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The Global Oil Industry Proven World Oil Reserves Petroleum Intelligence Weeklys Ranking of Top Oil Companies Saudi Aramco Operations in: Exploration, production, refining, marketing, and international shipping. The company has approximately one fourth of world oil reserves The company is headquartered in Dhahran, Saudi Arabia and employs about 52,100 people. State Owned National Iranian Oil Company(NIOC) State owned Involved in: exploration, refining, and transportation of oil, gas, and petroleum products. The company primarily operates in Iran where it is headquartered in Tehran, Iran NIOC produces more than 3.9 million barrels of crude oil per day from its 138.4 billion barrels of reserves. Exxon Mobil Engaged in exploration and production, refining, and marketing of oil and natural gas. The company is also engaged in the production of chemicals, commodity petrochemicals, and electricity generation. Exxon also set an annual profit record by earning $40.61 billion last year? nearly $1,300 per second in 2007. Organization of Petroleum Exporting Countries (OPEC) Created in 1960 Original Member Countries Iran Iraq Kuwait Saudi Arabia Venezuela Objective statement Conference of OPEC members met on the 9th and 10th of September? Non-OPEC members attended? Minister of Petroleum of Egypt, the Deputy Prime Minister of the Russian Federation and the Minister of Energy Mining of the Republic of Sudan, Discussed energy market stability and security, enhancing socio-economic development, alleviating poverty and protecting the environment, recognizing that energy is central to the achievement of the Millennium Development Goals US Oil Imports China Oil Imports Half of its imports is from the Middle East In 2006, one-third of its oil imports from Africa, Angola, the Republic of Congo, Equatorial Guinea, and Sudan It has also sought supplies from Chad, Nigeria, Algeria, and Gabon. The International Energy Agency projects Chinas net oil imports will jump to 13.1 m