Shell, a large non-state oil company, has responded to the virus's spread by cutting costs and operating costs. It abandoned the Lake Charles LNG project and sold its Appalachian assets to secure sufficient funds to respond to the Covid19 threat. The company still suffered a loss of $21 billion in fiscal 2020. Most of this was due to $180 billion in revenue, which nearly halved.

However, Shell continued to invest in several projects, such as LNG processing in Nigeria. When oil prices recovered, the company repaid its debts with available income and increased its dividend. In 2021, the company sold most of its Canadian assets to Crescent Point Energy for approximately $707 million. the company also signed contracts with Cairn Energy and Cheiron Petroleum Corp for inland Egyptian production.

Shell also continued to develop its renewable energy business by investing in wind energy in the Netherlands and the United States. The company has also been experimenting with floating and air wind projects with seven other major companies, agreeing to several energy transitions with seven other leading companies.

Founded: April 1907
Headquarters: Haagse Hout, The Hague, Netherlands
Market cap: $169.18 Billion As of December 2021
Revenue: $181bn in 2020
Website: shell.com

British giant BP also agreed to the transition principle after announcing a zero target just before the outbreak of COVID-19. The company's finances are on par with Shell, and sales have fallen to $180 billion. The mining sector of the company posted a net loss of $21 billion in the 2020/21 fiscal year. Nevertheless, the cost per barrel of oil equivalent was about $6.30. The adjusted value of BP's non-operating assets resulted in a loss of $16 billion in value, but this figure will change as oil prices rise.

In June, BP sold its petrochemical business to Ineos for $4 billion. In early 2020, it started operations in the Alligin oil field in the UK and the Gazer oil field in Oman. Engineers produced the first gas in Egypt's Katameya oil field in October 2020, and India's R-Cluster ultra-deep-sea project produced its first gas in December 2020.
In the meantime, the company continued its diversification efforts.

BP announced investments in US wind farms and the UK carbon capture projects, as well as investments in clean hydrogen projects in Germany. Lightsource has developed several solar power plants in the US, and Chargemaster has installed electric vehicle charging stations throughout the UK.

Founded: 14 April 1909
Headquarters: London, England, United Kingdom
Market cap: $91.53 Billion As of December 2021
Revenue: $180bn in 2020
Website: bp.com

Last year, Total became TotalEnergies to highlight the company's commitment to broader energy investments. Like BP, the small renewable energy sector has performed well, but oil losses have made 2020 a difficult year.
revenue was $60 billion less than a year ago.

Total's net income increased from $11.4 billion in 2019 to a loss of $7.3 billion in 2020. CEO Patrick Pouyanné praised the company's move to lower the break-even point to $26 a barrel, helping it overcome a "double crisis" of Covid-19 and low oil prices. price. We were able to preserve company assets by opening 4,444 reservoirs off the coast of England, Egypt and South Africa. In the UAE, Total and ADNOC have agreed to work together to develop applications for carbon capture, use and storage. Shortly thereafter, the company announced that it would invest in a Norwegian CCS initiative with Shell and Equinor.

In May 2020, TotalEnergies officially adopted a net-zero target for 2050. As part of that, Total acquired 50% of its 2GW solar portfolio from Adani Green Energy, acquiring 20% of the company itself in 2021. Through its subsidiary Total, it will develop a portfolio of 2GW solar panels in Spain. In the UK, France and Korea, companies have teamed up to launch pilot floating wind turbines. Total also announced its intention to enter the vehicle charger market. After signing a contract to install 20,000 chargers in Amsterdam, the charging network was acquired a charging network in London.

Founded: 28 March 1924
Headquarters: Tour Total, Courbevoie, France
Market cap: $129.05 Billion As of December 2021
Revenue:$120bn in 2020
Website: totalenergies.com

In 2020, Gazprom continued construction of the politically controversial Nord Stream 2 gas pipeline. Completed in September 2021, the pipeline will transport huge amounts of gas from Russia to Germany. This will allow Gazprom to improve access to the Central European market, which is causing concern among Eastern European countries that rely on Gazprom's pipelines as a source of income.

In June, construction of an ice-resistant platform began at the Astrakhan field and drilling began at the Kharavskoye field. Gazprom is continuing negotiations with OMV on the sale of its stake in the Urengoyskoye field. Last August, Gazprom discussed the possibility of building a gas pipeline between Russia and China via Mongolia.

Gazprom also announced that it would develop helium production after the construction of the Amur gas processing plant was completed. The first block of the plant will be put into operation in September 2021, producing 20 million cubic meters of gas per year. Its revenue fell from $29 billion in 2019 to $22 billion in 2020, in part due to production restrictions imposed by Russia's OPEC deal. As a result, net income fell from $10 billion to a loss of $9.7bn.

PJSC Lukoil is a Russian transnational energy company headquartered in Moscow, specializing in the extraction, production, transportation and sale of petroleum, natural gas, and petroleum products. It was formed in 1991 as a result of the merger of three state-owned West Siberian companies named after each city in the Khanty-Mansiysk Autonomous Okrug. Its name is a combination of the abbreviation LUK (initial for the oil-producing cities Langepas, Urai, Kogalym).

Russian oil and gas company Lukoil is primarily engaged in the exploration, production, refining, transportation and marketing of petroleum products in the Siberian region. The company distributes crude oil and petroleum products through an extensive pipeline system and offshore and serves customers in Russia and the United States.

Founded: 25 November 1991
Headquarters: Moscow, Russia
Market cap: $58.26 Billion As of December 2021
Revenue: $78 billion in 2020
Website: lukoil.com

Rosneft is a Russian integrated energy company based in Moscow. Rosneft specializes in the exploration, production, production, refining, transportation, and sale of crude oil, natural gas, and petroleum products. The company is controlled by the Russian government through its holding company, Rosneftegaz.

Rosneft was founded as a state-owned company in 1993 and then incorporated in 1995 to acquire state-owned gas and oil assets. Rosneft became a major Russian oil company after purchasing the assets of the former oil company Yukos at a state auction. After acquiring OJSC TNKBP, then one of Russia's largest oil companies in 2013, Rosneft became the largest publicly traded oil company in the world.

Rosneft is the third-largest company in Russia and second (after Gazprom) in terms of revenue (4.13 trillion rubles). Internationally, it is one of the largest oil companies, ranked 24th in terms of revenue. In the 2020 Forbes Global 2000 evaluation, Rosneft was ranked 53rd among the world's largest public companies. The company operates in more than 20 nations across the globe.

Founded: 1993
Headquarters: Moscow, Russia
Market cap: $73.12 Billion As of December 2021
Revenue: $79.6 billion in 2020
Website: http://rosneft.com/

Dutch energy and commodity trading company - Vitol was founded in Rotterdam in 1966 by Henk Vietor and Jacques Detiger. It is complemented by processing, transportation, terminals, exploration and production, electricity and retail, while physical transactions, logistics and distribution constitute the backbone of the business.

Vitol has 40 offices worldwide, with the largest in Geneva, Houston, London and Singapore. With 2018 revenues of $231 billion, the company is the world's largest independent energy trader and will be ranked #9 on the Fortune Global 500.

Vitol ships more than 350 million tonnes of crude oil annually and controls 250 mega tankers and other vessels. Worldwide. On average, it processes more than 7 million barrels of petroleum and petroleum products per day, equivalent to the daily consumption of Japan, the world's third-largest oil consumer after the United States and China.

Founded: 1966
Headquarters: Geneva, Switzerland; Rotterdam, Netherlands
Market cap: updating
Revenue: decrease US$140 billion (2020)

Website: www.vitol.com

Eni is an Italian multinational oil and gas company headquartered in Rome. As one of the world's seven largest oil companies, it has a market capitalization of $36.08 billion as of December 31, 2020, and operates businesses in 66 countries. The Italian government owns a 30.33% gold stake in the company or 4.37%. 25.96% through the Treasury through Cassa Depositi e Prestiti.

The company is listed on the Euro Stoxx 50 index. In 2020, Eni was ranked #113 in revenue and #24 in Energy on the Fortune Global 500. In the 2020 Forbes Global 2000 ranking, Eni is ranked 468th in the world's largest public corporations ranking.

Founded: 10 February 1953
Headquarters: Rome, Italy
Market cap:$48.17 Billion As of December 2021
Revenue: €1.43 bln in 2020
Website: http://www.eni.com/

Repsol is a Spanish energy and petrochemical company headquartered in Madrid. She is engaged in the extraction and processing of raw materials all over the world. In the 2020 Forbes Global 2000 evaluation, Repsol was ranked 645 among the world's largest publicly traded companies.

Repsol employs more than 24,000 people worldwide. It is vertically integrated and operates in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trade.

Founded: 1987
Headquarters: Repsol Campus, Madrid, Spain
Market cap: $17.26 Billion As of December 2021
Revenue: €49.701 billion in 2020
Website: repsol.com

OMV is an Austrian multinational oil, gas and petrochemical integration company headquartered in Vienna, Austria. The company is listed on the Vienna Stock Exchange. In the 2020 Forbes Global 2000 evaluation, OMV Group was ranked 441 among the world's public enterprises.

OMV operates in the oil and gas and petrochemical industries. OMV took second place in 2021. In the Arctic Environmental Responsibility Index (AERI), there are 46 of 120 oil, gas and mining companies involved in the extraction of resources north of the Arctic Circle.

Founded: 1956
Headquarters: Vienna, Austria
Market cap: $18.27 Billion As of December 2021
Revenue: 16.55 billion euro in 2020
Website: https://www.omv.com/en