Big Oil

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Big Oil is a colloquial grouping of the world's six largest publicly traded and investor-owned oil and gas companies, also known as supermajors. The term, particularly in the United States, emphasizes their economic power and influence on politics. Big Oil is often associated with the fossil fuels lobby and also used to refer to the industry as a whole in a pejorative or derogatory manner. Sources conflict on the exact makeup of Big Oil today, though the companies which are most frequently mentioned as supermajors are ExxonMobil, Shell, TotalEnergies, BP, and Chevron with Eni and ConocoPhillips, prior to ConocoPhillips spinning off its downstream operations into Phillips 66, frequently being included as well. The phrase "Super-Major" emanated from a report published by Douglas Terreson of investment bank Morgan Stanley in February 1998. The report predicted a substantial consolidation phase of "Major" Oil companies which would result in a group of dominant "Super-Major" entities. Big...

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