THE NEWEST GEOGRAPHICAL CHANGES IN THE CORPORATE STRUCTURE OF GLOBAL OIL AND GAS PRODUCTION

Abstract

This article is devoted to the latest changes in the corporate structure of global oil and gas production over the
period from 2001 to 2021. The study aims to identify current trends in the development of oil and gas companies and compare them
in the hydrocarbons production segment. The author has collected a database of the largest companies in the industry, including data
on their production indicators for the base and study years and also qualitative characteristics – the form of ownership, scope of
activity, and geographical coverage. Based on the collected data, the study revealed changes in the corporate structure of global
hydrocarbons production, noted despite the relative stability in the level of market concentration. The dynamics of production
indicators were studied both in the context of the companies themselves and their home countries. The aspect of the
transnationalization of global oil and gas production in 2021 was explored. As the study showed, the top 10 firms account for about
80% of hydrocarbons produced outside of the companies’ home countries. The example of one of the largest oil and gas MNEs in the
world – ExxonMobil – shows the change in the location of producing assets and the role of individual countries in the global
hydrocarbons production by the company.