Top Energy Stocks by Revenue
Top energy companies ranked by revenue, latest annual filings.
What Revenue Means for Energy Companies
Revenue in energy is largely the product of two variables a company does not fully control: volumes produced or refined, and the commodity prices realized on those barrels, cubic feet, or refined products. That makes the top line unusually volatile compared with most other sectors. Integrated majors, pure-play producers, midstream pipelines, and oilfield services all book revenue differently, and each stream responds to the commodity cycle on its own timing.
Why It Matters in Energy
Revenue reflects both operational scale and commodity exposure, and in strong price environments energy firms generate outsized cash flow that can fund exploration, dividends, and buybacks. Still, revenue moves with prices that firms cannot set, so a boom year often owes more to the cycle than to management skill. Reading revenue alongside production volumes and realized pricing separates genuine operational progress from the tailwind of higher benchmarks.
What to Read Alongside
Pair revenue with Free Cash Flow to gauge cycle resilience net of drilling spend, Capex for reinvestment intensity into reserves, and Debt since leverage behavior through the commodity cycle is what defines survival.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | XOM | ExxonMobil Holdings Corporation | Energy | $332.24B | $676.62B |
| 2 | SHEL | Shell plc | Energy | $266.89B | $280.78B |
| 3 | TTE | TotalEnergies SE | Energy | $201.20B | $192.81B |
| 4 | BP | BP p.l.c. | Energy | $192.55B | $114.69B |
| 5 | CVX | Chevron Corporation | Energy | $189.03B | $414.90B |
| 6 | MPC | Marathon Petroleum Corporation | Energy | $132.70B | $101.49B |
| 7 | PSX | Phillips 66 | Energy | $132.38B | $95.85B |
| 8 | VLO | Valero Energy Corporation | Energy | $122.69B | $96.62B |
| 9 | EQNR | Equinor ASA | Energy | $106.46B | $99.39B |
| 10 | E | Eni S.p.A. | Energy | $96.41B | $78.96B |
| 11 | PBR | Petróleo Brasileiro S.A. - Petrobras | Energy | $89.19B | $119.41B |
| 12 | ET | Energy Transfer LP | Energy | $85.54B | $65.15B |
| 13 | COP | ConocoPhillips | Energy | $58.94B | $163.71B |
| 14 | EPD | Enterprise Products Partners L.P. | Energy | $52.60B | $79.86B |
| 15 | ENB | Enbridge Inc. | Energy | $47.55B | $104.51B |
| 16 | PAA | Plains All American Pipeline, L.P. | Energy | $44.26B | $16.88B |
| 17 | PAGP | Plains GP Holdings, L.P. | Energy | $44.26B | $5.10B |
| 18 | SU | Suncor Energy Inc. | Energy | $38.20B | $79.14B |
| 19 | CVE | Cenovus Energy Inc. | Energy | $36.24B | $49.61B |
| 20 | SLB | SLB N.V. | Energy | $35.71B | $73.68B |
| 21 | IMO | Imperial Oil Limited | Energy | $34.33B | $58.92B |
| 22 | OKE | ONEOK, Inc. | Energy | $33.63B | $53.71B |
| 23 | EC | Ecopetrol S.A. | Energy | $31.86B | $31.97B |
| 24 | PBF | PBF Energy Inc. | Energy | $29.33B | $7.97B |
| 25 | CNQ | Canadian Natural Resources Limited | Energy | $28.27B | $100.09B |
| 26 | BKR | Baker Hughes Company | Energy | $27.73B | $47.54B |
| 27 | DINO | HF Sinclair Corporation | Energy | $26.87B | $16.65B |
| 28 | UGP | Ultrapar Participações S.A. | Energy | $25.99B | $5.78B |
| 29 | SUN | Sunoco LP | Energy | $25.20B | $11.63B |
| 30 | SUNC | SunocoCorp LLC | Energy | $25.20B | $3.14B |
| 31 | EOG | EOG Resources, Inc. | Energy | $22.63B | $77.17B |
| 32 | HAL | Halliburton Company | Energy | $22.18B | $26.34B |
| 33 | OXY | Occidental Petroleum Corporation | Energy | $21.59B | $56.36B |
| 34 | LNG | Cheniere Energy, Inc. | Energy | $19.98B | $56.76B |
| 35 | GLP | Global Partners LP | Energy | $18.56B | $1.52B |
| 36 | YPF | YPF Sociedad Anónima | Energy | $18.45B | $15.16B |
| 37 | DVN | Devon Energy Corporation | Energy | $17.19B | $46.43B |
| 38 | TRGP | Targa Resources Corp. | Energy | $17.03B | $56.74B |
| 39 | KMI | Kinder Morgan, Inc. | Energy | $16.94B | $66.74B |
| 40 | FANG | Diamondback Energy, Inc. | Energy | $15.03B | $49.96B |
| 41 | VG | Venture Global, Inc. | Energy | $13.77B | $28.83B |
| 42 | MPLX | MPLX LP | Energy | $13.00B | $56.64B |
| 43 | WDS | Woodside Energy Group Ltd | Energy | $12.98B | $40.00B |
| 44 | EXE | Expand Energy Corporation | Energy | $12.12B | $19.54B |
| 45 | TS | Tenaris S.A. | Energy | $11.98B | $29.71B |
| 46 | WMB | The Williams Companies, Inc. | Energy | $11.95B | $80.11B |
| 47 | TRP | TC Energy Corporation | Energy | $11.11B | $64.51B |
| 48 | CQP | Cheniere Energy Partners, L.P. | Energy | $10.76B | $27.77B |
| 49 | DK | Delek US Holdings, Inc. | Energy | $10.72B | $3.92B |
| 50 | FTI | TechnipFMC plc | Energy | $9.93B | $24.70B |
| 51 | IEP | Icahn Enterprises L.P. | Energy | $9.66B | $3.60B |
| 52 | OVV | Ovintiv Inc. | Energy | $8.91B | $16.26B |
| 53 | NOV | NOV Inc. | Energy | $8.74B | $6.26B |
| 54 | EQT | EQT Corporation | Energy | $8.64B | $30.90B |
| 55 | PARR | Par Pacific Holdings, Inc. | Energy | $7.46B | $3.41B |
| 56 | CVI | CVR Energy, Inc. | Energy | $7.16B | $3.83B |
| 57 | PBA | Pembina Pipeline Corporation | Energy | $5.67B | $28.08B |
| 58 | AR | Antero Resources Corporation | Energy | $5.28B | $11.08B |
| 59 | PR | Permian Resources Corporation | Energy | $5.07B | $18.24B |
| 60 | WFRD | Weatherford International plc | Energy | $4.92B | $6.12B |
| 61 | CHRD | Chord Energy Corporation | Energy | $4.88B | $7.33B |
| 62 | PTEN | Patterson-UTI Energy, Inc. | Energy | $4.83B | $3.76B |
| 63 | CNR | Core Natural Resources, Inc. | Energy | $4.16B | $3.94B |
| 64 | LBRT | Liberty Energy Inc. | Energy | $4.01B | $1.95B |
| 65 | RIG | Transocean Ltd. | Energy | $3.96B | $5.85B |
| 66 | BTU | Peabody Energy Corporation | Energy | $3.86B | $1.95B |
| 67 | WES | Western Midstream Partners, LP | Energy | $3.84B | $16.47B |
| 68 | HP | Helmerich & Payne, Inc. | Energy | $3.75B | $3.52B |
| 69 | MTDR | Matador Resources Company | Energy | $3.70B | $6.24B |
| 70 | CRC | California Resources Corporation | Energy | $3.67B | $4.15B |
| 71 | CAPL | CrossAmerica Partners LP | Energy | $3.66B | $754.69M |
| 72 | BWLP | BW LPG Limited | Energy | $3.58B | $3.32B |
| 73 | CRGY | Crescent Energy Company | Energy | $3.58B | $4.74B |
| 74 | NE | Noble Corporation plc | Energy | $3.29B | $6.53B |
| 75 | NBR | Nabors Industries Ltd. | Energy | $3.18B | $1.20B |
| 76 | NGL | NGL Energy Partners LP | Energy | $3.16B | $1.87B |
| 77 | SM | SM Energy Company | Energy | $3.15B | $7.03B |
| 78 | RRC | Range Resources Corporation | Energy | $3.12B | $11.39B |
| 79 | OII | Oceaneering International, Inc. | Energy | $2.78B | $3.41B |
| 80 | MUR | Murphy Oil Corporation | Energy | $2.72B | $5.16B |
| 81 | EFXT | Enerflex Ltd. | Energy | $2.57B | $2.37B |
| 82 | CCJ | Cameco Corporation | Energy | $2.54B | $31.05B |
| 83 | NOG | Northern Oil and Gas, Inc. | Energy | $2.48B | $2.43B |
| 84 | VIST | Vista Energy, S.A.B. de C.V. | Energy | $2.47B | $6.35B |
| 85 | VAL | Valaris Limited | Energy | $2.37B | $5.54B |
| 86 | NFG | National Fuel Gas Company | Energy | $2.28B | $6.98B |
| 87 | CNX | CNX Resources Corporation | Energy | $2.24B | $4.99B |
| 88 | CRK | Comstock Resources, Inc. | Energy | $2.22B | $3.94B |
| 89 | ARLP | Alliance Resource Partners, L.P. | Energy | $2.19B | $3.14B |
| 90 | SOBO | South Bow Corporation | Energy | $1.99B | $6.49B |
| 91 | FRO | Frontline plc | Energy | $1.97B | $10.11B |
| 92 | ACDC | ProFrac Holding Corp. | Energy | $1.94B | $547.28M |
| 93 | DEC | Diversified Energy Company | Energy | $1.83B | $898.13M |
| 94 | TALO | Talos Energy Inc. | Energy | $1.78B | $2.46B |
| 95 | KNTK | Kinetik Holdings Inc. | Energy | $1.76B | $7.92B |
| 96 | CMBT | Cmb.Tech NV | Energy | $1.67B | $4.83B |
| 97 | GEL | Genesis Energy, L.P. | Energy | $1.63B | $1.57B |
| 98 | RES | RPC, Inc. | Energy | $1.63B | $1.18B |
| 99 | HESM | Hess Midstream LP | Energy | $1.62B | $3.85B |
| 100 | XPRO | Expro Ltd | Energy | $1.61B | $1.47B |
No companies match this search.
How this ranking is built
Companies are ranked by revenue as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Size floor: A company qualifies at $500 million in market cap or above. Below that, one mis-stated figure outranks the companies the list is about.
- Currency check: A company whose annual revenue runs above 15 times its market cap is left out, because at that gap the two figures are not in the same currency.
- Currency check: A company whose balance sheet runs above 150 times its market cap is left out for the same reason.
- Market cap: stated at each company's latest close, which is newer than the annual figure ranked here.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.
Frequently asked questions
Why is energy revenue so volatile compared with other sectors?
Energy firms produce commodities whose prices are set in global markets and can move sharply on geopolitical events, inventory swings, or demand shifts. A producer's revenue can double or halve in a single year with little change in actual production volumes, simply because the barrel price moved. This is why cycle-adjusted metrics and multi-year averages are often more informative than single-year revenue figures when evaluating an energy business.
Does high energy revenue mean the company is drilling more?
Not necessarily. Revenue can jump because prices rose while production actually fell, or decline because prices dropped even as volumes grew. The most reliable way to separate operational performance from commodity tailwinds is to read revenue alongside production disclosures, typically expressed in barrels of oil equivalent per day. When revenue and production move together, something real is happening operationally; when they diverge, price is usually doing the work.
How do midstream and oilfield services revenues differ from producer revenue?
Midstream pipelines and storage operators often earn fee-based revenue under long-term contracts, which is less directly exposed to commodity prices than producer revenue. Oilfield services sit in between: their revenue depends on producer capital spending budgets, which rise and fall with the cycle but with a lag. Understanding which part of the value chain a firm occupies explains why revenue in the sector can diverge even when commodity prices are the same for all of them.