Energy companies: Top 20 largest US energy companies 2021

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Energy companies
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Energy companies: Energy companies are a critical part of the American economy, powering individuals and businesses for the comfort and technologies they use on a day-to-day basis. A vital but often dirty power supply, the entire energy sector is engaged in a transition towards cleaner and more renewable sources and uses of power.




The largest energy companies of the United States primarily operate in two main areas: Oil & Gas and Utilities. The Global Industry Classification Standard, which intends to define companies according to their activities, defines Oil & Gas companies as belonging to the “Energy” sector, while electricity producers and utility distributors are categorized in the “Utilities” sector.

And companies involved in energy are often specialized either in the exploration, extraction (upstream), transportation, refining (midstream), and marketing and distribution (downstream) of hydrocarbons, or the generation of electricity in power plants, and the transmission and delivery of electricity.




However, many “utilities” companies are also engaged in the distribution of natural gas for heating and domestic power generation, and the very largest companies are involved in multiple activities of both sectors, and even further into associated engineering or industrial activities. So the companies included hereafter do reflect this separation, even though many of them often have a foot on the other side of this demarcation.

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The Oil & Gas segment is quite dominated by the two largest companies in the list, Chevron (#2) and ExxonMobil (#1) which are often considered as part of the major global petroleum companies. The other companies primarily involved Oil & Gas being significantly smaller than their two arch-rivals.

The Utilities segment seems to be more evenly represented. Even though NextEra Energy (#3) is quite larger than its followers, the difference in market capitalization is not as obvious. In the Utilities sector, since power generation and distribution network investments are very expensive, companies tend to have a distribution network spanning a few states. Companies are not competing for the whole US market, but rather focusing on local distribution areas. They also often operate under tight price regulation, which also limits competition and expansion.

But both segments are under pressure to become cleaner and move away from fossil fuels to more renewable sources. The development of solar and wind power generation is accelerating, and many utility companies are pledging a larger portion of their investments in that direction. For Oil & Gas companies, the push for green energy turns the favors towards natural gas which has less nocive emissions, and new investments in technologies to reduce emissions and collect carbon dioxide.

List of the top 20 largest American energy companies by market capitalization

1. ExxonMobil





Industry: Oil & Gas Integrated
Exxon Mobil Corporation, more commonly known as ExxonMobil, is the world’s largest energy company, operating in the exploration, production, transportation, and sale of crude oil and natural gas. ExxonMobil is also engaged in the manufacturing, transportation, and sale of petroleum products, markets commodity petrochemicals, and a range of specialty products.
Website: corporate.exxonmobil.com – Market Cap.: $189.6 Billion – Stock ticker: XOM

2. Chevron





Industry: Oil & Gas Integrated
Chevron Corporation is a multinational energy company involved in every aspect of the oil, natural gas, and geothermal energy industries in more than 180 countries. Chevron operates in hydrocarbon exploration and production, hydrocarbon refining, marketing and transport, chemicals manufacturing and sales, and power generation.
Website: chevron.com – Market Cap.: $164 Billion – Stock ticker: CVX

3. NextEra Energy





Industry: Electric Utilities
NextEra Energy, Inc. is an electric utility company particularly involved in renewable energies. Tracing its history to 1925, NextEra Energy is the world’s largest utility company, operating the world’s largest generator of wind and solar renewable energy, together with natural gas, nuclear energy, and oil power plants through its subsidiaries. It distributes power to 5 million customers throughout the United States and Canada.
Website: nexteraenergy.com – Market Cap.: $158.4 Billion – Stock ticker: NEE

4. Duke Energy





Industry: Electric Utilities
Duke Energy Corporation is an electric and natural gas utility company. Tracing its origins to 1900, Duke Energy now manages a number of nuclear, coal-fired, hydroelectric, oil and gas-fired plants, solar and wind farms, with more than 51,000 megawatts of capacity, and distributes electricity to 7.7 million customers in Ohio, Kentucky, Indiana, North and South Carolina, Florida, Tennessee, and Puerto Rico. It also serves more than 1.6 million natural gas customers in Ohio, Kentucky, Tennessee, and the Carolinas.
Website: duke-energy.com – Market Cap.: $69.2 Billion – Stock ticker: DUK

5. Southern Company





Industry: Electric Utilities
Southern Company is an electric utility company. Through its subsidiaries, it serves 9 million natural gas and electric utility customers in Alabama, Georgia, Illinois, Mississippi, Tennessee, and Virginia. With origins dating back to 1924, it now operates multiple coal-fired, nuclear, and natural gas power plants as well as some renewable energy sources.
Website: southerncompany.com – Market Cap.: $62.2 Billion – Stock ticker: SO

6. Dominion Energy





Industry: Diversified Utilities
Dominion Energy, Inc., also more simply known as Dominion, is an electric and natural gas utility company. It operates in power generation with a number of nuclear, natural gas, coal-fired and hydroelectric plants, and solar farms, transmission and delivery of natural gas in Utah, Wyoming, and Idaho, and electricity to 2.6 million customers in Virginia and North Carolina.
Website: dominionenergy.com – Market Cap.: $59.5 Billion – Stock ticker: D

7. ConocoPhillips





Industry: Oil & Gas E&P
ConocoPhillips is a company specialized in oil and gas exploration and production. With roots dating back to 1885, ConocoPhilips is now a global leader in exploration, production, and transport to market with a geographical segmented presence in Alaska, the 48 U.S. states (Lower 48), Latin America, Canada, Europe, Asia Pacific, the Middle East, and other locations. The downstream activities of ConocoPhillips were separated as Phillips 66 in 2012.
Website: conocophillips.com – Market Cap.: $54.2 Billion – Stock ticker: COP

8. Enterprise Products





Industry: Oil & Gas Midstream
Enterprise Products Partners L.P. is a natural gas and crude oil transportation company. A key player in the midstream segment, Enterprise Products is involved in a number of activities including pipelines, storage, drilling platforms, fractioning and processing for natural gas, natural gas liquids, crude oil, refined products and petrochemicals.
Website: enterpriseproducts.com – Market Cap.: $44.2 Billion – Stock ticker: EPD

9. Exelon





Industry: Diversified Utilities
Exelon Corporation is an electric utility company, engaged in the production and distribution of electricity. The largest operator of nuclear power plants in the U.S., Exelon also generates electric power through fossil fuel plants, hydroelectric, solar plants, and wind turbines. It delivers electricity to more than 10 million customers in Illinois, Pennsylvania, Maryland, Delaware, New Jersey, and Washington, DC through local subsidiaries.
Website: exeloncorp.com – Market Cap.: $40.5 Billion – Stock ticker: EXC

10. American Electric Power





Industry: Electric Utilities
American Electric Power, also known by the acronym AEP, is an electric utility company. Tracing its origins to 1906, AEP now operates in power generation primarily with coal-fueled power plants, but also with natural gas and nuclear plants, and wind, hydro, pumped storage, and other sources. It is also involved in power transmission and delivery through local subsidiaries in Ohio, Texas, Tennessee, West Virginia, Indiana, Michigan, Kentucky, Oklahoma, Arkansas, and Louisiana.
Website: aep.com – Market Cap.: $40.2 Billion – Stock ticker: AEP

11. Sempra Energy





Industry: Diversified Utilities
Sempra Energy is an electric and natural gas utility company. It develops and operates electric and natural gas infrastructure, electric distribution lines, liquefied natural gas facilities, and distribution networks. Through its subsidiaries, Sempra Energy serves more than 35 million electric and natural gas customers in California, Texas, and Mexico.
Website: sempra.com – Market Cap.: $35.7 Billion – Stock ticker: SRE

12. Xcel Energy





Industry: Electric Utilities
Xcel Energy Inc. is an electric utility company. Through its subsidiaries, Xcel Energy operates coal, hydro, nuclear, and biomass power plants, serving more than 3.3 million electricity customers, and delivers natural gas to 1.8 customers in Minnesota, Michigan, Wisconsin, North Dakota, South Dakota, Colorado, Texas, and New Mexico.
Website: xcelenergy.com – Market Cap.: $34.4 Billion – Stock ticker: XEL

13. Kinder Morgan





Industry: Oil & Gas Midstream
Kinder Morgan, Inc. is an energy company specialized in oil and gas pipelines and terminals. It transports natural gas, refined petroleum products, crude oil, carbon dioxide, and more through approximately 83,000 miles of pipelines across the U.S. and Canada, and handles a variety of raw and refined products in its 147 terminals, including gasoline, jet fuel, ethanol, coal, petroleum coke, and steel.
Website: kindermorgan.com – Market Cap.: $31.9 Billion – Stock ticker: KMI

14. Eversource





Industry: Electric Utilities
Eversource Energy is a utility company. It transmits and delivers electricity and natural gas to approximately 3.7 million customers in Connecticut, Massachusetts, and New Hampshire. Eversource also operates in water utility through its subsidiary Aquarion Water Company, acquired in 2017.
Website: eversource.com – Market Cap.: $30 Billion – Stock ticker: ES

15. EOG Resources





Industry: Oil & Gas E&P
EOG Resources, Inc. is a hydrocarbon exploration and extraction company. It operates in the production of petroleum, natural gas liquids, and natural gas in the United States, Canada, Trinidad and Tobago, and China, with more than 800,000 barrels of oil equivalent per day. EOG Resources has more than 3.3 billion barrels of oil equivalent of estimated proved reserves, predominantly located in the U.S.
Website: eogresources.com – Market Cap.: $29.7 Billion – Stock ticker: EOG

16. Phillips 66





Industry: Oil & Gas Refining & Marketing
The Phillips 66 Company is a petroleum refining company. Tracing its origins to 1917, Philips 66 now operates 13 oil refineries with a net crude oil capacity of 2.2 million barrels per day, producing natural gas, petrochemicals, aviation fuels, motor fuels, and lubricants. It also owns the Conoco, Phillips 66, and 76 stations retail outlets in the U.S. and jet filling stations in Europe, as well as pipeline, and a share in natural gas and chemical companies. It was separated from ConocoPhilips in 2012.
Website: phillips66.com – Market Cap.: $29.6 Billion – Stock ticker: PSX

17. PSEG





Industry: Diversified Utilities
PSEG, which stands for the Public Service Enterprise Group, is a diversified energy utility company formed in 1903. Through its subsidiaries, PSEG primarily operates nuclear and natural gas power plans and solar energy facilities, providing electricity to 2.3 million customers and gas to 1.9 million customers in New Jersey, as well as 1.1 million customers in Long Island.
Website: pseg.com – Market Cap.: $28.5 Billion – Stock ticker: PEG

18. Marathon Petroleum





Industry: Oil & Gas Refining & Marketing
Marathon Petroleum Corporation is a petroleum refining company. It operates in the refining, marketing, and transportation of petroleum products, petrochemicals, and gasoline marketed notably in Marathon branded outlets, as well as in its retail subsidiary Speedway LLC. Marathon Oil operates 16 refineries throughout the United States with more than 3 million barrels of crude oil capacity per day.
Website: marathonpetroleum.com – Market Cap.: $28.1 Billion – Stock ticker: MPC

19. WEC Energy Group





Industry: Electric Utilities
WEC Energy Group Inc. is an electricity and natural gas utilities company. It operates in electric power generation and the distribution of electricity and natural gas through a number of subsidiary companies. Tracing its origins to 1896, WEC Energy Group produces more than 7,100 megawatts of electricity and provides services to 4.5 million customers in Wisconsin, Illinois, Michigan, and Minnesota.
Website: wecenergygroup.com – Market Cap.: $28 Billion – Stock ticker: WEC

20. Pioneer Natural Resources





Industry: Oil & Gas E&P
Pioneer Natural Resources Company, also more simply known as Pioneer, is a company engaged in hydrocarbon exploration and production. It is especially involved in oil extraction in the Permian Basin in Western Texas, together with natural gas liquids and natural gas. Pioneer also operates in associated businesses, including oil and gas technologies, royalties, and integrated services in well services and water management.
Website: pxd.com – Market Cap.: $26.1 Billion – Stock ticker: PXD
Here are the 20 largest American energy companies. Do you think they are worth their market capitalization? Do they provide a valuable and convenient service? Do they have too much economic power… and maybe political power too?

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