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On August 5, Fortune China released the 2024 Fortune Global 500 list. Data showed that the total operating income of the companies on this year's Fortune Global 500 list was about 41 trillion US dollars, equivalent to one-third of the global GDP, a slight increase of about 0.1% over last year. China's State Grid Corporation continued to rank third, and Saudi Aramco and Sinopec ranked fourth and fifth respectively.

PetroChina and Sinopec swapped rankings, and the performance of mining and crude oil production companies declined overall

This year, including companies from Taiwan, a total of 133 Chinese companies made the list, nine fewer than last year. Looking at the industry in detail, in the oil refining industry, PetroChina and Sinopec swapped rankings, with Sinopec ranking fifth this year and PetroChina ranking sixth, while the opposite was true last year.

For CNPC and CNOOC, although their rankings in the Fortune Global 500 have declined, they are still important players in China's and even the global energy market. According to data from Fortune Chinese website, CNPC's net profit in 2023 is US$21.29 billion and CNOOC's net profit is US$14.55 billion, showing their strong profitability. At the same time, CNPC and CNOOC are also actively deploying in the new energy field, exploring low-carbon transformation and new growth points.

However, this year's list shows an overall decline in the performance of Chinese mining and crude oil production companies. Shanxi Coking Coal Group dropped 112 places from 359th in 2023 to 471st with revenue of US$33.533 billion and net profit of US$1.253 billion; Jinneng Holding Group dropped 50 places from 163rd in 2023 to 213th with revenue of US$63.64 billion and net profit of US$994 million; Lu'an Chemical Group Co., Ltd., which ranked 468th in 2023, failed to make the list this year.