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.

Sinopec (China Petroleum & Chemical Corporation) is the leading global oil and gas company by revenues generated. In the 12-month period leading up to August 2025, the Chinese state-owned enterprise generated ************** U.S. dollars in revenues. State-owned enterprises are largest producers State-owned businesses are among the largest within the oil and gas industry. Saudi Arabia's Saudi Aramco is the leading oil company worldwide based on daily oil production, at over ********** barrels per day. This is significantly more than the daily output of ExxonMobil. At ************* barrels of crude oil per day, it is the largest producer among public companies not majority owned by any state. The United States-based oil and gas giant ExxonMobil generated *********** U.S. dollars in revenues in the 12 months leading up to August 2025, coming in third in this list. Diversification of oil & gas portfolios Due to growing investor pressure and judicial court rulings, some oil and gas companies have been incentivized to increase the share of non-fossil fuel assets in their portfolio. Their efforts have been supported by an increasing number of investment funds and asset managers, with more diverse companies also often ranking higher in terms of brand value. Many European oil majors have already begun looking for clean energy ventures where their expertise may help them gain footing fast, such as offshore wind and blue hydrogen. This is also reflected in a growing share of low-carbon investments in overall capex.

The average annual net income from the oil and gas industry worldwide is projected to decrease in the coming years. For instance, Saudi Arabia's oil and gas industry generated a net income of *** billion U.S. dollars in 2022, but this figure is expected to decline by some ** percent under a stated policies (STEP) scenario, and up to ** percent under a net-zero (NZE) scenario. The STEP scenario is based on current policies both already in place and under development while the NZE scenario assumes that the global energy sector will achieve net zero CO₂ emissions by 2050. Saudi Arabia is currently the second-largest crude oil producer worldwide, only behind the United States.

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.

This statistic depicts the revenues of the world oil and gas industry from 2009 to 2013. In 2009, the global oil and gas industry's total revenue totaled around 761 billion U.S. dollars. After this decrease in 2009, the revenue again increased steadily up to 1.23 trillion U.S. dollars in 2011. For 2013, the global total revenue of this industry stood at some 1.26 trillion dollars.

Global oil and gas production companies have gone through significant turbulence for most of the period. Revenue started off in a downturn amid the pandemic and its accompanying lockdowns, primarily the industry's largest market, the transportation sector, was limited. This was quickly reversed as the economy opened and supply outpaced demand, causing prices to skyrocket. High prices, accompanied by swelling production, led to surging revenue. This was further amplified by Russia's invasion of Ukraine, which forced many countries to put sanctions on Russia. With countries scrambling to find new suppliers, prices continued to shoot up in 2022. Nonetheless, prices eventually cooled back down later in the period, but still remained well above pre-pandemic levels. Overall revenue has pushed up at a CAGR of 11.7% to $4.0 trillion through the end of 2025, including a slight 7.3% dip in 2025 alone. Profit also surged as purchase costs came down. Emerging markets in BRIC nations, Southeast Asia and Africa continue to drive growth because of rapid industrialization and population increases, heightening the need for crude oil, natural gas and related downstream products. Even so, the gradual shift toward renewable energy poses challenges for producers, as many countries have implemented regulations and incentives to promote clean energy use. Geopolitical tensions and the uncertainties stemming from the global pandemic underscore the importance of diversifying supply sources to ensure energy security. Overall, industry revenue is set to push down at a CAGR of 2.5% to $3.6 trillion through the end of 2030. The bulk of this period will be highlighted by more efforts in oil and gas exploration and production in emerging markets, potentially transforming these regions into major global producers. Established countries will take this time to upgrade their technology and infrastructure to make production more efficient to keep profitability steady. Even so, the excess supply of oil and gas, combined with the push for sustainability, will drive prices down, leading to revenue contractions.

The US oil and gas production index measures the change in annual crude oil and natural gas production in the continental United States. Data for both commodities is sourced from the Energy Information Administration, and crude oil production volume has been converted to the equivalent measurement of natural gas. The base year of the index is 2000.

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.

The USA: Revenue minus production cost of oil, percent of GDP: The latest value from 2021 is 0.61 percent, an increase from 0.19 percent in 2020. In comparison, the world average is 2.69 percent, based on data from 181 countries. Historically, the average for the USA from 1970 to 2021 is 0.64 percent. The minimum value, 0.01 percent, was reached in 2015 while the maximum of 3.15 percent was recorded in 1980.

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).

This dataset contains Sales of Oil & Gas Products by Product and Emirate for- 2015-2020. Data from Federal Competitiveness and Statistics Authority. Follow datasource.kapsarc.org for timely data to advance energy economics research.

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.

Question 1.2.4c: Is the most recent publicly available data on tax and payment receipts disaggregated by payment type?, 2.1.4d: For the most recently completed fiscal year, did the government publicly disclose the total resource revenue received?

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.

Saudi Arabia: Revenue minus production cost of oil, percent of GDP: The latest value from 2021 is 23.69 percent, an increase from 15.98 percent in 2020. In comparison, the world average is 2.69 percent, based on data from 181 countries. Historically, the average for Saudi Arabia from 1970 to 2021 is 37.79 percent. The minimum value, 15.98 percent, was reached in 2020 while the maximum of 87.09 percent was recorded in 1979.

Oman Government Expenditure: Civilian: Oil Production data was reported at 329.000 OMR mn in 2017. This records a decrease from the previous number of 379.100 OMR mn for 2016. Oman Government Expenditure: Civilian: Oil Production data is updated yearly, averaging 119.300 OMR mn from Dec 1991 (Median) to 2017, with 27 observations. The data reached an all-time high of 484.600 OMR mn in 2014 and a record low of 76.200 OMR mn in 1991. Oman Government Expenditure: Civilian: Oil Production data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Oman – Table OM.F003: Government Revenue and Expenditure: Annual .

Key information about Syria Crude Oil: Production

• Syria Crude Oil: Production was reported at 32.112 Barrel/Day th in Dec 2022
• This records an increase from the previous number of 22.838 Barrel/Day th for Dec 2021
• Syria Crude Oil: Production data is updated yearly, averaging 1.532 Barrel/Day th from Dec 1960 to 2022, with 63 observations
• The data reached an all-time high of 13.643 Barrel/Day th in 1981 and a record low of 0.454 Barrel/Day th in 2004
• Syria Crude Oil: Production data remains active status in CEIC and is reported by Organization of the Petroleum Exporting Countries
• The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.OPEC.CO: Crude Oil Production: Yearly

Exxon Mobil was the leading oil and gas producing company worldwide by net income as of 12-month rolling data from August 2025. Many oil supermajors are among the most profitable oil and gas companies. Exxon Mobil's net income was highest in 2022, when it reached more than 50 billion U.S. dollars. Oil and gas industry The oil and gas industry is one of the largest industries worldwide. This sector is involved in exploration, extraction, refining, transport, and marketing of petroleum commodities. Many industries rely heavily on oil and gas products as fuels and feedstocks. It is no wonder then that oil and gas companies are regularly among the most profitable companies worldwide. State-owned enterprises are largest producers State-owned businesses are among the largest within the oil and gas industry. Saudi Arabia's Saudi Aramco is by far the leading oil company worldwide based on daily oil production, at over ********** barrels per day. ExxonMobil was the largest non-state-owned oil producer, at ************* barrels per day in 2024.