Top 5 Highest-Earning Oil Companies in the World: Saudi Aramco Takes the Lead

Oil remains a highly sought-after commodity among many countries worldwide. It's no surprise that this fuel source often experiences fluctuating prices. Nevertheless, only a few oil companies control global production, reaping incredibly substantial profits.

According to Investopedia, here is a list of the top 5 highest-earning oil companies in the world as of February 2022:

1. Saudi Aramco - US$1.3 trillion (Rp18.740.2 trillion)
2. PetroChina Co. Ltd. - US$367 billion (Rp5.290.5 trillion)
3. China Petroleum & Chemical Corp. - US$353.2 billion (Rp5.091.6 trillion)
4. Exxon Mobil Corp. - US$280.4 billion (Rp4.042.1 trillion)
5. TotalEnergies SE - US$184.6 billion (Rp2.661.1 trillion)

Saudi Aramco secured the top spot as the world's highest-earning oil company, raking in US$1.3 trillion, or approximately Rp18.740.2 trillion, in revenue as of February 2022.

The Ghawar oil field, owned and operated by Saudi Aramco, is the world's largest oil field, boasting reserves (past and future) of 96 billion barrels.

The Ghawar oil field has contributed to more than half of Saudi Arabia's cumulative crude oil production since 1938.

(Read More: Saudi Aramco, the World's Largest Oil and Gas Company by Market Capitalization)