Forbes put 93 oil and gas companies on its Global 2000 list of the world's biggest public companies. The ranking uses sales, profits, assets and market value to measure company size. JPMorgan leads the list for three straight years. Saudi Aramco sits at number four after falling one spot from last year. Amazon and Microsoft also stay near the top.
More than half the oil and gas companies lost ground compared to last year's rankings. Lower oil prices and weak refining profits hurt most energy firms over the past year. BP fell 374 spots to number 421 on the new list. American refiners PBF Energy and HF Sinclair also dropped hundreds of positions from their previous rankings.
Three new oil and gas companies joined the Forbes list this year. Prio represents Brazil's largest independent oil producer. Venture Global exports liquefied natural gas from America. Permian Resources focuses on drilling in Texas oil fields and ranks at number 1762.
Venture Global raised $1.75 billion during its public stock offering earlier this year. The company doubled its first quarter revenue to $2.9 billion compared to the same period last year. Permian Resources generated $460 million in free cash flow during the first quarter. The Texas company also bought more drilling rights in New Mexico.
More than half the oil and gas companies lost ground compared to last year's rankings. Lower oil prices and weak refining profits hurt most energy firms over the past year. BP fell 374 spots to number 421 on the new list. American refiners PBF Energy and HF Sinclair also dropped hundreds of positions from their previous rankings.
Three new oil and gas companies joined the Forbes list this year. Prio represents Brazil's largest independent oil producer. Venture Global exports liquefied natural gas from America. Permian Resources focuses on drilling in Texas oil fields and ranks at number 1762.
Venture Global raised $1.75 billion during its public stock offering earlier this year. The company doubled its first quarter revenue to $2.9 billion compared to the same period last year. Permian Resources generated $460 million in free cash flow during the first quarter. The Texas company also bought more drilling rights in New Mexico.
