PETRONAS ranking rises to 216 in Fortune Global 500 list

KUALA LUMPUR: Petroliam Nasional Bhd’s (PETRONAS) ranking rose to 216 in Fortune Media IP Ltd’s 2022 Fortune Global 500 list from the 277th spot in 2021.

The annual Fortune Global 500 list for 2022 ranked the world’s largest companies by revenue for fiscal 2021.

The national oil company made RM248bil in revenue in 2021 and profit after tax of RM48.6bil while its total assets amounted to RM635bil, according to its website.

The top 10 companies in the 2022 Fortune Global 500 list came from the United States, China, Saudi Arabia and Germany.

Fortune noted that US retailer Walmart Inc claimed the top spot for the ninth consecutive year and for the 17th time since 1995 while eCommerce behemoth, Amazon.com, ranked second on the 2022 Fortune Global 500 list.

The top 10 companies in the 2022 Fortune Global 500 list came from the United States, China, Saudi Arabia and Germany. Fortune noted that US retailer Walmart Inc claimed the top spot for the ninth consecutive year and for the 17th time since 1995 while eCommerce behemoth, Amazon.com, ranked second on the 2022 Fortune Global 500 list

“Saudi Aramco (No. 6) reclaims its title as the world’s most profitable company, with US$105bil (RM467.98bil) in earnings.

“Mainland China  (including Hong Kong), with 136, once again has the most companies on the list, up one from last year.  

“Adding Taiwan, the total for Greater China is 145. The United States, with 124, is up two; in third place, Japan lost six, for a total of 47.”

It added that for the first time, the aggregate revenue of Fortune Global 500 companies based in Greater China, including Taiwan, exceeded the revenue of US companies on the list, accounting for 31% of the total.

Of the 2022 rankings, Fortune list editor Scott DeCarlo said a rebound from the worst depths of the pandemic created a huge tailwind for the world’s largest companies by revenue.

“Aggregate sales and profits hit record levels in fiscal year 2021 for the Fortune Global 500.

Saudi Aramco (No. 6) reclaims its title as the world’s most profitable company, with US$105bil (RM467.98bil) in earnings.Saudi Aramco (No. 6) reclaims its title as the world’s most profitable company, with US$105bil (RM467.98bil) in earnings.

“The Global 500 is the ultimate scorecard for business success and the companies face another big test navigating several global economic headwinds in 2022,” he added.

Fortune Global 500 companies generated revenues totalling US$37.8 trillion (RM168.47 trillion), which is more than one-third of the world’s gross domestic product, for an increase of 19% over last year,

This marked the highest annual growth rate in the list’s 33-year history.

Fortune said the companies’ cumulative profits also jumped 88% over last year, for a record US$3.1 trillion (RM13.82 trillion).