in 2007 and is based in London, the United Kingdom.

Gross-Profit Time Series for Fuji Oil Co Ltd. Fuji Oil Co., Ltd. manufactures and sells food and processed soybean ingredients in Japan, the Americas, Europe, Southeast Asia, and China. The company operates through the Vegetable Oils and Fats, Commercial Chocolate, Emulsified and Fermented Ingredients, and Soybean Processed Ingredients segments. It offers hard butter for chocolate, confectionery oils and fats, frying and spraying oils, fats for frozen confectionery, emulsified oils and fats, powdered oils and fats, and lubricating/releasing oils. The company also provides industrial chocolates, including couverture chocolates, chocolates for ice cream coating and bread, chocolate chips, and stick chocolate for confectionery and bakery items; creams, fillings, margarine, soymilk products, and cheese-flavored ingredients; and soy-based ingredients consisting of soy protein ingredients, soy protein products, and soluble soy polysaccharides. It serves manufacturers of distribution confections, frozen confections, dairy products, processed foods, and instant noodle dishes; convenience stores, supermarkets, other distributors, privately-owned pastry and bread stores, and restaurant chains; manufacturers of processed foods, beverages, and health food; and restaurants and pastry shops. The company was formerly known as Fuji Oil Holdings Inc. and changed its name to Fuji Oil Co., Ltd. in April 2025. Fuji Oil Co., Ltd. was incorporated in 1950 and is headquartered in Osaka, Japan.