Europe’s oil and gas sector stands at a turning point, balancing traditional hydrocarbon strength with a rapid shift toward renewables, hydrogen, and carbon capture. By 2025, more than 80 new oil and gas projects will begin production across Europe, led by the UK, Norway, and Italy, regaining the strategic importance of Europe in global energy markets.

The largest oil & gas companies in Europe are Shell, bp, TotalEnergies, Equinor, Eni, Repsol, OMV, Galp, Edison, and PKN Orlen, which dominate exploration, production, and refining while steering the transition to low-carbon solutions.

This blog explores the top 10 largest oil and gas companies in Europe for 2025, highlighting their key operations, strategic projects, and contributions to energy security.

List of Top 10 Largest Oil and Gas Companies Europe (2025) - According to Revenue Generated

Shell plc

Shell plc is the largest oil and gas company in Europe in terms of revenue generated in 2024. The company, with over 50 years of experience as a LNG (liquified natural gas) producer and energy solutions provider, operates across more than 20 European countries, supplying energy to industries, utilities, and consumers through an extensive portfolio of oil, gas, and chemicals assets.

Shell, as one of the largest oil and gas companies in the world, is more focused on exploration, refining, LNG supply, and advanced chemical production. Shell’s European network includes sales offices in Germany, Italy, the Netherlands, Spain, Turkey, and the United Kingdom, as well as large refining and chemical complexes for its regional energy supply.

In Germany, Shell operates several major crude oil refineries, including the Rheinland Refinery in Wesseling, the Cologne-Godorf refinery, and its stake in the Mineraloelraffinerie Oberrhein and PCK Raffinerie.

In the Netherlands, Shell’s Pernis and Moerdijk complexes form one of Europe’s largest integrated refining and chemical manufacturing hubs. As the operator of the Jackdaw Gas Field in the UK, Shell holds a 100% stake, targeting peak production of 40 thousand barrels of oil equivalent per day.

TotalEnergies SE

TotalEnergies SE is among the leading oil and gas companies in Europe, with its upstream portfolio concentrated in the North Sea basin. Headquartered in Paris, France, the company operates major oil, gas, refining, and chemical assets across the United Kingdom, Norway, Denmark, the Netherlands, Belgium, and France. It is also at the forefront of the region’s transition to lower-carbon energy through large-scale Carbon Capture and Storage (CCS) initiatives.

In the United Kingdom, TotalEnergies is a key operator in the UK Continental Shelf. Its Culzean field, a high-pressure, high-temperature (HPHT) gas condensate field, began production in 2019 and supplies around 5% of the nation’s gas demand. The company also leads operations in the Khain field, a large North Sea gas complex featuring a multi-platform structure and floating storage system.

In Norway, TotalEnergies has stakes in the Greater Ekofisk Area, covering the Ekofisk, Eldfisk, and Embla fields. In Denmark, TotalEnergies operates the Tyra Gas Field, the country’s largest and a vital component of European gas security. Following major redevelopment, the Tyra II project resumed operations in 2024, effectively doubling Denmark’s gas production capacity.

In the Netherlands, TotalEnergies runs 15 offshore platforms and four subsea installations, sustaining gas output from mature fields in the Dutch North Sea. In Belgium, TotalEnergies owns and operates the Antwerp Integrated Platform, one of Europe’s largest refining and petrochemical complexes.

BP plc

BP plc is one of the largest oil and gas companies in Europe, with a diverse portfolio spanning exploration, production, refining, and energy trading. In the United Kingdom, BP remains a leading producer in the North Sea, where it operates several mature and emerging fields.

The Eastern Trough Area Project (ETAP) serves as a key production hub in the UK sector of the central North Sea. In 2025, the company began production from the Murlach field, another tieback to ETAP, contributing around 15,000 barrels of oil equivalent per day.

On the downstream side, BP Europa SE oversees the company’s refining, marketing, and distribution network across the continent. BP operates major refineries in Lingen and Gelsenkirchen (Germany) and Rotterdam (Netherlands), producing fuels and petrochemical products for regional markets. The company’s Aral retail brand maintains one of the largest fuel station networks in Europe, particularly in Germany.

In Norway, BP has a 30% ownership stake in Aker BP, a company formed in 2016 through the merger of BP’s Norwegian operations with Det norske. Aker BP is now the largest independent oil and gas producer on the Norwegian Continental Shelf. In October 2025, BP commenced production at the Murlach oil and gas field in the UK North Sea, marking its sixth major upstream project to come online in 2025.

Equinor A.S.A

Equinor ASA is one of the leading oil and gas companies in Europe, with a portfolio concentrated on the Norwegian Continental Shelf (NCS) and the UK North Sea. Headquartered in Stavanger, Norway, the company manages extensive offshore oil and gas operations.

On the Norwegian Continental Shelf, Equinor is Norway’s largest operator, overseeing a substantial range of producing and developing fields. Production is going on in the Johan Castberg field in the Barents Sea, anchored by a dedicated FPSO (floating production storage and offloading) ship. Gas production from Halten Øst, which started in March 2025, flows to Europe via the Åsgard B platform and is expected to continue through 2029.

Equinor is also advancing exploration and development at the Linnorm and Peon fields, securing future gas supplies for Europe. The recently approved Troll Gas Export Solution, expected online by Q4 2025, will provide greater export flexibility for the Troll field.

In the UK North Sea, Equinor formed a 50-50 joint venture with Shell effective January 2025, creating the largest independent oil and gas producer in the region. This entity is expected to produce over 140,000 barrels of oil equivalent per day while extending the life of existing fields.

ENI S.p.A

ENI S.p.A., one of the biggest oil and gas firms in Europe, operates a broad portfolio of upstream, midstream, and downstream assets. Headquartered in Rome, Italy, the company maintains extensive exploration and production operations across the North Sea, the Netherlands, Croatia, and the Eastern Mediterranean.

In the North Sea, ENI has been active since the 1960s in both the UK and Norwegian sectors. ENI’s Norwegian subsidiary, Vår Energi, has long-term gas supply agreements securing up to 5 billion cubic meters of natural gas through 2036.

In the Netherlands, ENI explores, develops, and produces hydrocarbons, while in Croatia, the company holds interests in Adriatic Sea production and exploration areas. Across Europe, ENI manages a vast natural gas and LNG distribution network, including oil and gas pipeline projects, import infrastructure, and a fleet of LNG carriers that support energy security and market flexibility. The Greenstream pipeline, carrying natural gas from Libya to Sicily, Italy, is a strategic link in Europe’s gas supply chain.

ENI, one of the largest LNG companies in the world, also operates significant downstream assets, including refineries in Germany such as Schwedt and the Bayernoil cluster, as well as multiple power generation sites in Italy. The company is transforming traditional facilities into biorefineries, producing biofuels and supporting Europe’s transition to lower-carbon energy.

In the Eastern Mediterranean, ENI is developing a deepwater gas project off the coast of Cyprus, with site characterization beginning in 2025. Additionally, the company maintains a strong retail presence across Austria, France, Germany, the Czech Republic, Romania, and Hungary under its Eni and Agip brands, providing fuels and petroleum products to European consumers.

Repsol S.A

Repsol S.A. is one of the notable oil and gas companies in Europe, with upstream and downstream operations across multiple countries. The company operates major oil and gas fields in the UK and Norway while maintaining refining, petrochemical, and energy supply activities in Southern Europe.

In March 2025, Repsol Resources UK consolidated its upstream operations with NEO Energy Group to form the NEO NEXT joint venture, combining fields such as Piper/Claymore, Penguins, Culzean, Shearwater, and Elgin Franklin.

In Norway, Repsol operates through Repsol Norge AS, focusing on offshore oil and gas production from fields including Yme, Blane, Gyda, and Rev. The Yme field was successfully brought back online in 2021.

In Spain, Repsol owns and operates five refineries in Cartagena, A Coruña, Bilbao, Puertollano, and Tarragona, supported by petrochemical facilities in Puertollano, Tarragona, and Portugal. The company is a major supplier of natural gas and electricity to retail customers and actively participates in wholesale gas and LPG trading across Spain, Portugal, and France.

In Portugal, the company is expanding the Sines Industrial Complex, adding two new plants and reinforcing the site’s role as a petrochemical and industrial hub. In France and Italy, Repsol focuses on downstream operations, including LPG distribution in France and low-carbon generation investments in Italy.

PKN Orlen S.A

PKN Orlen S.A. is an integrated, multi-utility corporation and one of Central Europe’s largest refiners and fuel retailers. The company operates across refining, petrochemicals, retail fuels, power generation, and biofuels production.

Orlen manages an extensive fuel retail network of over 3,400 service stations across seven European countries, including Poland, Germany, the Czech Republic, Slovakia, Hungary, Lithuania, and Austria. In Germany, nearly 100 stations are expected to operate under the ORLEN brand by early 2026. The company remains the largest fuel retailer in Poland, operating over 2,000 service stations domestically.

In refining and petrochemicals, Orlen operates some of Europe’s most advanced facilities. The company is currently developing the largest petrochemical project in Europe. Beyond refining, Orlen maintains a diversified portfolio spanning oil and gas exploration, natural gas production, and power generation.

OMV AG

OMV AG is one of Europe’s leading integrated oil, gas, and energy companies, headquartered in Vienna, Austria. The company operates a diversified portfolio spanning exploration and production, refining, petrochemicals, and emerging low-carbon energy solutions.

In Romania, through its majority-owned subsidiary OMV Petrom, the company is co-developing the Neptun Deep offshore gas project in the Black Sea. The company is also investing in a new sustainable fuels unit at the Petrobrazi refinery, a USD 750 million project that will produce sustainable aviation fuel (SAF) and hydrotreated vegetable oil (HVO).

In Norway, OMV holds a 30% stake in the Berling gas and condensate field in the Norwegian Sea, where production is slated to begin in 2028. In Austria, the company is developing the Wittau Tief-2a natural gas discovery in Lower Austria, which is expected to double domestic gas production starting in 2026.

OMV also operates one of Europe’s key refining hubs at Schwechat, Austria, and another in Burghausen, Germany, supplying fuels and feedstock across Central Europe. Additionally, OMV is conducting exploration in the Han Asparuh block in Bulgaria’s Black Sea, with drilling scheduled to begin in late 2025.

Galp Energia SGPS, S.A

Galp Energia is a leading Portuguese energy company with extensive oil and gas operations across the Iberian Peninsula. Its European portfolio is primarily focused on refining, gas, and LNG supply, and retail fuel distribution, while its upstream production assets are concentrated outside Europe.

In refining and logistics, Galp operates its main industrial hub at the Sines Refinery, one of the largest energy complexes in the Iberian Peninsula. Following the closure of the Matosinhos refinery in 2021, the company has focused all refining and downstream development at Sines.

In gas and LNG, Galp manages a supply, trading, and storage network that supports both industrial and wholesale customers across Portugal and Spain. The company continues to expand its presence as an LNG supplier to Europe.

Galp also maintains a strong commercial distribution network with around 1,300 Galp-branded service stations across Iberia. These stations distribute fuels, lubricants, and natural gas while increasingly integrating electric vehicle charging infrastructure to align with evolving mobility trends.

Edison S.p.A

Edison S.p.A. is one of Italy’s oldest and most prominent energy companies, specializing in natural gas supply, infrastructure development, and power generation. The company currently exited oil exploration and production, but it continues as a major player in Europe’s gas sector and energy transition through import diversification, LNG supply, and cross-border infrastructure.

Edison manages an extensive natural gas portfolio, combining pipeline imports, LNG contracts, and domestic storage capacity. The company is among Italy’s leading gas suppliers, providing energy security and flexibility to industrial and retail customers. Its gas storage network plays a crucial role in balancing seasonal demand across Southern Europe.

In 2022, Edison completed its exit from upstream oil operations by selling its remaining assets, including its Algerian license, to Wintershall Dea. This move marked a full pivot toward gas, power, and renewables.

Edison is a key partner in major European gas infrastructure projects. The EastMed–Poseidon Pipeline, developed in collaboration with Greece’s DEPA, is designed to transport natural gas from the Eastern Mediterranean through Greece to Italy. Edison also holds an indirect stake in the Greece - Bulgaria Interconnector (IGB) through the IGI Poseidon joint venture.

In Greece, Edison co-owns Elpedison, a 50/50 joint venture with Hellenic Petroleum. Elpedison is the country’s second-largest power producer, operating combined-cycle gas turbine (CCGT) plants that provide reliable, lower-emission electricity to the Greek grid.

Conclusion

Europe’s top oil and gas companies, such as Shell, TotalEnergies, bp, Equinor, Eni, Repsol, OMV, Galp, Edison, and PKN Orlen, remain the backbone of the region’s energy system while leading global investment in decarbonization. Their combined efforts in LNG, hydrogen, carbon capture, and renewable generation are redefining what it means to be an energy major in the 21st century.

Looking ahead, Europe’s energy picture will continue to evolve around diversification and technological innovation. With new upstream projects in the North Sea, expanding LNG infrastructure, and cross-border hydrogen initiatives, these companies are set to secure both Europe’s energy future and its transition toward net zero.

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