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    they mean business

    14 Houston energy companies power up Fortune Global 500 list

    John Egan
    Aug 15, 2024 | 11:30 am
    Aramco refinery workers

    Aramco is the world's fourth biggest company.

    Courtesy of Aramco

    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.

    ---

    This story originally appeared on our sister site EnergyCapitalHTX.

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    2026 jobs forecast

    Houston's health care sector will drive job growth in 2026, report predicts

    John Egan, InnovationMap
    Dec 24, 2025 | 9:30 am
    Texas Medical Center aerial view
    Photo by simonkr/Getty Images
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    Buoyed by the growing health care sector, the Houston metro area will add 30,900 jobs in 2026, according to a new forecast from the Greater Houston Partnership.

    The report predicts the Houston area’s health care sector will tack on 14,000 jobs next year, which would make it the No. 1 industry for local job growth. The 14,000 health care jobs would represent 45 percent of the projected 30,900 new jobs. In the job-creation column, the health care industry is followed by:

    • Construction: addition of 6,100 jobs in 2026
    • Public education: Addition of 5,800 jobs
    • Public administration: Addition of 5,000 jobs

    At the opposite end of the regional workforce, the administrative support services sector is expected to lose 7,500 jobs in 2026, preceded by:

    • Manufacturing: Loss of 3,400 jobs
    • Oil-and-gas extraction: Loss of 3,200 jobs
    • Retail: Loss of 1,800 jobs

    “While current employment growth has moderated, the outlook remains robust and Houston’s broader economic foundation remains strong,” GHP president and CEO Steve Kean said in the report.

    “Global companies are choosing to invest in Houston — Eli Lilly, Foxconn, Inventec, and others — because they believe in our workforce and our long-term trajectory,” Kean added. “These commitments reinforce that Houston is a place where companies can scale and where our economy continues to demonstrate its resilience as a major engine for growth and opportunity. These commitments and current prospects we are working on give us confidence in the future growth of our economy.”

    The Greater Houston Partnership says that while the 30,900-job forecast falls short of the region’s recent average of roughly 50,000 new jobs per year, it’s “broadly in line with the muted national outlook” for employment gains anticipated in 2026.

    “Even so, Houston’s young, skilled workforce and strong pipeline of major new projects should help offset energy sector pressures and keep regional growth on pace with the nation,” the report adds.

    The report says that even though the health care sector faces rising insurance costs, which might cause some people to delay or skip medical appointments, and federal changes in Medicare and Medicaid, strong demographic trends in the region will ensure health care remains “a key pillar of Houston’s economy.”

    As for the local oil-and-gas extraction industry, the report says fluctuations and uncertainty in the global oil-and-gas market will weigh on the Houston sector in 2026. Furthermore, oil-and-gas layoffs partly “reflect a longer-term trend as companies in the sector move toward greater efficiency using fewer workers to produce similar volumes,” according to the report.

    ----

    This story originally was published on our sister site, InnovationMap.

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