The price given by the gas companies It has to do with several components, which influences not only the companies themselves but also factors that you will learn about below …
The price of gas companies in the United States
- In this way, gas companies impart the price based on the fluctuation of the price of crude oil.
- Oil needs to be converted into crude gas through refining, which has another price that influences as another of the components.
- Logistics companies charge a fee for distribution and marketing, that is, for transporting the gas to the refineries and from there to the retail stores.
- Federal and state taxes are also added to it.
- Therefore the price has integrated costs, but not all cities pay the same per gallon and it is for this reason that residents of some regions pay more than others.
- An example is Hawaii where you pay more than in South Carolina. They also have a higher price due to the type of oil that is necessary for gas production, since oil has different prices according to where it is extracted and how easy it is to refine.
- In the United States, the benchmark for oil produced is the WITI or West Texas Intermediate in conjunction with the Brent world benchmark index generally traded at a higher price than the WITI.
- In this sense, and following the same example, Hawaii as other states that require imported oil, pay a higher price than the other states that use oil with a lower price.
- In turn, in some states the cost of gas is associated with refining gas to meet necessary standards. An example is California that requires the use of gas with low emissions and therefore needs refiners that use a special oxygen mixture that is more expensive and not all refiners can do it.
- A fatal event such as when the Exxon Mobil refinery exploded caused a gas deficit and consequently high prices, leading to the understanding that in California, high prices have to do with environmental laws.
- In the case of Hawaii, its high gas prices are related to refining costs and high electricity costs that are between 200 and 300% more than the states on the mainland.
- In turn, transportation influences the price considering that from refineries to gas stations there is a shipping cost that increases the further the gas needs to be carried.
- For example, Alaska, which is an oil producer and has a small refinery without much efficiency, requires importing gas from refineries on the east coast and therefore the cost of transportation makes its gas the highest in the country.
- But states like Louisiana and Texas are the states with the lowest gas prices because they have refineries and eliminate the cost of transportation. As for the gas companies, they are the following:
Gas companies in the United States
ExxonMobil
ExxonMobil is the one that ranks first as one of the best gas companies, which is publicly traded and operates in several countries around the world and is considered the leading company within the oil and gas industry.
Chesapeake Energy
Chesapeake Energy is in second place after Exxon Mobil in terms of natural gas production in addition to being the driller with the highest activity of new gas wells in the continental United States, as it is a company that is in charge of searching and developing natural gas and oil fields in the United States.
Andarko Petroleum
In third place of importance is Andarko Petrroleum as a producer of natural gas and oil, since the same company is considered the largest in terms of world production.
British Petroleum
Although British Petroleum is in fourth place, it ranks fifth as the largest producer of natural gas and, according to the same company, is a leader in the production and exploration of oil and natural gas. On the other hand, it is headquartered in Oklahoma and operates in the continental area of Canada and the United States.
Encana
According to the NGSA, it ranks sixth in terms of the number of cubic meters in natural gas refining recorded at the end of 2010.
ConocoPhillips
In seventh place is ConocoPillips as the largest producer of natural gas considering an amount of more than 50 million cubic meters of natural gas produced. On the other hand, it is a company that operates beyond 30 countries in the world.
Chevron
According to the NGSA Chevron is in eighth place as a natural gas producer considering the production of more than 37 million cubic meters at the end of 2010. It is a company that changed its company name starting with Costa del Pacífico Oil Co., Then it was called Standard Oil Co. of California and finally as it is known today: Chevron.
Royal Dutch Shell
In ninth place, Royal Dutch Shell forms a group of petrochemical and energy companies. Its production in the United States was more than 34 million cubic meters at the end of 2010 and within the United States it operates in 50 states.
EOG Resources Inc.
According to NGSA, EOG Resources Inc. ranks 10th with a natural gas production of more than 32 million cubic meters, it is an independent US oil and natural gas company.
Natural gas companies
However the gas companies They are categorized in different positions according to the amount of cubic meters of its production is valued or by its profitability or by the amount of barrels of oil it produces. Then according to these statistics their order differs from the previous one:
- ExxonMobil also ranks first in this statistic as the best oil and gas company in the United States, with its market value exceeding 356 million. According to its revenues, it ranks in seventh place while in first place as the company with the highest profitability and a number of barrels of oil exceeding 3.9 billion, which is representative of 3% of world production.
- Chevron on this list is in second place due to its market value of about $ 197.4 billion. It was created after the dissolution of Standard Oil, resulting in its second place due to the acquisition of the oil company Texaco.
- ConocoPhillips ranks third due to its market value of $ 76.7 billion. It is a company that explores, develops and produces oil and gas worldwide. Created after Conoco Inc. merged with Phillips Petroleum Co.
- Occidental Petroleum, ranked fourth due to its market value of $ 56.3 billion and third as an oil producer and gas producer in Texas, ranks 16th. It operates in the United States, the Middle East and Latin America.