Houston dominates the Fortune 500 — and Wal-Mart goes down to big oil
Today, we brag: Fortune Magazine has released its annual Fortune 500 list of the largest, highest-earning corporations in the United States, showing a large presence of Texas oil and Houston energy in the ratings based on 2011 earnings.
Overall, the Lone Star State ranked No. 2 (just behind California), with 52 companies represented on the list. Twenty five of those are Houston-area corporations (up from 23 in the 2010 rankings).
Locally-headquartered energy giant ConocoPhillips ranked No. 4 overall for the second year in a row, claiming $237.2 billion in revenue. Meanwhile, Marathon Oil fell from No. 29 in 2010 to No. 173 in 2011, with a revenue loss of $53 billion.
ConocoPhillips ranked No. 4 overall for the second year in a row, claiming $237.2 billion in revenue.
Other Houston-area Fortune 500 companies include: Enterprise Products Partners (ranking No. 62), Sysco (69), Plains All American Pipeline (87), Halliburton (118), Baker Hughes (141), Apache (154), National Oilwell Varco (184), Anadarko Petroleum (192), Waste Management (203), EOG Resources (263), KBR (280), Enbridge Energy Partners (282), CenterPoint Energy (305), Kinder Morgan (311), Targa Resources (361), Cameron International (362), Calpine (364), Group 1 Automotive (405), Spectra Energy (438), FMC Technologies (475), CVR Energy (477), El Paso (488) and MRC Global (493).
ExxonMobil took the top spot from Wal-Mart, with a 28-percent increase in revenues. Though the company is headquartered in Irving, it retains a large Houston presence — one that is likely to become more noticeable with the opening of its new campus in The Woodlands, slated for 2014 and 2015.