Exxon Back on Top
Published in CSP Daily News
Oil giant leads Fortune 500 list
NEW YORK -- Fortune magazine unveiled its annual 500 listing of America's largest companies, and ExxonMobil Corp. tops the list with more than $339 billion in revenue, topping Wal-Mart for the first time since 2001.
Thanks to tight oil supplies, petroleum refiners saw profits rise 57.8% last year, and companies in mining/crude oil, 80.8%, according to the magazine. They also returned the best results to investors, thus taking three of the top 10 spots on the Fortune 500 list, and seven spots in the top 100.
Those companies, [image-nocss] and their 2005 revenues, include:
ExxonMobil Corp. $340 billion (No. 1) Chevron Corp. $189 billion (No. 4) ConocoPhillips $167 billion (No. 6) Valero Energy Corp. $81 billion (No. 15) Marathon Oil $59 billion (No. 23) Sunoco $31 billion (No. 66) Amerada Hess $23 billion (No. 88)
About Exxon, the magazine wrote: The world's biggest company is also a very big target. Even as it battles environmental critics and political opponents, Exxon is fighting hard to please Wall Street analysts, boost profits even further and increase its already staggering level of oil and gas production.
With $339.9 billion in revenue and profits of $36.1 billion, Exxon earned more than any U.S. company in history last year more than the profits of the next four companies on the FORTUNE 500 combined. Exxon's return to No. 1 caps its emergence as not only the biggest but also the most powerful U.S. corporation by just about any metric.