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The largest energy company in the U.S. is Exxon Mobil, which generated $413.68 billion in revenue in 2022.
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The United States produced 98.34 quadrillion British thermal units in 2021.
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The United States consumed 97.91 quadrillion British thermal units in 2021.
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The U.S. energy market is projected to grow at a CAGR of 5.6% through 2027.
The energy sector encompasses various methods of energy production and sales, categorized into renewable and non-renewable resources. Key energy sources include:
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Petroleum and oil
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Natural gas
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Diesel fuel
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Hydropower
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Biofuels
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Wind power
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Solar power
Fifteen major American energy companies dominate the U.S. market. These companies include:
Top 15 Energy Companies In The U.S.
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Exxon Mobil. Headquarters: Irving, Texas
Year Founded: 1999
2022 Annual Revenue: $413.68 billion
Exxon Mobil Corporation stands as a leader in oil, gas, and petroleum exploration, extraction, and distribution. With operations spanning six continents, they contribute over $250 billion to the global economy annually, consistently ranking high on the Fortune 500 list.
Despite their extensive reach, Exxon Mobil has faced criticism for historical climate change denial and environmental issues. The company has publicly committed to improving its sustainability practices.
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Chevron. Headquarters: San Ramon, California
Year Founded: 1879
2022 Annual Revenue: $246.252 billion
Chevron Corporation has built a legacy as one of the largest energy enterprises, producing three million barrels of refined fuels daily. Their operations span hydrocarbon exploration, chemical manufacturing, and power generation, though they are among the top emitters of industrial greenhouse gases globally.
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Phillips 66. Headquarters: Houston, Texas
Year Founded: 1917
2022 Annual Revenue: $169.99 billion
A spinoff of ConocoPhillips, Phillips 66 specializes in natural gas liquids and petrochemicals and is the world’s leading manufacturer of high-density polyethylene. They are also making strides in renewable energy, developing advanced organic photovoltaic cells for solar applications.
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ConocoPhillips. Headquarters: Houston, Texas
Year Founded: 1875
2022 Annual Revenue: $82.156 billion
ConocoPhillips focuses on hydrocarbon exploration and operates under several brands. It is a significant player in the global energy market, with a large share of U.S. production, although it has faced scrutiny for its environmental impact.
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General Electric. Headquarters: Boston, Massachusetts
Year Founded: 1892
2022 Annual Revenue: $76.555 billion
General Electric has evolved from its origins in electrical innovation to a diverse corporation involved in sectors like healthcare and renewable energy. The company has maintained its position on the Fortune 500 list for decades.
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Enterprise Products. Headquarters: Houston, Texas
Year Founded: 1968
2022 Annual Revenue: $58.186 billion
Enterprise Products offers extensive energy services, operating pipelines and processing plants across the U.S. While they manage significant infrastructure, they have encountered multiple incidents relating to safety and environmental issues.
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Southern Company. Headquarters: Atlanta, Georgia
Year Founded: 1945
2022 Annual Revenue: $29.279 billion
Southern Company is a leading gas and electric utility serving several Southern states, employing around 28,000 people and providing crucial energy services to millions.
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Duke Energy. Headquarters: Charlotte, North Carolina
Year Founded: 1904
2022 Annual Revenue: $28.768 billion
Duke Energy serves over 7 million customers across several states, utilizing a mix of energy sources including coal, natural gas, and renewables. The company has faced challenges related to environmental compliance and public perception.
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EOG Resources. Headquarters: Houston, Texas
Year Founded: 1999
2022 Annual Revenue: $25.702 billion
EOG Resources specializes in oil and gas exploration, focusing on sustainable practices while being a significant player in the fossil fuel sector, with a commitment to innovative solutions for environmental challenges.
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Pioneer Natural Resources. Headquarters: Irving, Texas
Year Founded: 1997
2022 Annual Revenue: $24.294 billion
Pioneer Natural Resources focuses on exploration in the Permian Basin, with substantial reserves and operations valued at over $126 billion. The company has been recognized for its growth and business practices.
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NextEra Energy. Headquarters: Juno Beach, Florida
Year Founded: 1984
2022 Annual Revenue: $20.956 billion
NextEra Energy is a leader in renewable energy, emphasizing wind and solar power. Their commitment to sustainability has significantly reduced their reliance on foreign oil, and they are recognized as one of the most innovative companies globally.
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Kinder Morgan. Headquarters: Houston, Texas
Year Founded: 1997
2022 Annual Revenue: $19.20 billion
Kinder Morgan manages an extensive network of pipelines and storage facilities for natural gas and crude oil, accounting for a significant portion of U.S. natural gas consumption. However, safety concerns have marred their reputation.
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Exelon. Headquarters: Chicago, Illinois
Year Founded: 2000
2022 Annual Revenue: $19.078 billion
Exelon is the largest regulated electric utility in the U.S., providing a diverse array of energy sources, including nuclear and renewable energy. They serve around ten million customers nationwide.
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Consolidated Edison. Headquarters: New York, New York
Year Founded: 1823
2022 Annual Revenue: $15.67 billion
Consolidated Edison, Inc. provides energy services primarily to the New York metropolitan area and is recognized for its quality service and employee satisfaction, having received accolades from major publications.
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Xcel Energy. Headquarters: Minneapolis, Minnesota
Year Founded: 1909
2022 Annual Revenue: $15.31 billion
Xcel Energy is committed to providing carbon-free electricity by 2050. They utilize a diverse energy portfolio to serve millions and are recognized for their sustainability goals.
U.S. Energy Industry FAQ
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What are the largest energy companies in the U.S.?
The largest energy company in the U.S. is Exxon Mobil. Exxon Mobil generated $413.68 billion in revenue in 2022, followed by Chevron at $246.252 billion and Phillips 66 at $169.99 billion.
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How many energy companies are there in the US?
There are over 1,600 energy companies in the United States. These companies vary significantly in size and purpose, working to provide energy solutions to a diverse array of consumers.
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Is the U.S. energy industry growing?
Yes, the U.S. energy industry is expanding. The energy sector is expected to grow at a CAGR of 5.6% through 2027, indicating a positive trend in the size and scale of energy companies.
References
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U.S. Energy Information Administration – U.S. Energy Facts Explained
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Macrotrends – 2022 Revenue
Author
Sky Ariella is a professional freelance writer, originally from New York. She has been featured on websites and online magazines covering topics in career, travel, and lifestyle. She received her BA in psychology from Hunter College.
