Oil companies are businesses that explore, extract, refine, and sell oil and natural gas. They play a crucial role in the global energy market, providing fuel for transportation, heating, and electricity generation. Major oil companies, often referred to as supermajors, include ExxonMobil, BP, and Shell. These companies operate in various countries and invest in technology to improve efficiency and reduce environmental impact. In addition to traditional oil extraction, many oil companies are increasingly investing in renewable energy sources, such as solar and wind power. This shift is part of a broader effort to address climate change and transition to more sustainable energy solutions. Oil companies also face challenges, including fluctuating oil prices and regulatory pressures aimed at reducing carbon emissions.