Chem firms move up Fortune 500 list but fall on profitability

10 July 2009 11:39  [Source: ICIS news]

SINGAPORE (ICIS news)--Almost all chemical and petrochemical companies have moved up in the rankings of the annual top 500 global companies compiled by Fortune magazine but plunged on profitability, according to the publication’s list released late on Thursday.

Out of a total of 53 listed petrochemical, chemical, refining and petroleum companies, only five fell from their 2008 positions on the list, while 45 others moved up and there were three new entrants. (See table below.)

The Fortune 500 list ranks companies based only on the amount of revenue they generate during the year.

In 2008, prices of crude oil and petrochemical products reached historical highs, which allowed chemical and petrochemical companies to move up in the Fortune 500 list.

However, the profitability of the chemical industry last year plunged over 63% compared with 2007, and it was listed as the seventh-least profitable sector out of a total of 33 industries.

Analysts said they attributed this to the high feedstock costs companies had to bear when crude prices reached historical highs of $147/bbl in July 2008.

The profitability of the petroleum and refining industry was down 31.5% in 2008, which was also due to high feedstock costs.

In 2007, the chemical industry was ranked the sixth-most profitable sector out of a total of 30 listed industries.

Previous charts toppers from the automotive sector, such as General Motors (18th), Toyota (10th), Daimler (23rd) and Ford (19th), as well as banking giants such as Citigroup (39th), HSBC Holdings (21st) and Fortis (no longer on the list) tumbled from their 2007 spots as they bore the brunt of the global financial crisis.

Ranking on Fortune 500 list

 

 

2008 Rank

2009 Rank

Company

Revenue in millions ($)

Profits in millions ($)

3

1

Royal Dutch Shell

458,361

26,277

2

2

ExxonMobil

442,851

45,220

4

4

BP

367,053

21,157

6

5

Chevron

263,159

23,931

8

6

Total

234,674

15,500

10

7

ConocoPhillips

230,764

-16,998

16

9

Sinopec

207,814

1,961

25

13

China National Petroleum (CNPC)

181,123

10,271

47

22

Gazprom

141,455

29,864

49

33

Valero Energy

118,298

-1,131

63

34

Petrobras

118,257

18,879

59

36

Statoil Hydro

116,211

7,664

73

59

BASF

91,193

4,262

90

65

Lukoil

86,340

9,144

79

68

Procter & Gamble

83,503

12,075

86

72

SK Holdings

80,810

259

92

76

Repsol YPF

79,177

3,968

95

80

Petronas

76,965

15,309

108

86

Marathon Oil

73,504

3,528

117

101

Nippon Oil

64,198

-2,505

116

105

Indian Oil

62,993

565

130

114

Mitsubishi

61,182

3,682

135

118

PTT

59,985

1,550

122

121

Unilever

59,313

7,358

128

127

Dow Chemical

57,514

579

140

131

Mitsui

55,098

1,768

168

141

Sunoco

51,652

776

492

147

LyondellBasell Industries

50,996

-7,321

155

154

Bayer

48,182

2,516

257

170

Sinochem

44,457

672

227

186

Sabic

40,203

5,873

201

189

Marubeni

39,839

1,107

295

206

OMV Group

37,386

2,012

236

229

Sumitomo

34,954

2,141

322

238

Itochu

34,034

1,646

262

244

Idemitsu Kosan

33,522

33

313

246

Cepsa

33,417

402

477

249

PKN Orlen Group

33,043

-1,041

252

262

DuPont

31,836

2,007

206

264

Reliance Industries

31,792

3,320

287

289

Bharat Petroleum

29,989

138

302

293

Cosmo Oil

29,710

-920

317

302

Mitsubishi Chemical Holdings

28,957

-669

324

306

CPC

28,452

-3,824

290

311

Hindustan Petroleum

28,247

165

409

318

China National Offshore Oil (CNOOC)

28,027

4,816

395

323

Formosa Petrochemical

27,769

482

368

383

Evonik Industries

23,718

417

335

402

Oil & Natural Gas (ONGC)

22,725

4,302

455

406

Akzo Nobel

22,563

-1,590

N.A.

441

S-Oil

21,020

406

N.A.

481

Neste Oil

19,299

142

N.A.

484

L'Air Liquide

19,179

1,786

Source: Fortune magazine

 

 

($1 = €0.71)

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By: Bohan Loh
+65 6780 4359



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