Shell, Exxon Pass Walmart on Fortune Global 500 List
NEW YORK -- Move over Walmart, there is a new top dog on Fortune magazine's Global 500 list.
Taking the top stop is Royal Dutch Shell with a 28.1-percent increase in revenue in 2011. All told, the Netherlands-based company saw more than $484 billion in revenues and $30.9 billion in profits -- a 53.6-percent increase from 2010.
That was enough to push Wal-Mart Stores out of the top stop after a two-year reign on the magazine's annual ranking of the world's 500 largest corporations. In fact, the Bentonville, Ark.-based retailer fell to third behind Exxon Mobil Corp. According to the rankings, Exxon Mobil recorded a 35-percent increase in profits to $41 billion in 2011 and had more than $452 billion in revenue. Wal-Mart Stores earned large profits overseas but struggled in the United States, with a 4.2-percent decline in profits, the report added. All total, the retailer tallied more than $446 billion in revenue and more than $15 billion in profits.
BP began to recover from the Deepwater Horizon oil spill in the Gulf of Mexico to land at the No. 4 spot on the Global 500 list. In 2011, the oil company saw its revenue top $386 billion and profits reach above $25 billion.
Other companies with ties to the convenience store industry also landed on the list. They are: Chevron (No. 8), ConocoPhillips (No. 9), Valero Energy (No. 35), Statoil (No. 40), Lukoil (No. 49), Nestlè (No. 71), Marathon Petroleum (No. 106), PepsiCo (No. 133), Seven & I Holdings (No. 151), Kraft Foods (No. 170), Coca-Cola Co. (No. 212), Sunoco (No. 217), Anheuser-Busch InBev (No. 265), Hess (No. 278), Tyson Foods (No. 345), Murphy Oil (No. 352), Philip Morris International (No. 355), McDonald's (No. 410), British American Tobacco (No. 445), and Heineken Holdings (No. 464).