14 of 20
China National Petroleum
Rank: 25
Profits ($millions): $14,925.30
Change from 2006: 12.5%

High profit growth for China National Petroleum is in line with Western oil companies, as earnings touched nearly $15 billion in 2007.

This is because unlike caps on gasoline prices, China doesn't dictate what this exploration and production giant charges refineries for crude oil and natural gas.

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Last updated July 09 2008: 8:24 AM ET
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