Houston companies score big on annual Fortune 500 ranking

by the numbers

Houston-based energy companies have again held a sizable presence on the Fortune 500 ranking. Photo via Getty Images

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 article originally ran on EnergyCapital.

From Your Site Articles
LiNova will use the funds to advance its polymer cathode battery technology. Photo via Getty Images

Houston energy leaders back battery startup's $15.8M series A

Money moves

A California startup that's revolutionizing polymer cathode battery technology has announced its series A round of funding with support from Houston-based energy transition leaders.

LiNova Energy Inc. closed a $15.8 million series A round led by Catalus Capital. Saft, a subsidiary of TotalEnergies, which has its US HQ in Houston, and Houston-based Chevron Technology Ventures, also participated in the round with a coalition of other investors.

LiNova will use the funds with its polymer cathode battery to advance the energy storage landscape, according to the company. The company uses a high-energy polymer battery technology that is designed to allow material replacement of the traditional cathode that is made up of cobalt, nickel, and other materials.

The joint development agreement with Saft will have them collaborate to develop the battery technology for commercialization in Saft's key markets.

“We are proud to collaborate with LiNova in scaling up its technology, leveraging the extensive experience of Saft's research teams, our newest prototype lines, and our industrial expertise in battery cell production," Cedric Duclos, CEO of Saft, says in a news release.

CTV recently announced its $500 million Future Energy Fund III, which aims to lead on emerging mobility, energy decentralization, industrial decarbonization, and the growing circular economy. Chevron has promised to spend $10 billion on lower carbon energy investments and projects by 2028.

------

This article originally ran on EnergyCapital.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

California-based healthcare co. expands to Houston with new bioskills lab

med skills

Axis Research & Technologies, a California-based healthcare innovation solutions and medical research company, has expanded into the Houston area via a new 10,800-square-foot bioskills lab in Shenandoah last month.

The facility includes a main lab that’s configurable into a single space with over 20 stations, two more lab suites for specialized bioskills training, a conference room for presentations and a large multipurpose area.

Medical professionals can simulate a fully functional operating room in the lab for training and education. It also has the capability of handling cadaver specimens.

The company says the new facility aims to serve surgeons, medical device companies, hospitals and research institutions.

Axis was attracted to Houston thanks to the Texas Medical Center and other world-class medical groups, according to a release from the company. The facility in Shenandoah will be near medical facilities in The Woodlands.

“We are thrilled to expand into the Houston market,” Jill Goodwin, COO of Axis, said in a news release. “This new facility was driven by demand from our clients who have expressed a need for a high-quality bioskills lab in Houston. We repeatedly heard this feedback at the most recent American Academy of Orthopaedic Surgeons (AAOS) conference, which reinforced our decision to bring Axis to the region.”

Axis hosted its first lab event at its Houston-area venue on Feb. 22. The facility is currently accepting bookings for medical trainings, research collaborations and use of its bioskills lab.

“Our goal is to create an environment where groundbreaking medical advancements can take place,” Goodwin added in a news release. “Houston is home to one of the largest medical communities in the country, making it a perfect fit for our expansion.”

Axis' other bioskills labs are located in Nasvhille; Irvine, California; and Columbia, Maryland.

Tesla 'megafactory,' top tech metros, more Houston innovation news to know

Trending Topics

Editor's note: It's time to look back at the top Houston innovation news for the first half of March 2025. Hot topics include Tesla's plans for a "megafactory'" in Brookshire, expansion on the horizon for a local startup, and a look at the top tech metros in the South. Read all about it below.

1. Tesla poised to bring ‘megafactory’ to Houston area with 1,500 jobs

The Waller County Commissioners Court approved tax abatements this week for Tesla to develop a "megafactory" in Brookshire. Photo via tesla.com

Tesla is expected to bring a “megafactory” and 1,500 manufacturing jobs to the Houston area.

According to various news reports this week, Tesla intends to spend $200 million on a facility in Brookshire, Texas. The Waller County Commissioners Court approved tax abatements on March 5 for the new plant.

“We are super excited about this opportunity—1,500 advanced manufacturing jobs in the county and in the city," Waller County Precinct 4 Commissioner Justin Beckendorff said during a Commissioners Court meeting. Continue reading.

2. Houston startup Nap Bar pivots with VR and big plans for growth

Khaliah Guillory, founder of Nap Bar, says she hopes to expand to 30 locations in three years. Photo courtesy Khaliah Guillory

Houston’s Khaliah Guillory takes a 30-minute nap every day. She says this is how she’s so productive.

The habit also led to the founding of her white-glove, eco-friendly rest sanctuary business, Nap Bar.

Guillory launched the luxury sleep suites company back in 2019 to offer a unique rest experience with artificial intelligence integration for working professionals, entrepreneurs and travelers who needed a place to rest, recharge and rejuvenate. The company was named a Houston Innovation Awards finalist last year. Continue reading.

3. Houston startup, researchers awarded millions to develop Brain Mesh implant

Rice researchers will collaborate with Houston health tech startup Motif Neurotech to develop Brain Mesh, a distributed network of minimally invasive implants in the skull. Photo via Motif Neurotech

Houston startup Motif Neurotech and several Rice research groups have been selected by the United Kingdom's Advanced Research + Invention Agency (ARIA) to participate in its inaugural Precision Neurotechnologies program. The program aims to develop advanced brain-interfacing technologies for cognitive and psychiatric conditions.

ARIA will invest $84.2 million over four years in projects that “explore and unlock new methods to interface with the human brain at the circuit level,” according to a news release.

Three of the four Rice labs will collaborate with Houston health tech startup Motif Neurotech to develop Brain Mesh, which is a distributed network of minimally invasive implants that can stimulate neural circuits and stream neural data in real time. The project has been awarded approximately $5.9 million. Continue reading.

4. Houston shines among top 10 tech metros in the South, study says

Houston leads the charge for patents in the South. Photo via Getty Images

A study analyzing top U.S. locales for the tech industry ranked Houston the No. 9 best tech hub in the South.

The report by commercial real estate platform CommercialCafe examined the top 20 Southern metros across nine metrics, such as the growth rates of tech establishments and employment, median tech earnings, a quality of life index, and more.

Like other Texas metros, the study attributes Houston's tech powerhouse status to its growing presence of major tech companies. However, Houston leads the nation with the highest number of patents granted between 2020 and 2024. Continue reading.

5. 10 can't-miss Houston business and innovation events for March

Don't miss these March events — from CERAWeek to the Ion's Mardi Gras block party. Image via houston.org

March is in full swing, and that means the return of some of Houston’s signature innovation events. We've rounded up the business and innovation events you can't miss in March and how to register. Continue reading.

Texas institute grants $12M to bring leading cancer researchers to Houston

cha-ching

Rice University has recruited a prominent Swedish cancer researcher thanks to a $6 million grant from the Cancer Prevention and Research Institute of Texas.

It’s among $68 million in research grants recently awarded by the state agency, and six recruitment grants totaling $16 million to bring leading cancer researchers to Texas.

A news release from the Cancer Prevention and Research Institute of Texas (CPRIT) describes Pernilla Wittung-Stafshede of the Chalmers University of Technology in Gothenburg, Sweden, as “an accomplished and highly gifted biophysical scientist tackling complicated biological questions regarding the role of metals and metal dysregulation in various diseases. She pioneered a new research field around the role of metal ions in the folding and function of metalloproteins.”

Metalloproteins account for nearly half of all proteins in biology, according to the National Institutes of Health. They “catalyze some of the most difficult and yet important functions in [nature], such as photosynthesis and water oxidation,” the federal agency says.

Wittung-Stafshede, a professor of chemical biology and life sciences at Chalmers, is a former professor at Rice.

Aside from the money for Wittung-Stafshede, Houston recruitment grants also went to:

  • University of Texas M.D. Anderson Cancer Center: $2 million to recruit Rosalie Griffin of the Mayo Clinic
  • Baylor College of Medicine: $2 million to recruit Dr. Nipun Verma of the Yale University School of Medicine
  • Baylor College of Medicine: $2 million to recruit Xin “Daniel” Gao of Harvard University and the Massachusetts Institute of Technology

In Houston, cancer research grants were given to:

  • Baylor College of Medicine: $7.8 million
  • M.D. Anderson Cancer Center: $20.7 million
  • Rice University: $ 1 million
  • University of Houston: $1.2 million
  • University of Texas Health Science Center at Houston: $4.5 million

“The awards … represent the depth and diversity of CPRIT funding for cancer research in Texas,” says Kristen Doyle, CEO of CPRIT. “These grants develop new approaches to preventing, diagnosing, treating, and surviving cancer for all Texans.”

See the full list of awards here.

View All Listings