Top 10 Best Oil Companies In Nigeria And Their Net Worth

Top 10 Best Oil Companies In Nigeria And Their Net Worth

Many oil and gas firms exist in. Some of these firms are indigenous while some are foreign companies with many branches in Nigeria.

Top 10 Best Oil Companies In Nigeria And Their Net Worth

Top 10 Best Oil Companies In Nigeria And Their Net Worth

On this article we want share with you in this article the top 10 oil and gas firms in Nigeria and their net worth.

1) ExxonMobil

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Net worth: $400.4 billion
This is an American based company with headquarters in Irving, Texas. They are founded in November 30th, 1999 through the merging together of Mobil and Exxon. It is the world’s fifth largest firm based on revenue and is the only second on the Fortune 500 list in the year 2014.

It’s daily production is 3.921 million. They top the list as the largest operating firm in Nigeria. They are a giant in oil and gas operations.

The firm has evolved from over 125 years from a regional seller of kerosene to the largest publicly traded energy firm on the planet. They use technology and innovative terms to solve energy terms. It also started with the sale of kerosene in the United States and they are now major players in the oil and gas sector.

2) Chevron

Net worth: $253.706
This is also an American based energy corporation. The headquarters of this firm is in San Ramon, California. They operate in up to 180 countries including Nigeria. They were ranked 3rd on the list known as the Fortune 500 list.

However this firm is not just focused on alternative power sources but also focused on oil and gas. This American firm is also other alternative energy activities that include solar, geothermal, wind power, hydrogen and fuel cells. The firm spent about $2 billion on acquisition and research on renewable ventures.

The merger between Texaco happened in the year 2000 and the firm purchased the Unocal Corporation for $18.4 billion in the year 2005. Chevron and the Los Alamos National Laboratory began a cooperation in the year 2006 to enhance hydrocarbons from oil shale.

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3) Shell

Net worth: $213.1 billion
This is also known as Royal Dutch Shell and their headquarters is in Netherlands. They were listed as the fourth largest firm on the planet in the year 2014. The oil and gas firm topped the 2013 list of Fortune 500 firms. They are a British Dutch multinational oil and gas firm with headquarters in the United Kingdom and Netherlands.

They are among the largest firms on the planet. They were formed in the year 1907 by the amalgamation of the Royal Dutch Company of the Netherlands and the Shell Transport and Trading Company of the United Kingdom. They have a primary hosting in the Nigerian Stock Exchange.

4) Stat Oil

Net worth: $155.5 billion
They are based in Stavanger in Norway. They operate in 36 countries including Nigeria. They are the 11th largest oil and gas firm in terms of the Forbes Magazine in the year 2013. Starting from the early 90s.

They have built a global system with strongholds in Africa, Europe, Brazil and North America. They have formed a portfolio that has solutions and they deliver wind power to up to 650000 British households. They are among the major key players in the oil and gas sector.

5) Total

Net worth: $120.2 billion
They are among the largest oil and gas producers in Nigeria. It produces only oil and they are also into chemical production, power generation and refunding among many other things. They are based in France. Their headquarters is in Paris.

The firm was formed after World War 1 when the Prime Minister of France rejected the concept of having a partnership with, Royal Dutch Shell in order to create an entirely French company.

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6) Conoco Philips

Net worth: $100 billion
The firm is a multi national oil and gas firm with headquarters in Houston, United States. It is a Fortune firm and have operations in Nigeria. They were also major key players in the oil and gas sectors of Nigeria. They operate in up to 17 countries and they are among the largest producers on the planet.

They started drilling in Alaska at the National Petroleum Reserve. Then they started oil production in the January 2015 from the Eldfisk II project in the North Sea. They now came down to Africa and had many bases.

7) Petrobas

Net worth: $73 billion
Petrobas is a Brazilian owned oil and gas firm that has operations across the planet and in Nigeria. The firm was formed in 1997. They are mainly focused in oil and gas bio fuels and other sources of energy.

They produce 2539 000 barrels of oil in one day. They are headquartered in Rio de Janeiro in Brazil. The firm functions in 6 areas which include production and exploration, transportation, refining and marketing, distribution, gas, power and biofuels. They operate in up to 16 countries in South Africa, North America etc

8) Nexen Inc

Net worth: $333 million
They are a Chinese based firm with their parent company as CNOOC Limited. It has 3 growth strategies which are oil exploration and development, oil sands and shale gas and the exploration of deep water. Nexen functions to develop resources in some of the most significant basins that include Western Canada, UK On North Sea, United States and offshore West Africa. The firm runs on clear principles.

9) Hardy Oil and Gas:

Net worth: £67, 619000
They are operational to raise the quantity of oil in the oil and gas reserves of Nigeria. They are based in the UK with London headquarters. They are among the top oil and gas firms in Nigeria.

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The firm was initially formed with the name Began Energy Limited in the year 1997 with the aim of developing an oil and gas exploration and production enterprise in India.

The management also aims to explore reasonable increase in energy demands in India that led to the liberation initiated by the Indian Government in the year 1991.

The firm acquired HEPI in September, 1991 from a branch of British-Borneo Oil and Gas PLC. The firm announced a discovery on the 8th of January 2007 in the Fan A-1 well. This firm made many discoveries between 2007 and 2010 and they are also major key players.

10) Addax Petroleum

Net worth: £17, 676,239
They were formed in the year 1994 and are a subsidiary firm known as Sinopec Group which is among the largest oil and gas producers in China. The firm have evolved over the years into an international firm with operations in the Middle East, Africa and the North Sea. They are among the biggest oil refiners in Asia and also the third largest across the globe. Their focus is mainly in the North Sea, Middle East and Africa. They are among the largest producers of oil in West Africa.

The firm was formed in 1987 and they embarked on an expansion program with the purpose of becoming a vertically oil firm with main focus on Africa. This have lead to the formation of Addax Petroleum in the year 1994. The daily production of the firm was in 2011. The firm has a predominant offshore and onshore fields with locations in Gabon, Cameroon and Nigeria.

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