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.

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 22 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 10.3 million barrels of crude oil and associated liquids per day, more than three times that of its closest competitor. This vast output dwarfs that of shareholder-owned companies like ExxonMobil, which produces around three million barrels daily. The scale of state-controlled oil companies extends beyond production to reserves as well, with Saudi Aramco holding nearly 251 billion barrels of proved hydrocarbon reserves in 2023, over 10 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 50.3 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 4.8 billion U.S. dollars in 2024. In contrast, ExxonMobil allocated just 0.85 billion U.S. dollars to such initiatives, while Saudi Aramco's low-carbon investments remain limited to blue ammonia production and solar project investments.

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.

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).

Paz Oil Company reported ILS10.56B in Assets for its fiscal quarter ending in June of 2025. Data for Paz Oil Company | PZOL - Assets including historical, tables and charts were last updated by Trading Economics this last October in 2025.

Oil & Natural Gas Corporation stock price, live market quote, shares value, historical data, intraday chart, earnings per share and news.

Oil & Natural Gas Corporation reported INR24.28B in Selling and Administration Expenses for its fiscal quarter ending in June of 2025. Data for Oil & Natural Gas Corporation | ONGC - Selling And Administration Expenses including historical, tables and charts were last updated by Trading Economics this last October 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.

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.

Corporate Profits in China decreased to 0.90 CNY Million in August from 4020350 CNY Million in July of 2025. This dataset provides - China Corporate Profits- actual values, historical data, forecast, chart, statistics, economic calendar and news.

ExxonMobil ranks first among the United States' top ten oil and gas producing companies based on market capitalization. As of June 18, 2025, the Texas-based oil supermajor had a market cap of ****** billion U.S. dollars. ExxonMobil can not only trace its roots back to the early years of commercial oil production, it has also become one of the largest oil and gas companies in the world. It is active in all areas of the supply chain, from hydrocarbon extraction to retailing of gasoline. What is market cap? As opposed to sales or assets, market capitalization is a metric used to determine a company’s size by the worth of their outstanding shares on the stock market. ExxonMobil often ranks as the leading oil and gas company based on market cap worldwide. However, its net income is often significantly lower than that of state-owned entities such as Saudi Aramco. The differing ratios exemplify how market cap is not a hard figure like net profits, but inflates and fluctuates according to the perceived value of a company, influenced by less quantifiable factors. The role of oil and gas in the world economy The oil and gas industry is involved in exploration, extraction, refining, transport, and marketing of hydrocarbons. Many industries are extremely dependent on oil and gas products, mostly in the form of fuels or raw materials for chemical products. The oil and gas industry is one of the largest worldwide, and it would follow that companies involved within the industry are among the top companies worldwide by revenue.