Connect with us

Business

The World’s Top Companies by Revenue in 2024

Today, Sinopec is the largest oil refiner by capacity globally, at 5.2 million barrels per day, exceeding Exxon Mobil, at 4.5 million barrels daily.

Published

on

310 Views

Visual Capitalist:  Today, U.S. retail giants are the largest companies by revenue globally thanks to their international reach and the strength of the American consumer.

Looking beyond the U.S., many of the world’s leading companies by this measure are in the energy sector.

Notable heavyweights, such as Saudi Aramco and China National Petroleum, are predominantly state-owned with expansive global operations.

This graphic shows the top companies by revenue worldwide, based on data from Fortune.

Here are the world’s leading companies by annual revenues in 2024, including both public and private companies that report financial data:

Figures represent total revenues in companies’ fiscal years ending on or before March 31, 2024.

Ranking in first overall is Walmart, the largest retailer and private employer in America.

Every hour, Walmart generates nearly $74 million in revenue with an average of 255 million weekly store visits across its global customer base.

The U.S. makes up 68% of total sales, with domestic revenues rising 36% since 2019.

Amazon follows next in line, with $574.8 billion in revenues.

Over the past five years, Amazon’s revenues have more than doubled, driven by cloud computing services, Amazon Prime, and advertising revenues.

In 2025, Amazon plans to sell vehicles on its online marketplace in the U.S., further broadening its scope of products.

In third place is State Grid, China’s massive state-owned utilities firm.

Last year, the firm purchased two of Chile’s biggest electricity distributors and controls more than 50% of energy distribution across the country.

Moreover, State Grid stands as the world’s largest copper buyer, given the metal’s vital role in power grid infrastructure.

Like State Grid, state-owned Sinopec and China National Petroleum rank among the top companies by revenue driven by their significant oil production.

In 2023, Chinese oil firms imported a record volume of discounted Russian crude oil, making it the country’s top supplier last year.

Today, Sinopec is the largest oil refiner by capacity globally, at 5.2 million barrels per day, exceeding Exxon Mobil, at 4.5 million barrels daily.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

UPDATE: Dangote Refinery Cuts Fuel Prices, Updates Petrol Supply

Published

on

25 Views

Dangote Refinery has announced a nationwide petrol price cut, ahead of the launch of its direct fuel distribution initiative now set for Monday, September 15, 2025.

Originally scheduled for August 15, the initiative will see the $20 billion, 650,000 bpd refinery deliver petrol and diesel directly to consumers using 4,000 CNG trucks, with zero logistics cost.

Despite an ongoing dispute with NUPENG, Dangote Group released a fresh price template on its X account, confirming its gantry price remains N820 per litre.

Retail prices have dropped to N841 per litre in Lagos and the South-West (from N860), and N851 per litre in Abuja, South-South, and North Central states (from N885)—a reduction of N19 to N34 per litre, depending on the location.

The new prices apply only to MRS and Dangote’s official distribution partners, as independent marketers are not bound by the template.

Meanwhile, NUPENG has threatened a fresh strike, accusing Dangote of reneging on earlier agreements—a claim the company denies, affirming workers’ right to union membership.

Continue Reading

Business

Dangote Refinery Mgt Says Workers Union Membership is Personal Choices

It urged NUPENG to focus on resolving its internal dispute with the Petrol Tanker Drivers unit rather than “embroiling the refinery in its conflicts.

Published

on

By

37 Views

Dangote Petroleum Refinery has said membership of trade unions by its employees remains voluntary and not compulsory, in line with the Nigerian Constitution and International Labour Organisation conventions.

In a statement made available to Ohibaba.com, the company accused what it described as “distortions of facts” by the Nigeria Union of Petroleum and Natural Gas Workers concerning its trade relations with workers.

The refinery stressed that it does not interfere with or restrict employees’ right to freely join legally recognised unions.

“It is therefore misplaced to attribute responsibility to Dangote Petroleum Refinery for the personal choices made by drivers regarding union affiliation,” the company stated.

Dangote dismissed allegations that it forced drivers to sign contracts barring union membership, describing the claim as unfounded.

It urged NUPENG to focus on resolving its internal dispute with the Petrol Tanker Drivers unit rather than “embroiling the refinery in its conflicts.

”The company added that accusations of union suppression formed part of a broader attempt to undermine private sector progress.

Continue Reading

Business

NUPENG Dangote Union Memberships Agreement Collapses: What Happened Again?

Akporeha alleged that within 48 hours, Dantata ordered drivers to strip NUPENG stickers from their vehicles and forcefully enter the refinery in violation of union loading procedures.

Published

on

By

30 Views

The agreement between the Nigerian Union of Petroleum and Natural Gas Workers and the Dangote Petroleum Refinery has collapsed, and here’s why.

The confrontation follows allegations by NUPENG that the Dangote Group reneged on a Memorandum of Understanding signed earlier this week, under which the refinery agreed to allow tanker drivers and other workers to freely unionise.

On Thursday, NUPENG’s National President, Williams Akporeha, accused Sayyu Aliu Dantata, a cousin of Aliko Dangote and key player in the refinery’s trucking operations, of defying the resolution reached on September 9 at the Department of State Services headquarters in Abuja.

The meeting, mediated by the Minister of Labour and Employment, Muhammadu Dingyadi, affirmed the rights of Petroleum Tanker Drivers under NUPENG to unionise. Representatives of the Nigeria Labour Congress, Trade Union Congress, DSS, and other agencies witnessed the signing of the MoU.

But Akporeha alleged that within 48 hours, Dantata ordered drivers to strip NUPENG stickers from their vehicles and forcefully enter the refinery in violation of union loading procedures.

“Alhaji Sayyu Aliu Dantata flew over them several times with his helicopter and then called the navy of the Federal Republic to come over ostensibly to crush the union officials. Our members are waiting for him and his agents to run them over,” Akporeha said in a statement.

The union condemned what it described as Dantata’s “impunity” and warned the Federal Government not to allow security agencies funded by taxpayers to be used against workers.

Continue Reading

Trending