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Houston energy companies score big on annual Fortune 500 ranking

Houston-based energy companies have again held a sizable presence on the Fortune 500 ranking. Photo via Getty Images

Fourteen businesses with global or regional headquarters in the Houston area appear on Fortune’s new list of the world’s 500 biggest companies.

Oil and gas company Saudi Aramco, whose headquarters for the Americas is in Houston, leads the Houston-area pack. With annual revenue of $494.9 billion, it lands at No. 4 on the Fortune Global 500. Ahead of Saudi Aramco are U.S. retailers Walmart and Amazon, and Chinese electric company State Grid.

To put Saudi Aramco’s annual revenue in perspective, the total is slightly above the gross domestic product for the Philippines.

For the third year in a row, Saudi Aramco stands out as the most profitable member of the Fortune Global 500. The company racked up $121 billion in profit last year.

Overall, Saudi Aramco and 32 other petroleum refiners — many of them with a significant presence in the Houston area — made the Fortune Global 500.

“The Global 500 is the ultimate scorecard for business success. The aggregate revenue of the Fortune Global 500 in 2023 reached $41 trillion, a record level. That sum represents more than a third of global GDP — a sign of how much economic power is concentrated in these companies,” Scott DeCarlo, Fortune’s vice president of research, says in a news release.

Here’s the rundown of Fortune Global 500 companies with global or regional headquarters in the Houston area, including the ranking and annual revenue for each:

  • Saudi Aramco, No. 4, $494.9 billion, Americas headquarters in Houston
  • ExxonMobil, No. 12, $344.6 billion, global headquarters in Spring
  • Shell, No. 13, $323.2 billion; U.S. headquarters in Houston
  • TotalEnergies, No. 23, $218.9 billion, U.S. headquarters in Houston
  • BP, No. 25, $213 billion, U.S. headquarters in Houston
  • Chevron, No. 29, $200.9 billion, global headquarters relocating to Houston in 2024
  • Phillips 66, No. 52, $149.9 billion, global headquarters in Houston
  • Engie, No. 130, $89.3 billion, North American headquarters in Houston
  • Sysco, No. 163, $76.3 billion, global headquarters in Houston
  • ConocoPhillips, No. 235, $58.6 billion, global headquarters in Houston
  • Enterprise Products Partners, No. 303, $49.7 billion, global headquarters in Houston
  • Plains GP Holdings, No. 311, $48.7 billion, global headquarters in Houston
  • LyondellBasell, No. 368, $41.1 billion, global headquarters in Houston
  • SLB (formerly Schlumberger), No. 479, $33.1 billion, global headquarters in Houston

Fortune uses revenue figures for budget years ending on or before March 31, 2024, to rank the world’s largest companies.

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A View From HETI

Oxy CEO Vicki Hollub (center) is the first woman to win WPC Energy's Dewhurst Award. Photo via 1pointfive.com

Vicki Hollub, president and CEO of Houston-based Occidental (Oxy), has become the first woman to win WPC Energy’s prestigious Dewhurst Award.

Hollub is the thirteenth recipient of the award, which is considered the highest honor from WPC Energy, a global, non-advocacy, non-political nonprofit organization that promotes the sustainable management of energy and energy products. She is just the fourth U.S. winner since the award launched in 1991. Other U.S. winners include former ExxonMobil CEO Rex Tillerson; Daniel Yergin, vice chairman of S&P Global and chairman of CERAWeek; and former chairman and CEO of Chevron Kenneth Derr.

According to WPC Energy, the Dewhurst Award is given to “exceptional individuals whose leadership and contributions have had a lasting impact on the global energy industry.” It is named after Thomas Dewhurst, who organised the first WPC Energy Congress, formerly the World Petroleum Congress, in 1933.

Oxy works to advance low-carbon technologies, reduce emissions and is leading a number of energy transition projects. Its Oxy Innovation Center is housed in Houston’s The Ion.

Hollub has held a variety of roles in her 40-year career with Occidental, including chief operating officer and senior executive vice president. She also led strategic acquisitions for Occidental of Anadarko Petroleum in 2019 and CrownRock in 2024, and serves on the boards of Lockheed Martin and the American Petroleum Institute. She is one of the first women to lead a major U.S. oil and gas company.

“Vicki Hollub’s visionary leadership and unwavering dedication to innovation and sustainability have set a benchmark for excellence in our industry,” Pedro Miras, WPC Energy President, said in a news release. “She embodies the spirit of the Dewhurst Award—forward-looking, courageous and deeply committed to advancing the global energy dialogue. Her contributions continue to inspire the next generation of energy leaders.”

Hollub will receive the award in April 2026 in Riyadh, Saudi Arabia at the 25th WPC Energy Congress, where she will also present the Dewhurst Lecture.

“I am honored to be selected for the Dewhurst Award and appreciate WPC Energy recognizing our company’s achievements,” Hollub added in the release. “The Dewhurst Award reflects the collective efforts of the talented and dedicated team at Oxy, whose commitment to innovation, operational and technical excellence, and sustainability drives our success.”

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