Global 500 rank: 17 (Previous rank: 23)
2006 Revenues (millions): $131,636
China's biggest domestic oil refiner is the highest-ranked Chinese company ever on the Global 500. Thanks to the fast-growing Chinese economy's ravenous need for fuel and some generous state subsidies, Sinopec's revenues grew 33%, and profits grew 39%. But because gasoline prices are capped in China, it earned only $3.7 billion in profits on sales of $132 billion. Sinopec's leaders are lobbying Beijing to lift the price controls.
See more Global 500 data for Sinopec