CNPC ranks 3rd of Fortune's Global 500, Gazprom made the list at number 56

On July 20, 2016, Fortune released its 2016 list of Global 500, and CNPC ranks the 3rd with revenue of USD 299.27 billion against the economic background of low oil prices.

Moving one place up from last year, CNPC now ranks the first among the world's major oil and gas companies. This is the best result achieved by CNPC since the company entered the list in 2001.
Wal-Mart Stores tops the list for the 3rd consecutive year with annual revenue of USD 482.13 billion. Among the top 5 companies, three are from China, including State Grid ranking the second, CNPC the third, and Sinopec Group the fourth respectively.
CNPC, in fact, was the only oil and gas company on the list that actually improved its standing, rising from number-four last year to a spot in the top three. Its revenues totaled nearly $300 billion in the last fiscal year.

Anglo-Dutch player Shell, which has now merged with BG Group, came in at number-five overall with $272.2 billion in revenue. That was good enough to beat Texas-based rival ExxonMobil, which settled for sixth place with $246.2 billion in revenue.

Russia's Gazprom occupied the number-56 spot, down from 26 last year, while independent compatriot LUKOIL came in at number 76, down from number 43.
Rosneft hit number 118, down from 51 last year.