According to the sources, according to the data compiled by the Anadolu news agency, the total revenue of the world’s largest oil companies, including large oil companies, Saudi Aramco, Russia’s largest oil producer and the largest oilfield service provider, has dropped from US $2.02 trillion in 2019 to US $1.3 trillion in 2020, a drop of 35.4%.
The agency analyzed the financial statements of 14 largest companies – ExxonMobil, Chevron, ConocoPhillips, Halliburton, Schlumberger, Baker Hughes, shell, BP, total, Eni, equinor, Lukoil, Rosneft and Saudi Aramco.
According to the Anadolu news agency, shell’s revenue fell the most, by 48%, while BP, Saudi Aramco and ExxonMobil’s revenue fell by more than 30% in 2020 compared with 2019.
Last year’s slump in oil prices and demand hit the revenues and profits of all oil companies, as both the upstream and downstream sectors were affected by a pandemic driven crisis.
For example, Exxon and Exxon suffered losses for the first time since 1999.
BP also reported a huge loss of $5.7 billion in 2020 and a profit of $10 billion in 2019.
Total reported a net loss of $7.2 billion in 2020, down from a profit of $11.27 billion in 2019, and said it would change its name to total energy to reflect its shift to renewable energy.
Shell turned a loss into a profit last year, but it dropped 87% compared with 2019.
In 2020, Saudi Aramco’s net profit fell 44% year-on-year to $49 billion, but its annual dividend remained at $75 billion.