The oil industry was hammered in 2020, and the coronavirus epidemic is still wreaking havoc. As governments begin to vaccinate their populace and companies reopen, oil investors are optimistic. For the first time since late 2019, the International Energy Agency predicts oil consumption to reach 100.6 million barrels. The oil business is projected to survive for years to come, despite the worldwide push toward renewable energy and price swings. The oil and gas business supports almost 6 million jobs in the United States, accounting for around 5.6 percent of total employment.
Insider Monkey takes a look at the companies dominating one of the cornerstones of the American economy, starting with number 15: The largest refinery in the state of Hawaii is owned by Par Pacific. The company intends to generate billions in revenue over the next five years. Devon Energy’s oil reserves are currently estimated to be around 752 million barrels. Over the years, it has been involved in a number of acquisitions totaling multiple tens of billions of dollars. Devon Energy is one of the world’s largest energy corporations, having been created in 1971. Chesapeake Energy is a major energy company in the United States. The company generates around 445,000 barrels of oil per day and is the world’s 90th most polluting company. It has 2,300 employees and was started 32 years ago in Oklahoma City, Oklahoma. Delek US Holdings, the 20-year-old corporation which is located in Tennessee and was founded in 2001, is a diversified downstream energy company. Pioneer is a major oil company in the United States. The corporation now has oil reserves of around 1.2 billion barrels. Pioneer employs 2,323 people and is situated in Irving, Texas. In 2019, it is predicted to generate billions in sales. PFB Energy is one of the more recent additions to the list, having been established only 13 years ago in 2008. In the last decade, the company has developed at a rapid pace, employing more than employees. In 2019, PFB Energy will mark its tenth anniversary. The world’s largest independent oil and gas company, HollyFrontier, was founded in 1947, 74 years ago. For more details, click 15 Biggest Oil Companies in USA.