Petrochemical and gas products are the most significant source of energy in the globe and inevitably form a part of the lives of millions of people and millions of industries each day. For example, did you know that top 5 oil and gas companies produce over 56.6 million tonnes per day and that global oil reserves stand at 1.38 trillion tonnes and are expected to last another 46.2 years?
According to a recent article on ‘BBC’, available here, Gazprom is the biggest company in Russia, as well as the largest gas company on the planet. Its major business lines are geological exploration, production, transportation, storage, processing and sales of gas, gas condensate, and oil, as well as generation and marketing of heat and electric power. Controlled by the Kremlin, Gazprom's monopoly on gas deliveries to much of Europe provided President Vladimir Putin a prime lever for projecting power in the region. Gazprom's profits are more than $40 billion a year.
The largest of China's three state-controlled oil giants, ‘PetroChina’ also has the highest market cap of any of the publicly traded giants. The company already produces more oil than ExxonMobil, (American multinational oil and Gas Corporation)and considering the estimates of massive shale gas under China, could someday compete with ‘Gazprom’ as a regional gas power. To find out more about ‘PetroChina’ click here.
‘Total’ is French multinational oil and Gas Company and one of the five “Supermajor” oil companies in the world. Its businesses cover the entire oil and gas chain, from crude oil and natural gas exploration and production to power generation, transportation, refining, petroleum product marketing, and international crude oil and product trading. Also, according to gas and oil experts, click here for more information, ‘’Total’’ is also a large-scale chemicals manufacturer.
According to ‘Forbes’ magazine, production from Mexico's biggest field, Cantarell has plunged from 2 million tonnes per day to roughly 600,000. State-owned ‘’Pemex’’ is working to replace that shortfall with other fields. Mexico's incoming President Enrique Pena Nieto, has said reforming ‘’Pemex’’ to allow foreign investment will be his signature issue.
With an output of nearly 60 million barrels of oil every month, Petrobras is the largest overall company in Latin America. Over 80,000 people form the workforce of the company which is owned by the Govt of Brazil as a major shareholder.
In summary, oil is one of the most important raw materials we have. Tens of thousands of people work in the oil and gas industry, producing million pounds a day.