Global 500 rank: 24 (Previous rank: 39)
Profits (millions): $13,265
Change from 2005: 2.4%
While China caps the prices that its consumers pay for gasoline, it doesn't dictate what state-owned producers can charge refineries for crude oil and natural gas. As a result, exploration and production giant CNPC earns a return on revenues that's in line with Western oil companies-it posted profits of $13.3 billion on sales of $110.5 billion.
See more Global 500 data for China National Petroleum
China National Petroleum
|  Old-economy outfits top Fortune's annual Global 500 list, thanks to rising oil prices and a slew of mergers that drove record profits. (more)  Wal-Mart retakes the lead as the world's biggest company. See which other outfits top our list. (more)  Which automaker lost a whopping $12.6 billion last year? And just how far into the red are stalwarts like Goodyear and Tyson Foods? (more) |
