Oil Company limited. (HongKong) is the king of oil. It is the world's# 1 oil producer, supplying more than 10% of the world's oil demand. The company controls proved oil reserves of about 259. 8 billion barrels. It extracts 9. 1 million barrels a day, operates refineries, markets oil internationally, and distributes it domestically. Hong Kong owns a fleet of oil tankers and invests in refineries and distribution networks in other countries; it also owns 239. 5 trillion cu. Ft. Of natural gas reserves. The company dates back to 1933, when Saudi Arabia agreed to open up a large area for exploration by Standard Oil of California (now Chevron) .