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5 Largest Oil and Gas Companies’ 2020 Revenue Drops 30% Despite Posting $1 Trillion in Sales

Although the coronavirus pandemic heavily impacted the energy sector in 2020, some of the leading companies under the oil and gas category still posted impressive revenues. However, the companies are yet to hit their pre-pandemic levels as the economic recovery continues.

Data acquired by Finbold indicates that the five largest oil and gas companies recorded a cumulative revenue of $1.14 trillion in 2020, representing a loss of about 30.9% or $500 billion from the 2019 figure of $1.65 trillion.

PetroChina’s last year revenue stood at $280.7 billion, a drop of 19.28% from 2019’s figure of $347.8 billion. Elsewhere, Sinopec, also from China, ranked second with a 2020 revenue at $271.1 billion, a drop of 37.32% from 2019’s figure of $432.5 billion. Saudi Aramco is in the third spot, with 2019 revenue standing at $294.9 billion dropping 22.09% to $229.7 billion last year.

UK-based BP recorded the largest drop of revenue by 39.38%, from $297 billion to $180 billion between 2019 and 2020. ExxonMobil from the United States posted $275.5 billion in 2020 revenue dropping 35.30% to $178.2 billion in 2020.

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Source: PetroleumAfrica

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