Oil Giants Dominate Fortune 500 List

With combined profits of almost $72 billion in 2007, oil juggernauts Exxon Mobil Corp., Chevron Corp. and ConocoPhillips Inc. secured three of the top five spots on the Fortune 500 list, the magazine reported.

ExxonMobil racked up $39.5 billion in profit last year, the largest-ever in U.S. history. That figure topped the previous record of $36.1 billion, which ExxonMobil set in 2005. The company’s sales rose 2.2% from the previous year, while its profits were up 9.3%.

ExxonMobil ranked second on the Fortune 500 list, trailing No.1 placeholder Wal-Mart, which posted $378 billion in revenues and about $13 billion in profit.

Chevron ranked third on the list with $18.7 billion in profit and $210.8 billion in revenue, while ConocoPhillips was fifth with $11.9 billion in profits and $178.6 billion in revenue.

Other oil companies and c-store chains in the Top 100 included Valero Energy at No. 16 ($96.8 billion in revenue, $5.2 billion in profit), Marathon Oil at No. 36 ($60 billion and $4 billion), Sunoco at No. 56 ($42 billion and $891 million) and Hess at No. 77 ($31 billion and $1.8 billion).

Grocery retailer Kroger Co., which also operates c-store chains such as Turkey Hill and QuikStop, was No. 26 on the list with $70.2 billion in revenue and $1.2 billion in profit.

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