What Companies Are in the Energy Field in 2024?

What Companies Are in the Energy Field in 2024? was originally published on Forage.

The energy field is massive, spanning renewable energy, nuclear power, and oil and gas. But, what companies are in the energy field? Many of the largest energy companies focus on oil and gas, though companies in solar power and electric vehicles (EVs) are gaining prominence as the world tries to pivot toward sustainable energy solutions. 

Using data from annual financial statements, we’ve compiled the biggest and most prominent top energy companies in the U.S. for 2024.

Top 10 Energy Companies in the U.S. 

1. ExxonMobil 

top energy company exxonmobil logo on flagrarrarorro / Depositphotos.com

Headquarters: Houston, TX
Revenue: $344.58 billion

ExxonMobil is an oil and gas corporation named after a 1999 merger between energy companies Mobil and Exxon. A direct descendant of John D. Rockefeller’s 1882 oil company Standard Oil, ExxonMobile split from the original company due to a 1911 Supreme Court decision. The split was an effort to prevent monopolization in the petroleum industry. 

ExxonMobil is currently the eleventh largest company in the world by revenue and deals in energy products like crude oil, natural gas, power generation, and petrochemicals. 

2. Chevron

chevron logo on signwolterke / Depositphotos.com

Headquarters: San Ramon, CA
Revenue: $196.91 billion

Chevron was founded in 1879 as the Pacific Coast Oil Co. Later, Standard Oil bought it out before spinning it off in 1911 because of anti-monopolization efforts from the U.S. Supreme Court. The company operated under the name Standard Oil of California until fully adopting “Chevron” in the 1960s. 

Chevron offers oil and gas products, lubricants, and fuel oil additives and operates retail service and gas stations under both the Chevron and Texaco names. 

>>MORE: Get in at the forefront of emerging industries with these 15 jobs of the future

3. Marathon Petroleum 

Energy company marathon petroleum logo on signjetcityimage2 / Depositphotos.com

Headquarters: Findlay, OH
Revenue: $150.31 billion

Marathon Petroleum is a petroleum refining and transportation company officially founded in 2009, but its roots trace back to Marathon Oil, which was founded in 1887. Marathon Petroleum currently owns 16 refineries in the U.S. and is the largest petroleum refinery in the country. In addition to processing natural resources, Marathon Petroleum sells gasoline and diesel fuel to independent marketers, retailers, and distributors. 

4. Phillips 66

Phillips 66 logo on signjetcityimage2 / Depositphotos.com

Headquarters: Houston, TX
Revenue: $149.89 billion

Phillips 66 is a refining, retail, and chemical business spun off from ConocoPhillips in 2012. In addition to oil refining, Phillips 66 operates service stations and is one of the largest supplies of lubricants in the U.S. The company owns and operates 13 refineries across the U.S. and Europe. 

>>MORE: Check out Phillips 66 internship deadlines with our guide

5. Valero Energy

Energy company Valero Energy logo on signwolterke / Depositphotos.com

Headquarters: San Antonio, TX
Revenue: $144.76 billion

Valero Energy is a downstream oil and gas company that owns and operates multiple refineries for gas and oil, ethanol plants, and a massive wind farm. The company was founded in 1980 as LoVaca Gathering Company, a subsidiary of Coastal States Gas Corp. In addition to its refining and processing operations, Valero Energy owns a number of fueling stations in the U.S. and Europe. 

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6. Tesla 

tesla logo on flagship storeAfotoeu / Depositphotos.com

Headquarters: Austin, TX
Revenue: $96.77 billion

Although Tesla is well known for its electric vehicles, it is also a significant player in energy storage systems, solar panels, solar shingles, and renewable energy solutions. Founded in 2003 in San Carlos, CA, Tesla has grown to become the most valuable auto manufacturer in the world and one of the most valuable companies overall. 

>MORE: Interested in exploring more careers in the auto industry? Check out our guide to Ford internships.  

7. Energy Transfer LP

Energy company Energy Transfer LP logo at headquartersJHVEPhoto / Depositphotos.com

Headquarters: Dallas, TX
Revenue: $78.59 billion

Energy Transfer LP is a midstream oil and gas company that transports and stores natural gas, crude oil, natural gas liquids, and refined products. As one of the largest midstream companies in the U.S., Energy Transfer LP manages more than 125,000 miles of pipelines. The company also operates retail fuel stations through its subsidiary, Sunoco. 

8. General Electric

General electric logo on buildingjetcityimage2 / Depositphotos.com

Headquarters: Boston, MA
Revenue: $67.95 billion

General Electric (GE) is an American energy and technology conglomerate founded in 1892 by a merger between Thomas Edison’s Edison General Electric Company and Charles Coffin’s Thomson-Houston Electric Company. In 2021, General Electric announced plans to split into three separate public companies: GE Aerospace, GE HealthCare, and GE Vernova, an energy-focused spin-off. The company intends to finalize the separation of its energy business in 2024. 

Outside of its well-known appliances and electrical distribution, GE is involved in wind turbines, nuclear power, and other renewable energy functions. Additionally, through its subsidiaries, GE operates in aircraft manufacturing, software development, and financial services. 

>>MORE: Land a summer role with our guide to GE internships

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9. ConocoPhillips

Energy company ConocoPhillips logo at headquartersJHVEPhoto / Depositphotos.com

Headquarters: Houston, TX
Revenue: $58.57 billion

Officially founded in 2002 from a merger of Conoco Inc. and Phillips Petroleum Company, ConocoPhillips has roots that trace back to the 1875 company Continental Oil and Transportation Company. ConocoPhillips now operates in 15 countries, transporting and marketing products in natural gas liquids, bitumen, liquified natural gas, and petroleum products. The company also has a strong presence in the hydrocarbon exploration industry, seeking deposits of natural gas and petroleum worldwide. ConocoPhillips exited its refining activities in 2012 with the formation of Phillips 66. 

>>MORE: Petroleum engineering is one of the highest-paid careers available. Check out more jobs with six-figure salaries

10. Enterprise Products Partners

Enterprise products logo on glass towerCadista / Depositphotos.com

Headquarters: Houston, TX
Revenue: $49.71 billion

Enterprise Products Partners is a midstream crude oil and natural gas pipeline company founded in 1968. In 2004, Enterprise Products acquired GulfTerra and formed one of the largest midstream oil and gas companies in the U.S., controlling over 50,000 miles of natural gas liquids, crude oil, and offshore pipelines. The company also owns and operates natural gas storage facilities, marine terminals for importing and exporting natural gas liquids, and natural gas processing facilities. 

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What Companies Are in the Energy Field Overseas?

Some of the most prominent companies in the energy field overseas include oil and gas corporations and renewable energy giants, such as: 

  • Saudi Aramco: The national, state-owned oil company of Saudi Arabia and one of the largest companies in the world by revenue 
  • Shell: A British oil and gas company formerly called Royal Dutch Shell
  • BP: A vertically integrated British oil and gas company that handles the sourcing, refining, transportation, and marketing of petroleum products  
  • Siemens Energy: A German energy company focusing on power generation, transportation, and storage through products like wind turbines, power plant systems, and transformers
  • TotalEnergies: One of the core members of Big Oil, a French petroleum and energy company
  • Eni: Another member of Big Oil, an Italian energy company that handles off- and onshore drilling, power generation, and refining
  • Vestas: A Danish wind turbine manufacturer, seller, and service provider
  • Jinko Solar Holding Co.: A Chinese solar energy company specializing in the research and manufacturing of photovoltaic (PV) products like solar panels for commercial and residential use

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Types of Energy Companies 

The energy field is a massive industry in practically every corner of the world. With emerging technologies, an increased focus on renewable energy, and a continued reliance on fossil fuels, the energy industry is not slowing down any time soon: A study by McKinsey & Company projects global investments in the energy sector to grow to between $2.0 trillion and $3.2 trillion by the year 2040. 

But what types of companies are in the energy field? The energy sector has two main categories: renewable and non-renewable. 

Renewable energy sources don’t come from fossil fuels or nuclear reactions. While renewable energy products are typically green or sustainable, not every renewable energy product is sourced or produced in entirely environmentally friendly ways. Some common areas renewable energy companies focus on include:

  • Generating energy through water, via hydropower and hydroelectric products
  • Biofuels — liquid fuels made from renewable sources, like plants
  • Wind power and turbines
  • Solar power
  • Electric vehicles

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Non-renewable energy companies handle sourcing, refining, storing, transporting, and selling fossil fuel and nuclear energy products. Some areas a non-renewable company in the energy field can specialize in include:

  • Nuclear power plants
  • Natural gas products
  • Gasoline and diesel fuel sales 
  • Coal transportations

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The post What Companies Are in the Energy Field in 2024? appeared first on Forage.