The 7 companies with the largest oil reserves in the world

A select group of oil companies stands out from others through their dominance of proven oil reserves, a vital resource for the global economy.

by Banking and Business

From state-owned Saudi Aramco to Italian Eni, in this article we will explore seven (7) oil giants that control a significant amount of so-called black gold, making them major players on the global energy stage.

We start with Saudi Aramco, the state oil company in Saudi Arabia. This company controls oil and gas reserves worth 259 billion barrels, an unprecedented number in the world, which makes it boast a valuation of $1.8 trillion.

Oil kings
Saudi Aramco’s oil and gas reserves are more than four times those of the other six companies on the list combined, as illustrated by this infographic by Visual Capitalist’s Marcus Lowe, which shows each company’s proven reserves.

We cannot ignore the production of this state-owned company. Aramco currently produces about nine million barrels per day, more than any other company and nearly a tenth of global production.

If this number seems impressive to you, it must be added that it has the ability to increase it to about 12 million barrels per day, but for reasons related to belonging to OPEC, it is obliged to comply with its production cuts.

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