In this article, we’ll explore the 5 most valuable gas companies in the world. If you want to explore more about the current dynamics of a global shift in how energy impacts the climate and how major industry players are responding to this challenge, then check out our detailed section of 20 Most Valuable Gas Companies in the World.
5. PetroChina Company Limited (OTC:PCCYF)
Market Cap: $182.8 Billion
Established on November 5, 1999, PetroChina Company Limited is a multinational oil and gas company based in China. It operates from its headquarters in Dongcheng District, Beijing. Notably, PetroChina stands as Asia’s largest producer of oil and gas. In a move reflecting a commitment to lower-carbon investments, on September 2023, PetroChina, acquired the entirety of Potevio New Energy Co Ltd, an electric vehicle (EV) charging firm, according to a statement from its parent company, CNPC.
4. Shell plc (NYSE:SHEL)
Market Cap: $224.813 billion
Based in London, England, Shell plc, a British multinational oil and gas company, is dedicated to delivering energy solutions that address the global demand for energy and facilitate the shift toward a low-carbon economy. According to recent reports from Reuters, Shell’s CEO Wael Sawan has opted to prioritize fossil fuels over less profitable low-carbon activities.
Despite a 33% decline in the third-quarter adjusted net profit to $6.2 billion, this strategic shift has protected Shell from challenges encountered by European counterparts BP and Orsted in the wind energy sector. Sawan has concurrently increased the company’s quarterly buyback plan while significantly curtailing expenditures on environmentally friendly initiatives, encompassing wind, solar, hydrogen, and carbon capture and storage. Shell’s emphasis on fossil fuels is regarded as a response to fluctuating energy prices. The report suggests that Shell’s current strategy is effective, but its long-term success hinges on the sustained high prices of energy.
3. Chevron Corporation (NYSE:CVX)
Market Cap: $279.662 billion
Chevron Corporation (NYSE:CVX) is dedicated to addressing the increasing global energy demand through activities such as oil and natural gas exploration, gasoline refining and marketing, chemical production, and the pursuit of innovative energy sources. Chevron Corporation (NYSE:CVX)’s Chairman and CEO, Mike Wirth, has recently announced a commitment of $10 billion towards lower carbon investments and projects by 2028.
2. Exxon Mobil Corporation (NYSE:XOM)
Market Cap: $419.07 Billion
With a market capitalization of $419.07 billion, Exxon Mobil Corporation (NYSE:XOM) is recognized as a robust value stock, attributed to its ownership of highly productive upstream assets worldwide and its dedication to technology and innovation. On November 2, 2023, Exxon Mobil Corporation (NYSE:XOM) successfully finalized the acquisition of Denbury Resources, a U.S.-based oil and gas company, projecting an improvement in its low-carbon solutions segment. The company is actively engaged in acquiring businesses and expanding its operations.
1. Saudi Arabian Oil Company (SAUDI:2222.SR)
Market Cap: $2.1 Trillion
The Saudi Arabian Oil Company, commonly known as Saudi Aramco, is acknowledged as the world’s most valuable gas company, boasting a current market capitalization of $2.1 trillion. This impressive valuation is primarily rooted in the company’s extensive oil reserves, recognized as the largest globally. In September 2023, Saudi Aramco disclosed its intention to divest approximately 1.5% of its shares the subsequent month. Additionally, the company is actively investing in clean energy initiatives, including projects focused on hydrogen production and carbon capture.
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