STATE COMPANIES DOMINATE NON-U.S. OGJ100
Robert J. Beck
Economics Editor
Lou Ann Thrash
Director of Editorial Surveys
State owned oil and gas companies dominate the OGJ100 list of major non-U.S. holders of petroleum reserves.
Many state companies report only production and reserves information and do not report financial data. Therefore, the companies cannot be ranked by financial data, as they are in the OGJ300.
They instead are listed by region, based on location of companies' corporate headquarters.
The top 20 companies in crude oil production and reserves are shown (see table). The leading nongovernment company in both reserves and production is Royal Dutch/Shell Group--No. 11 in worldwide liquids reserves and No. 6 in liquids production.
Crude oil reserves of the top 20 companies moved up less than 1% last year, increasing 401.5 million bbl to 854.2 billion bbl. The year before, when there were substantial reserves adjustments, the top 20 posted an increase of 139.3 billion bbl.
The top 20 companies now control 85.5% of world proved oil reserves. This is up slightly from 85.2% last year.
Major international oil companies with headquarters in the U.S. are not included in the OGJ100. Several would rank in the top 20.
Exxon would rank No. 9 in worldwide liquids production and No. 14 in worldwide liquids reserves.
Other U.S. companies that would make the list of top oil producers are Chevron No. 14, Amoco No. 16, Texaco No. 17, ARCO No. 18, and Mobil No. 20.
No other companies on the OGJ300 list would make the top 20 worldwide in terms of liquids reserves.
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