The 10 Largest Oil Companies in the World, From China to Saudi Arabia

Jakarta — Escalating conflict currently occurring in the Middle East region between Iran, the United States, and Israel is having a measurable impact on the global energy sector.

The potential for oil supply distribution disruptions due to tensions in strategic waterways, such as the Strait of Hormuz, is prompting investors to adjust their portfolio strategies, with increased scrutiny on the valuations of oil and gas companies.

Brent crude oil prices rose 7.4% to US$77.98 per barrel on Monday, 2 March 2026 at 1304 WIB.

Amid the dynamics of regional security uncertainty, energy company shares often become a hedging option for investors. Fundamentally, expectations of rising crude oil prices due to geopolitical risk premiums generally have a positive impact on increasing the market capitalisation of the oil and gas sector.

Based on latest market data, Saudi Aramco, the national oil company owned by Saudi Arabia, remains at the top position as the gas and oil entity with the largest market capitalisation in the world, with a market value of US$1.66 trillion.

Notably, despite the leading position held by the Middle Eastern nation, the top 10 list is actually dominated by corporations from the United States and China. The United States is represented by ExxonMobil, Chevron, and ConocoPhillips. China, on the other hand, places three of its giant companies—PetroChina, CNOOC, and Sinopec—within the global top 10 rankings. This data demonstrates that the stability of the global energy sector is not only supported by Gulf nations, but also by the resilience of corporations from developed nations.