Oil Companies

Oil companies are businesses involved in the exploration, extraction, refining, and distribution of oil and natural gas. They play a crucial role in the global energy market by supplying fuels for transportation, heating, and electricity generation. These companies range from large multinational corporations, like ExxonMobil and Shell, to smaller local firms. They invest in technology and infrastructure to locate and drill oil wells, refine crude oil into usable products, and manage logistics for distribution. Oil companies are significant contributors to the economy but also face scrutiny over environmental impacts and the transition to renewable energy sources.