Oil companies are rich; indeed they are. By mining and refining crude oil, or “black gold” as they call it, one can instantaneously go from rags to riches. There are many successful, influential and of course, wealthy oil companies in Asia, but a select few are able to capitalize the market as these guys did. In this issue, Top10 of Asia has a look at the 10 richest oil and gas companies that are here in Asia.
Talk about Asian petrochemical giants, here’s one that’s good to call “larger than life”. Known as Asia’s largest oil refiner, Sinopec group is still in control over majority of Chinese oil & gas business despite its senior officials being targeted by President Xi’s anti-corruption campaign. Talk about assets, Sinopec has $359.18 Billion in assets, further strengthening its position as one of the leaders in Asia’s oil and gas industry.
China National Offshore Oil Corporation (CNOOC)
CNOOC is China’s third largest home-grown oil company; and the company certainly lives up to its standards as one. With its exclusive rights to for drilling in the South China Sea, CNOOC is able to compete with its larger competitors in terms of costs; as the near-monopoly rights it has makes it all the less costly to carry out its operations offshore. CNOOC has $180.42 billion in assets; and that serves as their bragging rights.
China National Petroleum Corporation (CNPC)
Popularly known as the parent company of PetroChina, CNPC is one of the major forces in play in today’s oil and gas industry. Its strong presence globally and its strong political influence has contributed much to its size and reputation. And despite the anti-corruption crackdown and the volatile oil prices, CPC has $634.81 Billion worth of assets and the government to back it up.
SK Holdings is one of Korea’s biggest conglomerates. It is 62-years old and it is deeply rooted in Korea. Though the family-run business focuses primarily on oil and gas, SK group has its grips on other market areas as well such as batteries and telecommunications. Thanks to its bold decision to diversify, the company is there in Korea as its pride and joy. To date, SK Holdings own $84.62 Billion in assets.
The pride and joy of Malaysia, and the only Malaysian company to be on Fortune 500 list, Petronas is a name that’s no stranger; be it to the local Malaysians, or to the international oil and gas capitalists. Petronas has assets worth $153.78 Billion and bagged in $100.618 Billion in 2014; and the company carries out its operations outside of Asia as well, proving that it is indeed one of the larger powers at play in the global oil and gas industry.
The largest oil firm in Japan may have suffered last year due to the reducing oil demand from the nation and the volatile oil prices globally, but it is still standing tall and strong. The company has $61.91 Billion in assets and is the leader in the Japanese oil and gas industry; and it has 36% share of crude oil refining capacity to further strengthen its position.
PTT Public Company
The state owned PTT Public Company Ltd (PTT) comes in seventh place. Known as one of the largest oil companies in Thailand, the firm is still able to stand strong despite having difficulties meeting energy needs in its kingdom and the increased competition from overseas firms. The company has $50 Billion assets and it has diversified into other energy businesses; hence proving that the company is here to stay.
Indian oil is a government-controlled oil company based in Delhi. Known as India’s largest commercial company and India’s flagship oil company, Indian Oil covers almost half of the nation’s energy demands. The company is also a truly profitable one as its business interest stems in every aspects of the oil and gas value-chain. With $37.35 billion in assets and operations in India, Mauritius, UAE and Sri Lanka, Indian Oil is poised for great times and they will certainly be able to ride the economical storm.
Known as the second largest crude oil producer in Indonesia, Pertamina shows a lot to back up that title. With $50.37 Billion in assets, the company is able to carry out financially-risky oil exploration activities despite the slumping oil prices; proving that it still has a firm grip and confidence on Indonesia’s oil and gas industry. The state-owned company also has its eyes on $1.61 Billion profit this year; a bold company indeed.
Reliance Industries started off as a generic commercial company, and later turned out to be the second largest company in India thanks to diversification. The company first kicked off in 1960’s running polyester and textile businesses, but they gained success after they tapped the petrochemical market in 1993. The company is known as the second largest company in India right after the government-owned Indian Oil and it has $80.61 Billion in assets; a massive achievement from a company with humble beginnings.