Byline: Katharina Buchholz
China's Sinopec Group ranks first on the list of the world's leading oil and gas companies of 2018 with revenues of more than US$420 billion, ahead of Shell and Saudi Aramco. According to company filings, U.S. oil and gas company Exxon Mobil ranked sixth that year, with a total 2018 revenue of some US$279 billion.
Three-digit billions in sales per year are not uncommon in the oil and gas industry. However, revenues are highly dependent on the development of crude oil prices on the world market. Sinopec, for example, has therefore integrated both the energy and chemicals businesses into its operations.
Saudi Arabian oil company Saudi Aramco is a...