Largest publicly traded international oil and gas company
Large petroleum companies began to merge, often in an effort to improve economies of scale , hedge against oil price volatility , and reduce large cash reserves through reinvestment. This process of consolidation created some of the largest global corporations as defined by the Forbes Global ranking, and as of all were within the top Trading under various names around the world, the supermajors are considered to be: ConocoPhillips Company United States was also sometimes described as forming part of the group,  before the Downstream activities spin-off.
As of ExxonMobil ranked first among the supermajors measured by market capitalization, cash flow and profits. Petroleum and gas supermajors are sometimes collectively referred to as "Big oil", a term that emphasizes their economic power and perceived influence on politics, particularly in the United States.
Big oil is often associated with the fossil fuels lobby. Usually used to refer to the industry as a whole in a pejorative or derogatory manner, "Big oil" has come to encompass the enormous impact crude oil exerts over first-world industrial society.
In the maritime industry, a group of six companies that control the chartering of the majority of oil tankers worldwide are together referred to as "Oil Majors". From Wikipedia, the free encyclopedia. Retrieved 28 April The New York Times. Oil companies may rank as some of the biggest private-sector corporations, but when it comes to oil Some thought that the oil companies got rich from the Raw Materials Investments and Nixon's campaigns were partly financed by oil money, and his Secretary of the Interior, Walter Hickel, was an A - C - Volume 1 - Page Charles Wankel - The older term Big Oil, used in reference to the cooperative behavior and lobbying of oil companies, is often used now to refer specifically to the supermajors.
Each supermajor has revenues in the hundreds of billions of dollars, benefiting from An A-to-Z Guide - Page Dustin Mulvaney - "the oil majors have the power to manipulate oil prices, profiteering at the expense of consumers in North America and Europe. Petroleum in World History Brian C. Black - "Therefore, Big Oil included large-scale corporate infrastructure that spanned the globe without ever releasing the basic elements that titillated the public: Today, the term Big Oil most likely evokes a negative visceral However, while some of those companies are indeed among the largest in the Petroleum in World History Brian C.
Black - "Therefore, Big Oil included large-scale corporate infrastructure that spanned the globe without ever releasing the basic elements that titillated the public: Today, the term Big Oil most likely evokes a negative visceral However, while some of those companies are indeed among the largest in the Retrieved 20 November Retrieved 6 December The Seven Sisters Still Rule".
Retrieved 24 October NewsHour with Jim Lehrer. The Times South Africa. Retrieved 26 October Archived from the original on 22 December Retrieved 20 Jan Law and the sea.
China National Offshore Oil.