Oil Producers

The oil and gas business is classified into three major segments: upstream, midstream and downstream. Upstream includes the exploration and production of oil and natural gas while midstream includes the transportation, storage and trading of crude oil, refined products and natural gas. Finally, downstream includes the refining and marketing of crude oil.

The oil industry has about 85 major players—some of which are fully integrated oil producers - while a few others focus on niche segments. US giants such as ExxonMobil and ChevronTexaco, together with European players such as BP and Royal Dutch/Shell Group, wield significant influence in the oil and gas industry.

ExxonMobil

The ExxonMobil Corporation is engaged in the energy and petrochemical business. Through its divisions and affiliates, ExxonMobil operates in the US and about 200 other countries and territories. It is involved in the exploration, production and marketing of crude oil, natural gas and petroleum products. ExxonMobil is also a manufacturer and marketer of basic petrochemicals including olefins, aromatics, polyethylene and polypropylene plastics and a variety of specialty products. In addition, ExxonMobil has interests in electric power generation, as well as in the oil market.

ChevronTexaco

ChevronTexaco Corporation ranks among the world’s largest and most competitive global energy companies and oil producers. Headquartered in San Ramon, ChevronTexaco is active in more than 180 countries. It is engaged in every segment of the oil and gas industry:

• Exploration and production
• Refining, marketing and transportation
• Chemicals manufacturing and sales
• Power generation

The company traces its roots to an oil discovery at Pico Canyon, north of Los Angeles and this led to the formation of the Pacific Coast Oil Company in 1879. In 1901, the Texas Fuel Company in Texas was born and these two companies, the predecessors of Chevron and Texaco, were both instrumental in transforming a fledgling oil business into a multifaceted, high-tech energy industry. In December, 2003, the resource base of ChevronTexaco comprised:

• 12 billion boe net proved reserves
• Daily production of 2.5 million boe net
• A global refining capacity of 2.2 million barrels of crude oil per day
• A worldwide marketing network in 84 countries with about 24,000 retail sites
• Stakes in 13 power-generating assets in the US, Asia and Europe

BP

BP plc is one of the biggest companies in the UK and one of the largest oil producers in the global oil and gas industry. Incorporated in 1909, it has four main businesses:

• Exploration and production
• Gas, power and renewables
• Refining and marketing
• Petrochemicals

Exploration and Production includes the exploration, development and production of oil and natural gas. It also includes the transportation of natural gas via pipeline and natural gas processing. It has exploration and production interests in 28 countries. Areas of activity include the US, the UK, Norway, Canada, South America, Africa, the Middle East and Asia Pacific. Production in 2003 came from 23 countries. Gas, power and renewables include the marketing and trading of natural gas, liquefied natural gas, solar and renewables.

Refining and marketing includes oil supply and trading. Petrochemical activities include manufacturing, marketing and distribution. In September 2003, BP merged its Russian assets into those of Tyumen Oil (TNK)  creating TNK BP—a joint venture between BP and the Alfa Group and Access-Renova (collectively, AAR). AAR intends to merge OAO Slavneft, a Russian oil company where it holds a 50 percent stake in conjunction with TNK BP.

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