Global 500: The top 25

Wal-Mart retakes the lead on Fortune's annual list of the world's biggest companies. See which other outfits top our list.

Chevron
7. Chevron
Global 500 rank: 7 (Previous rank: 6)
2006 Revenues (millions): $200,567
Headquarters: San Ramon, CA
Country: U.S.
Get quote: CVX

First, Chevron merged with Texaco in 2001. Then last year, it completed a merger with Unocal. Now it's firmly established as the second-biggest oil company in the U.S. Thanks to the merger, profits were up 21.6% to $17.1 billion. Revenues were up 6%, in part due to fresh production from new projects in Angola, Kazakhstan, Nigeria, the Gulf of Mexico, and Australia.

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Full list Old-economy outfits top Fortune's annual Global 500 list, thanks to rising oil prices and a slew of mergers that drove record profits. (more)
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